Pilot Mountain - Significant Drill Result
('Guardian Metal' or the 'Company')
Desert Scheelite: First Drillhole PM24-001 Intersects Three Strongly Mineralised W-Zn-Ag-Cu Intervals
Laboratory assay results from drill core samples confirm diamond core drillhole PM24-001 from the Desert Scheelite deposit has intersected three zones of highly significant tungsten mineralisation together with ancillary zinc, silver and copper (see Table 1 & Table 2).
"Guardian Metal could not have asked for a better start to the Pilot Mountain drilling programme with the significant assay results achieved in the first drill hole PM24-001. The results demonstrate three distinct strongly mineralised tungsten-silver-zinc-copper intervals with the deepest interval remaining open at depth.
"Drilling has been ongoing since May and we are currently partway through the 21st hole, with drilling continuing at pace.
"The coming weeks and months will undoubtedly be the busiest period for Guardian Metal to date and we are looking forward to providing the market with commercial/technical updates, including further assay data and interpretation, as results continue to flow in from the laboratory.
"With Guardian Metal's investment in exploration and development and with the outstanding Project findings to date we consider Pilot Mountain to be a uniquely valuable strategic asset which we believe can contribute to various
HIGHLIGHTS:
§ Laboratory assay results confirm diamond drillhole PM24-001 at Desert Scheelite target (Figure 1) has intersected three strongly mineralised intervals totalling 38.7m of 'high-grade'1 tungsten mineralisation.
§ PM24-001 high-grade downhole drill intersection composites comprise:
o 9m @ 0.37% W03 from 69.1m (with 2.48% Zn, 43.7g/t Ag, 433ppm Cu)
o 27.9m @ 0.42% W03 from 96.6m (with 1.30% Zn, 23.1g/t Ag, 1,245ppm Cu)
- including 8m @ 0.84% W03 from 108.7m
o 1.8m @ 0.42% W03 from 150m to end of hole (with 1.44% Zn, 7.6g/t Ag, 217ppm Cu), interval remains open at depth and the Company is considering extending the hole.
§ Review of historical drilling records shows PM24-001 is one of the most strongly mineralised drillholes completed at Pilot Mountain/Desert Scheelite to date.
§ Individual standout very high-grade assay results include 1.37% W03 (108.7m - 110.2m downhole depth) and 1.44% W03 (114m - 115.5m downhole depth) which are some of the highest ever single drill assay results achieved across Pilot Mountain to date (see green interval in fig. 1).
§ Core sample assay results from ALS analytical method ME-ICP61 returned upper limit of detection ("overlimit") results for 20 tungsten samples (>3,000ppm W) and 15 zinc results (>10,000ppm Zn), three silver results (>100g/t Ag), and one lead result (>10,000ppm Pb). Overlimit samples were reanalysed utilising specific high-grade analytical packages2.
§ The Company considers all three of the strongly mineralised zones within PM24-001 to be near surface, within the context of possible future mining options, further highlighting the importance of the Desert Scheelite tungsten deposit and the
§ Based on various historical reports the Company has decided to selectively assay PM24-001 for gold (via fire assay) which is now underway.
§ Strong visual garnet mineralisation intersected throughout mineralised skarn-interval in PM24-001 (see fig. 1).
§
§ Drill core samples are submitted for laboratory assay in batches following detailed geological and geotechnical logging, results are subject to thorough quality control and quality assurance (QA/QC) verification and interpretation prior to release. The results for PM24-001 constitute the first batch of results. Subsequent batches will be released following completion of QA/QC verification and interpretation of results. Strong unreported visual results are pending including select scheelite (fig. 3) and chalcopyrite (fig. 4) dominate visuals which are available below.
Results
Table 1: Diamond Core Drillhole PM24-001 Details
|
Hole ID |
Target Area |
UTM Easting # |
UTM Northing # |
Altitude (m) |
Core Size |
Azimuth (deg.) |
Dip (deg.) |
Down hole Depth (m) |
|
PM24-001 |
Desert Scheelite |
424159 |
4248321 |
1,965 |
NQ |
195 |
-75.5 |
151.8 |
# UTM Zone 11 North NAD83 datum
Table 2: Drillhole PM24-001 Significant Intersection Assay Results
|
Downhole Depth (m) |
Interval (m) |
W (ppm) a |
W (%) b |
WO3 (%) c |
Zn (%) d |
|
Ag (g/t) a |
Cu (ppm) a |
Intersection Composites (weighted averages) c |
