21st Feb 2025 16:32
(Alliance News) - Guardian Metal Resources PLC on Friday said trenching results from its Golconda Summit project in Nevada confirmed high-grade gold mineralisation, reinforcing the site's potential for a significant Carlin-type gold discovery.
The London-based metal exploration & development company, formerly known as Golden Metal Resources, which focuses primarily on tungsten exploration, said the results highlight strong discovery potential, particularly given the sustained strength in gold prices.
Chief Executive Officer Oliver Friesen said: "These trenching results further reinforce our confidence that Golconda Summit has the potential to host a significant Carlin-type gold discovery, situated within the same prolific geological and structural setting as several multi-million-ounce Carlin-type deposits."
The latest trenching program identified significant gold mineralisation at the Trench Zone, with intercepts including 6.10 metres at 13.12 grams per tonne of gold and 11.28 metres at 3.73 g/t, which included a higher-grade interval of 1.52m at 22.7 g/t.
Guardian Metal also discovered an extension to the gold-bearing system at the Thrust Zone, located 550 metres north of the Trench Zone. Results from this area returned up to 3.05m at 1.94 g/t.
CEO Friesen added that the confirmation of high-grade gold within Upper Plate rocks suggests strong potential for deeper mineralisation in the more favourable Lower Plate host rocks.
Shares in Guardian Metal were up 3.0% at 36.05 pence each in London on Friday afternoon.
By Eva Castanedo, Alliance News reporter
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