Golden Metal Resources plc has identified two further high-priority exploration targets from survey results at its Pilot Mountain tungsten project within the prolific Walker Lake mineral belt in Nevada, USA.
PORPHYRY SOUTH
The targets add to the previously announced three exploration targets from detailed interpretation and inversion modelling of the high-resolution induced polarisation geophysics survey.
Of the two new undrilled targets of Porphyry South and Good Hope West, the former represents the “most compelling” porphyry deposit target identified to date at the site.
Porphyry South is approximately 500m by 500m and its centre is 600m south of the previously identified Desert Scheelite target.
The new target is defined by a resistivity high starting at 250m depth and extending towards the depth limit of the survey at 500m where it remains open.
“This anomaly is surrounded by a moderate chargeability anomaly which could represent a halo around the porphyry centre – an often common feature of porphyry deposits,” said Golden Metal in a statement.
GOOD HOPE WEST
The Good Hope zone lies 1.4km north of Desert Scheelite and is defined by a “relatively copper-rich area with abundant near-surface mineralisation” sparsely drilled.
Golden Metal’s results have delineated the Good Hope West zone, defined by a “moderate resistivity anomaly” that “fingers in” from the west.
The company said that the resistivity anomaly was strongly coincident with a known Good Hope mineralised lode structure.
The anomaly extends for around 600m to the southwest from Good Hope where it has never been drill tested.
Chief executive officer Oliver Friesen added that the five targets were in addition to the 12.53 million tonnes of resources already established at Pilot Mountain.