Guardian Metal Resources (NYSE:GMTL) shares climbed, rising 9.2% to 17.6p, after it announced the discovery of a new tungsten‑skarn zone at its Pilot Mountain project.
The initial reverse‑circulation hole PMR26‑077 returned five tungsten‑rich skarn intervals including a highlight intercept of 13.68m at 0.31% WO3 from 102.11m, plus additional intercepts of 3.04m at 0.24% WO3, 4.56m at 0.16% WO3, 1.52m at 0.24% WO3 and 4.56m at 0.24% WO3.
Follow‑up RC holes PMR26‑078, PMR26‑079, PM26‑088, PM26‑096 and PM26‑097 returned visually identified tungsten‑bearing skarn over approximate widths of 12m, 28m, 66m, 14m and 38m respectively, and the zone has been delineated to roughly 400m of strike with two diamond rigs now drilling step‑outs and infill as the zone remains open.
The Tremor Zone is at an early stage, will not be included in the imminent pre‑feasibility study (PFS) but the PFS remains flexible to incorporate it in future studies, and the Pilot Mountain PFS is being supported by a US Department of War Title III investment of US$6.2m into Golden Metal Resources (USA) LLC.
"The blind discovery of the Tremor Zone is a very exciting result for Guardian," said Oliver Friesen, CEO.
