Pilot Mountain - Garnet Update
09 July 2024
('Guardian Metal' or the 'Company')
On
Highlights:
§ As part of multiple project development steps that are currently progressing in parallel, garnet bulk sampling will be commissioned imminently with a circa 300kg composite sample to be shipped to a highly respected laboratory for detailed metallurgical testing within the next few days. The bulk sample consists of approximately 118m of half-core samples taken from six different historical drillholes.
§ Industrial garnet is demonstrated to comprise an average of 40% of many mineralised intervals across the known deposit areas (Desert Scheelite & Garnet). Considering the size of the mineral resource at present, the Company is of the belief that the industrial garnet component, subject to completion of the metallurgical study, could be material to overall Project economics.1,2
§ The results will be incorporated into the pre-feasibility study ("PFS") work that is currently being progressed by the Company in association with its engaged engineers and environmental specialists. A detailed report is expected to be in hand from the engaged engineers shortly and next important steps required for the planned PFS will commence shortly thereafter.
§ The Company has made significant drilling progress since its last update on
"We are now in the midst of what is without a doubt the busiest period in the Company's history. There are several exploration and development workstreams that are all in progress and moving forward together.
"Since the garnet potential was first investigated by the Company, and determined to be potentially significant, it has been high on our list to get the next steps in motion. The exploration crews who are doing a fantastic job in the field, alongside their daily duties associated with ongoing drilling, were able to prepare the bulk sample that will be shipped shortly for metallurgical testing. This work is being supervised by our retained metallurgical specialist and we are very pleased to have him work alongside us to oversee this important study.
"These results will form the basis of important next steps which include determining the recoverability of the various garnet species, how they fit into the current flow sheet and following that their effect on overall project economics.
"With lots of workstreams moving forward at present, I am very much looking forward to releasing further updates to the market in short order."
Media:
Figure 1: ~300kg bulk sample consisting of approximately 118m of half-core samples prepared for shipment to
Further Information:
Industrial garnet is used in a wide array of industries including abrasive blasting, water-filtration media, water-jet-assisted cutting, in abrasive powders, nonslip coatings and sandpaper.3 The industries that are known consumers of industrial garnet include aircraft and motor vehicle manufacturers, ceramics and glass producers, electronic component manufacturers, filtration plants, glass polishing, petroleum industry, shipbuilders, textile stonewashing as well as wood-furniture finishing operations.3 The global abrasives market was valued at
References:
1 The Development of Separation Technology from the
2 Report on Laboratory Test on W03-Cu-Zn
3
4 https://www.marknteladvisors.com/research-library/global-abrasives-market.html
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events.
Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
For further information visit www.guardianmetalresources.com or contact the following:
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Tel: +44 (0) 20 7583 8304 |
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Nominated Adviser |
Tel: +44 20 7213 0880 |
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Lead Broker |
Tel: +44 (0) 20 7186 9000 |
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Broker |
Tel: +44 20 7374 2212 |
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