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Additional Claims Staked at Swales Gold Property

20th May 2025 07:13

RNS Number : 3749J
Metals One PLC
20 May 2025
 

20 May 2025

 

 

Metals One Plc

("Metals One" or the "Company")

 

Additional Claims Staked at Swales Gold Property, Nevada, USA

 

Expanded landholding enhances exposure to favourable geology within Nevada's prolific Carlin Trend

Further to the announcement on 14 May 2025 regarding the conditional acquisition of the Swales Gold Property (the "Project") in Nevada, USA, Metals One Plc (AIM: MET1), a minerals exploration and development company, is pleased to announce the formal staking of an additional 99 unpatented mining claims contiguous with the Project located in the prolific Carlin Trend, proximal to some of the largest gold mines in Nevada.

Highlights:

Strategic Expansion: Formal staking of 99 additional mining claims (approximately 1,980 acres), significantly enlarging the Project footprint to approximately 2,780 acres within the world-renowned Carlin Trend with no additional lease payment

 

Favourable Geological Setting: Newly staked claims increase exposure to geology at Swales known to contain the gold deposits at Nevada Gold Mines' nearby open pits and underground workings

 

Comprehensive Exploration Programme: Phase 1 exploration programme to be expanded to encompass detailed geological mapping, extensive surface sampling, historical workings re-evaluation, and initial geophysical surveys across the enlarged Project area

Geological Setting

The Swales Gold Property is located within the Carlin Trend, one of the richest mining districts in the world, and home to some of the largest gold mines in the U.S. Several factors demonstrate the exceptional potential of this relatively unexplored Project for new discoveries of significant mineralisation on several exploration targets. Geologically, the Project is underlain by the upper plate of the Roberts Mountains thrust with windows of the lower plate - the ideal host rocks for a Carlin type gold deposit - similar to that encountered at Nevada Gold Mines' Carlin Complex. Small gold anomalies occur in the upper plate rocks at Swales Mountain. This suggests the possibility of more extensive deposits in the lower Roberts Mountains thrust where it lies concealed by gravels or in the broken rock within the upper Roberts Mountains thrust, potentially geologically similar to that encountered at the Carlin Complex. The newly staked claims contain numerous historical workings consisting of small underground workings, mine dumps and prospect pits that dig along structures.

Expanded Phase 1 Exploration Programme

In light of the newly staked claims, subject to completion of the conditional acquisition of the Project ("Conditional Acquisition"), Metals One expects to expand its Phase 1 exploration programme at the Swales Gold Property. This enhanced programme is expected to include comprehensive geological mapping and surface sampling covering the newly added claims, aimed at rapidly identifying prospective targets. The initial programme also includes relocating and reassessing historical mine workings and incorporating preliminary geophysical surveys designed to better delineate exploration targets across the substantially increased project area.

Craig Moulton, Chairman of Metals One, commented:

"The formal staking of these additional 99 claims underscores our strategic commitment to rapidly advancing the Swales Gold Property. This expanded claim area considerably increases exposure to the highly prospective geological setting within Nevada's prolific Carlin Trend which includes the Carlin Complex, the largest gold-producing complex in the world. We are excited by the enhanced exploration potential at the Project, particularly considering the strong gold price, and are working diligently to conclude the Conditional Acquisition and integrate the new claims into an expanded Phase 1 programme."

As announced, Metals One has been granted a period of exclusivity for three months to conduct the due diligence and to decide whether to proceed with the Conditional Acquisition. Further information regarding the Conditional Acquisition can be found in the 14 May 2025 announcement.

Figure 1: Illustrative regional map showing Project in relation to nearby gold mines

 

 

Enquiries:

 

Metals One Plc

Jonathan Owen, Chief Executive Officer

Craig Moulton, Chairman

via Vigo Consulting

+44 (0)20 7390 0234

Beaumont Cornish Limited (Nominated Adviser)

James Biddle / Roland Cornish

www.beaumontcornish.com

+44 (0)20 7628 3396

 

SI Capital Limited (Joint Broker)

Nick Emerson

+44 (0)14 8341 3500

 

Capital Plus Partners Limited (Joint Broker)

Jonathan Critchley

https://www.capplus.co.uk/

+44 (0)20 3821 6169

Vigo Consulting (UK Investor Relations)

Ben Simons / Kendall Hill / Anna Stacey

[email protected]

+44 (0)20 7390 0234

 

 

Fairfax Partners Inc (North America Investor Relations)

[email protected]

+1 604 366 6277

 

 

About Metals One

 

The race for critical minerals is on. Metals One is pursuing a critical minerals exploration and M&A strategy, underpinned by the Western World's urgent need for reliably and responsibly sourced raw materials such as copper, nickel, cobalt, zinc, uranium and vanadium - all of which are vital to the clean energy transition.

 

Our Northern Europe portfolio comprises copper, nickel, cobalt and zinc projects in Finland and Norway, including a 57.1 Mt nickel-copper-cobalt-zinc Inferred Resource adjacent to one of Europe's largest nickel producers, aiming to help meet Europe's demand for strategic minerals sourced directly from within the continent.

 

Our North America portfolio comprises uranium and vanadium exploration projects in prolific and historical U.S. uranium mining regions, targeting critical minerals essential for U.S. clean energy generation, grid storage, and energy security.

 

The potential acquisition of gold mining claims within the prolific Carlin Gold Trend in Nevada, USA, if completed, would mark our entry into the gold exploration sector and diversification of our portfolio of critical minerals assets.

 

Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1).

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/metals-one-plc/

X: https://x.com/metals_one_PLC

 

Subscribe to our news alert service on the Investors page of our website at: https://metals-one.com

 

Market Abuse Regulation (MAR) Disclosure

 

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR').

 

Nominated Adviser

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

 

 

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