Golden Metal marks bonanza silver grades at Garfield

Golden Metal Resources plc reported bonanza silver grades and a magnetic bullseye anomaly overlapped by a uranium target at Garfield in Nevada, USA.

NEW-STYLE DEPOSIT

Assay analysis, from geological mapping and rock sampling at the project within the Walker Lane mineral belt, confirm silver grades of up to 1,225g/t silver, including 18.35g/t silver and 1.89% copper.

The company said that a “new deposit style” as yet unrecognised at Garfield, could involve epithermal gold-silver mineralisation locally overprinting the original porphyry system, leading to “very high gold-silver grades” not typically associated with porphyry systems.

Further results, from an unrelated company’s survey, highlighted a magnetic bullseye geophysical anomaly within Garfield’s High Grade zone and a uranium target near the zone’s southern edge.

The news follows the recent high-grade gold-silver-copper bedrock discovery of Pamlico at Garfield earlier this month.

Chief executive Oliver Friesen said that the overprinting epithermal style mineralisation materially increased the project’s overall prospectivity by greatly improving the gold-silver potential.

“The typical next stage when exploring for porphyry deposits is to search for a geophysical anomaly which could represent a porphyry centre at depth.

“To our excitement, this was identified by a third party survey and is located within the High Grade zone, which happens to be broadly overlapping the uranium target identified during the same exploration programme.

“With these transformational latest results in hand, the company is quickly moving towards determining optimal next exploration steps to continue to drive this very exciting project forward.”