Golden Metal Resources plc’s technical review showed industrial garnet comprised some 40% of the mineralised intervals across the known deposit areas at its Pilot Mountain project in Nevada.
SPECIALIST
The intervals are across the known deposit areas of Desert Scheelite and Garnet at the project within the Walker Lake mineral belt.
The company said that based on a mineral resource estimate of 12.5Mt of mineralised material, and subject to further studies, a “significant quantity of garnet likely exists” at Pilot Mountain.
The MRE considered tungsten, copper, silver and zinc but not the potential for industrial garnet.
Golden Metal reviewed historical drilling logs and metallurgical test reports and “significant evidence of garnet composition homogeneity across mineralised intervals”.
A garnet specialist will be appointed to complete a detailed market and project specific analysis.
The company is also finalising drill permits applications for Pilot Mountain before submission to the local Bureau of Land Management.
The permits will cover a range of exploratory and infill drill pad locations.
Chief executive Oliver Friesen added that Pilot Mountain had taken a “significant but unexpected, step forward”.
“The potential economic implications cannot be understated, not only because it could represent a fifth recoverable and saleable product from Pilot Mountain, but also for several other factors.
“Subject to commissioning appropriate studies, the company considers it likely that the garnet could be recovered via gravity and/or magnetic separation methods prior to the grinding and flotation stages – therefore significantly decreasing the wear and tear on the overall processing circuit and therefore the potential operating costs.
Golden Metal believes Pilot Mountain hosts the “largest undeveloped tungsten resource in the United States”, with a 2018 MRE of 12.53Mt at 0.27% WO3 with significant copper-silver-zinc credits.
The company has to date identified five target areas that show potential for “significantly greater in-ground resources than currently stated”.