Golden Metal Resources plc is preparing to start its inaugural drill programme, pending permits, on its 100% owned Pilot Mountain project in Nevada, USA.
SIGNIFICANT
The company’s recent fundraise of £750,000 will go towards drilling multiple previously untested targets, including Porphyry South, as well as investigation of copper potential.
Finalisation of a contract with a Nevada-based drilling contractor is due by the end of March and the drilling permits are anticipated in approximately six weeks’ time.
Pilot Mountain hosts a mineral resource estimate of 12.53Mt at 0.27% tungsten trioxide with significant copper, silver and zinc credits.
The company believes the in-ground resource to be “the largest and most advanced undeveloped tungsten resource located in the USA”.
Chief executive Oliver Friesen added that the drilling campaign would be a potentially transformational period for the company.
“This will involve undertaking high impact drilling and project development studies aimed at unlocking significant value at Pilot Mountain in tandem with further exploration across multiple other Golden Metal assets.”
The company’s other projects are Kibby Basin lithium, Golconda gold-silver, Garfield copper-gold and Stonewall gold-silver.