Guardian Metal Resources plc has delineated further magnetic anomalies at its Pilot Mountain tungsten project in Nevada, USA.
NORTH
Inversion modelling of magnetic geophysical data over the Porphyry West target delineated a magnetic anomaly “significantly” larger than the anomaly constituting Porphyry South.
The company also identified an additional significant magnetic anomaly, the North Target, in a new target area at the project.
“These results are enticing as the North Target is within a previously unexplored portion of the project, and we will be following up with our boots-on-the-ground geological team,” said chief executive Oliver Friesen.
“Also, with the receipt of the first regular batches of drill sample laboratory assay results (including overlimits), we are looking forward to releasing inaugural drill assay results.”
Guardian also issued a total one million options over ordinary shares, exercisable at 40p each, to two third-party consultants. Half of the options vest immediately and the remainder after 12 months.
The findings at Pilot follow high grade assays and the discovery of a new zone, named the Freeze Zone, from rock sampling on 44 mineral claims at Guardian’s Garfield copper project
The new zone adds to those of Power-Line, High-Grade and Pamlico.