GMET Guardian Metal Resources Plc

28 January 2025

Guardian Metal Resources plc

('Guardian Metal' or the 'Company')

Significant Porphyry South Copper Results

Cu-Mo Mineralised Hydrothermal Breccia Zone Discovered

Guardian Metal Resources plc (LON:GMET, OTCQX:GMTLF), a strategic development and mineral exploration company focused in Nevada, USA, is pleased to announce rock sample assay results confirming a copper-molybdenum (Cu-Mo) mineralised hydrothermal breccia nested within the Company's Porphyry South target at its 100% owned Pilot Mountain Project ("Pilot Mountain" or the "Project) located within the prolific Walker Lane Mineral Belt in Nevada, USA. Pilot Mountain is the Company's flagship tungsten asset where drilling on the deposit continues with a plan to continue to pre-feasibility engineering study in 2025. Tungsten skarn deposits globally can be associated with source intrusive rocks and "porphyry" bulk mineralisation. Exploration for both deposit types has been part of the Company's broader geological model and exploration programme.

On 11 November 2024 results were released from a widely spaced sampling programme which returned elevated copper results from the Porphyry South target*. The results supported the possibility of a copper-rich shell existing within this target and the Company immediately commenced a more comprehensive sampling programme, the results of which are presented herein.

* polaris.brighterir.com/public/golden_metal_resources/news/rns/story/rnjg30x

Highlights:

§  Significant copper (Cu) and molybdenum (Mo) mineralisation identified within an outcropping mineralised hydrothermal breccia zone at the Porphyry South Target.

§   The hydrothermal breccia zone has returned the first at-surface high-grade copper results from this burgeoning porphyry target, further supporting the potential for a higher-grade copper mineralised shell within the molybdenum-rich mineralised porphyry system identified by drillhole PM24-002¹.

§   Highlight rock chip samples from various breccia outcrops include: 1.93% Cu, 204 ppm Mo and 0.94% Cu, 287 ppm Mo.

§   The Porphyry South target, one of 3 porphyry targets identified to date at Pilot Mountain, has a current surface expression of 1,250m x 1,500m. This represents a substantial target for further exploration, along with the nested 380m long, east-west striking mineralised breccia zone, which warrants immediate follow up.

§ The surface copper mineralisation complements the highly anomalous downhole molybdenum enrichment noted in diamond drillhole PM24-002, which is the only drillhole at the Porphyry South target.

Oliver Friesen, CEO of Guardian Metal, commented: 

"We are very pleased with the confirmation of high-grade copper and molybdenum mineralisation at surface from a newly discovered mineralised breccia found within the Porphyry South target. These results validate our belief in the significant potential of Pilot Mountain as a large-scale multi-metal project. The discovery of a hydrothermal breccia zone with outcropping Cu-Mo mineralisation is a game-changer for this underexplored target area and underscores the potential scale and quality of this asset."

Further Information

Previous rock chip sampling across the Porphyry South target identified elevated Cu and Mo concentrations across the expansive zone of quartz-sericite-pyrite ("QSP") hydrothermal alteration. Subsequent geological fieldwork across this area has identified an outcropping, highly oxidised, magmatic-hydrothermal breccia which can be traced for several hundred metres and other gossanous outcrops (Figure 1 & 2). Copper surface showings across the area include chrysocolla, malachite and chalcocite associated with oxidised sulphide bearing quartz veins. Magmatic-hydrothermal breccias are thought to form during the porphyry intrusion, they can often contain high-grade mineralisation because of their intrinsic permeability (Figure 3).²

The rock chip sample assay results from multiple outcrops of hydrothermal breccia and gossans (indicating oxidised sulphides) at Porphyry South are presented in Table 1 and Figure 4. These results illustrate the presence of a copper mineralised shell within the molybdenum mineralised porphyry system discovered by PM24-02, and further support the Company's belief that a large but almost entirely untested sub cropping Cu-Mo porphyry system exists within the Project.  

Table 1: Rock chip sample assay results

Note: ALS Laboratory analytical methods ME-ICP61.  * Overlimit copper analysed by method Cu-OG62

Media

Figure 1:  Field photograph of outcropping magmatic-hydrothermal breccia at Porphyry South. The breccia is gossanous and has visible secondary copper mineralisation (malachite and chrysocolla).

Figure 2:  Field photograph of outcropping magmatic-hydrothermal breccia at Porphyry South.

Figure 3:   Schematic depiction of a magmatic-hydrothermal breccia body genetically linked to the apex of an inter-mineral porphyry intrusion².

Figure 4:  Map of the  Pilot Mountain Project showing magnetic intensity, whole rock copper concentrations and key features annotated.

References

1:            Company Announcement, Pilot Mountain, Nevada - Significant Drill Results Desert Scheelite: PM24-012 Intersects Outstanding Tungsten Mineralised Intersection, date 7 October 2024.
( https://polaris.brighterir.com/public/golden_metal_resources/news/rns/story/x89275r )

2:            Sillitoe, R.H., 2010. Economic Geology, 105, pp. 3-41.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). The Directors of the Company are responsible for the contents of this announcement.

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O'Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Guardian Metal Resources plc to provide technical support.

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  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: