Golden Metal Resources plc plans to drill test the core of the Porphyry South target area at Pilot Mountain within the Walker Lane mineral belt, Nevada.
ANOMALY
From the planned start date of 12 May, the company’s campaign will involve at least one hole to a target depth of 450m.
The decision follows last week’s confirmation of magnetic high anomalies within the target and a “very significant buried magnetic body at depth”, identified from inversion modelling of magnetic geophysics survey data.
Golden Metal said that the eastern portion of the magnetic body was bordered by a moderate chargeability halo, directly coincident with a “resistivity anomaly further supporting the porphyry potential” at Pilot.
The western part of the magnetic anomaly extends close to surface where a historical trench with abundant malachite (copper) staining was identified.
The company has also staked a further 12 claims over 248 acres (1km2) around Porphyry South and to the east of the project to provide additional land for planned future mining infrastructure.
Chief executive Oliver Friesen added: “Porphyry copper exploration in the USA is ramping up significantly with the push to make new copper discoveries and we are perfectly positioned with multiple, very exciting porphyry targets, not only at the Porphyry South target, but also at our nearby Garfield project – where magnetic inversion results are expected very shortly.
“Porphyry South is one of a series of prospective targets that will be tested during our upcoming drilling campaign, providing our investors with exposure to multiple potentially exciting future outcomes during the coming months.”