|||
|
From |
To |
|||||||||||
|
69.1 |
70.6 |
1.5 |
4,720 |
0.47 |
0.59 |
|
3.92 |
|
30.3 |
581 |
9m @ 0.37 WO3, 43.7g/t Ag, 2.48% Zn & 433ppm Cu |
|
|
70.6 |
72.1 |
1.5 |
2,310 |
0.22 |
0.28 |
|
2.28 |
|
44.9 |
815 |
||
|
72.1 |
73.6 |
1.5 |
2,730 |
0.28 |
0.35 |
|
2.80 |
|
37.9 |
272 |
||
|
73.6 |
75.1 |
1.5 |
2,420 |
0.25 |
0.32 |
|
1.42 |
|
100.0 |
290 |
||
|
75.1 |
76.6 |
1.5 |
2,880 |
0.29 |
0.37 |
|
2.67 |
|
29.0 |
474 |
||
|
76.6 |
78.1 |
1.5 |
2,440 |
0.25 |
0.32 |
|
1.81 |
|
20.1 |
164 |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
96.6 |
98.1 |
1.5 |
810 |
|
0.10 |
Δ |
0.22 |
F |
59.3 |
37 |
|
27.9m @ 0.42% WO3, 23.1g/t Ag, 1.30% Zn & 1245ppm Cu |
|
98.1 |
99.7 |
1.6 |
3,510 |
0.35 |
0.44 |
|
4.34 |
|
50.8 |
853 |
||
|
99.7 |
101.2 |
1.5 |
2,940 |
0.29 |
0.37 |
|
2.46 |
|
38.6 |
1,230 |
||
|
101.2 |
102.7 |
1.5 |
4,180 |
0.42 |
0.53 |
|
1.03 |
|
145.0 |
157 |
||
|
102.7 |
104.2 |
1.5 |
1,940 |
|
0.24 |
Δ |
0.60 |
F |
23.3 |
1,485 |
||
|
104.2 |
105.7 |
1.5 |
2,150 |
0.21 |
0.26 |
|
0.05 |
F |
3.8 |
1,580 |
||
|
105.7 |
107.2 |
1.5 |
1,090 |
|
0.14 |
Δ |
0.03 |
F |
1.9 |
705 |
||
|
107.2 |
108.7 |
1.5 |
740 |
|
0.09 |
Δ |
0.02 |
F |
1.3 |
319 |
||
|
108.7 |
110.2 |
1.5 |
9,540 |
1.09 |
1.37 |
|
0.03 |
F |
0.8 |
509 |
8m @ 0.84% WO3 |
|
|
110.2 |
111.7 |
1.5 |
3,270 |
0.33 |
0.42 |
|
0.02 |
F |
- |
77 |
||
|
111.7 |
113.2 |
1.5 |
3,200 |
0.31 |
0.39 |
|
0.03 |
F |
- |
138 |
||
|
113.2 |
114.0 |
0.8 |
3,230 |
0.33 |
0.42 |
|
0.04 |
F |
2.4 |
331 |
||
|
114.0 |
115.5 |
1.5 |
2,700 |
1.14 |
1.44 |
|
0.03 |
F |
2.4 |
302 |
||
|
115.5 |
116.2 |
0.7 |
4,120 |
0.43 |
0.54 |
|
0.04 |
F |
- |
209 |
||
|
116.2 |
116.7 |
0.5 |
5,490 |
0.92 |
1.16 |
|
0.17 |
F |
35.7 |
7,090 |
||
|
116.7 |
117.6 |
0.9 |
1,700 |
|
0.21 |
Δ |
0.06 |
F |
2.0 |
1,505 |
|
|
|
117.6 |
118.5 |
0.9 |
1,910 |
|
0.24 |
Δ |
0.13 |
F |
- |
271 |
||
|
118.5 |
120.0 |
1.5 |
1,520 |
|
0.19 |
Δ |
3.48 |
|
3.4 |
989 |
||
|
120.0 |
121.5 |
1.5 |
990 |
|
0.12 |
Δ |
4.56 |
|
29.9 |
2,060 |
||
|
121.5 |
123.0 |
1.5 |
1,670 |
|
0.21 |
Δ |
5.74 |
|
23.0 |
8,600 |
||
|
123.0 |
124.5 |
1.5 |
3,080 |
0.32 |
0.40 |
|
1.10 |
|
29.0 |
362 |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
127.5 |
129.0 |
1.5 |
1,810 |
|
0.23 |
|
0.09 |
F |
8.0 |
365 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
147.0 |
148.5 |
1.5 |
1,050 |
|
0.13 |
|
0.21 |
F |
- |
202 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
150.0 |
151.0 |
1 |
3,590 |
0.36 |
0.45 |
|
0.42 |
F |
0.8 |
41 |
1.8m @ 0.42% WO3, 7.6g/t Ag, 1.44% Zn & 217ppm Cu |
|
|
151.0 |
151.8 |
0.8 |
3,060 |
0.30 |
0.38 |
|
2.71 |
|
16.2 |
437 |
||
Table 2 notes:
Summary of certificated assay results provided by accredited laboratory
ppm: parts per million, 10,000 ppm = 1%
a: ALS method ME-ICP61;
b: ALS method W-XRF10;
c: WO3 % calculated as W % multiplied by 1.2611
d: ALS method Zn-OG62
Δ: denotes WO3 % calculated using W ppm (method ME-ICP61)
F: denotes Zn % calculated using Zn ppm (method ME-ICP61)
Media
Figure 1: 2024 drillhole plan map showing the location of all holes drilled to date including PM24-001 (results released herein).
Figure 2: PM24-001 drill core from 112.2m to 114.6m under normal light (top), and shortwave ultraviolet ("UV") light (below). The red interval (111.7-113.2m) returned 0.39% W03, 138ppm Cu, 263ppm Zn; The yellow interval (113.2-114m) returned 0.42% W03, 2.4g/t Ag, 331ppm Cu, 411ppm Zn, and the green interval (114-115.5m) returned 1.44% W03, 2.4g/t Ag, 302ppm Cu, 346ppm Zn. Dark red/brown rock material in top photo predominantly composed of garnet.
Figure 3: Unreported scheelite-rich interval from PM24-12 (under UV light).
Figure 4: Unreported chalcopyrite-rich interval from PM24-04 (approximately at 126m depth).
References
1: Tungsten skarn deposits, which is the deposit model-type for Desert Scheelite, have a grade range of 0.24% WO3 (90th percentile), 0.44% WO3 (50th percentile) to 0.88% WO3 (10th percentile). Source: Green, C.J., Lederer, G.W., Parks, H.L., and Zientek, M.L., 2020, Grade and tonnage model for tungsten skarn deposits-2020 update:
2:
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic
COMPETENT PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr
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:
|
|
Tel: +44 (0) 20 7583 8304 |
|
Nominated Adviser |
Tel: +44 20 7213 0880 |
|
Lead Broker |
Tel: +44 (0) 20 7186 9000 |
|
Broker |
Tel: +44 20 7374 2212 |