Golden Metal positive on Pilot visual drill results

Golden Metal plc reported “very exciting visual results” from the first two drillholes at its Pilot Mountain 2,000 metre drill campaign.

MINERALISATION

Operations at the Nevada tungsten project began in May with the first two holes completed for a combined 547.6m with assay results pending.

Drillhole PM24-001 near the central portion of the Desert Scheelite zone aimed to test for extensions of the deposit to the north and south.

Golden Metal said that the hole intersected observed scheelite (tungsten) mineralisation and skarn alteration from 12.2m, immediately below overburden, to 42.8m as well as from 65m to 151.8m. The end of the hole finished in mineralisation.

Extended intervals in the hole were observed to be “very strongly mineralised” with potential to expand.

PM24-002, completed to a final depth of 407.1m, tested the Porphyry South magnetic anomaly and was the first drilled into the target.

Based on the magnetic anomaly, Porphyry South stretches for “at least 1,200m in an east-west direction and greater than 500m north-south representing a considerable target”.

PM24-002 successfully discovered a mineralised porphyry system and intersected a quartz monzonite porphyry from immediately below overburden at 22m depth through to the final hole depth of 407.1m, added Golden Metal.

Chief executive Oliver Friesen said that the findings moved the project from a geophysical concept to geological confirmation.

“[This gives] the team further confidence in the other priority porphyry and skarn-type targets areas our technical team has developed across Pilot Mountain (1-Porphyry South, 2-Desert Scheelite Parallel West, 3-Porphyry West) and Garfield (4-Power-Line, 5-High-Grade Zone). 

“We will now bring in a porphyry expert to assist the team in further reviewing drillhole PM24-002 as well as all existing data, to help guide subsequent drillholes into Porphyry South.

“In the current planned 2,000m drill programme, which we expect will be expanded given the positive findings to date, there are many holes remaining and the drill rig has now moved to our next target area where drilling is underway.

Golden Metal‘s geophysics programme, started earlier this month, is expected to finish in the coming days with preliminary results to follow.