Golden Metal Resources plc (LON: GMET, OTCQB: GMTLF), a strategic development and mineral exploration company focused in Nevada, USA, is pleased to announce an exploration update at the Company’s 100% owned flagship Pilot Mountain Project (“Pilot Mountain” or the “Project”) located within the prolific Walker Lake Mineral Belt in Nevada, USA.
HIGHLIGHTS
§ The Company has now commenced its first ever diamond drilling programme targeting strategic resource expansion and brownfield* exploration targets at its 100% owned Pilot Mountain Project.
§ This phase I programme will include a minimum of 2,000m of diamond drilling. Due to recent warrant monies received, the Company is in a position to expand the programme at its own discretion.
§ Due to the Project’s proximity to ALS Laboratory Group’s Reno, NV, location, drill core samples will be logged, processed and shipped for assay testing in batches, therefore allowing for semi-continuous news flow throughout the duration of the campaign.
§ The Company’s CEO is now on site assisting with the kick off of drilling operations as well as visiting some of Golden Metal’s other key projects.
*Brownfield exploration involves searching known or currently mined sites for additional deposits.
Oliver Friesen, CEO of Golden Metal, commented:
“It is a very exciting day in the Company’s history as one year after we successfully completed our IPO within the London Market, we have now commenced a robust and what we hope will be a very high impact drilling campaign focussed on multiple target areas within our 100% owned flagship Pilot Mountain Project.
“The goal of this programme is two-fold, 1) grow our confidence and increase the size of the resource at the Project’s main Desert Scheelite zone, which currently hosts the largest known tungsten resource on USA soil, and 2) make new brownfield discoveries to materially grow the amount of contained metal known about within the Project at present.
“While no outcomes are guaranteed when drilling, we have been very methodical throughout the preparation process and are excited to now be in position to finally drill test multiple of the Project’s exciting target areas. I look forward to providing further updates in regard to the drilling operations at Pilot Mountain, as well as on in-parallel workstreams progressing across the Golden Metal business.”
PROPERTY OWNERSHIP
Golden Metal holds a 100% interest in the Pilot Mountain Project through its wholly owned Nevada-based operating companies BFM Resources Inc and Pilot Metals Inc.
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.goldenmetalresources.com or contact the following:
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Golden Metal Resources plc Oliver Friesen (CEO) |
Tel: +44 (0) 20 7583 8304 |
