Guardian Metal Resources (NYSE:GMTL), a tungsten-focused mineral exploration company operating in Nevada, has acquired Lincoln Estates Group for $1.3 million in cash, securing water and land rights it considers critical to advancing its Tempiute Tungsten Project in south-central Nevada.
The purchase delivers 2,540 acre-feet of annual water rights held across three permits banked with the Lincoln County Water District, and approximately 841 acres of mixed-use, commercial, industrial and residential zoned real property with direct highway access via the same route serving Tempiute.
Guardian Metal retains the right to assign or transfer the beneficial interest in the water rights for use within the service area, which covers the Tempiute site.
The company said the acquisition materially de-risks the project, complementing existing on-site infrastructure left from Tempiute's last period of operation in the 1980s.
"These rights, together with the substantial infrastructure remaining from Tempiute's last period of operation in the 1980s, further strengthen the Project's foundation for redevelopment," said CEO Oliver Friesen, who added that resource-focused drilling is ongoing.
