Shares in Metals One PLC (AIM: MET1) surged 14% after the company significantly expanded its Swales Gold Property in Nevada, staking 99 additional unpatented mining claims.
The move increases its landholding by nearly 250% to 2,780 acres and deepens its presence in the Carlin Trend—one of the richest gold-producing regions in the world.
The expansion follows a conditional acquisition announced earlier this month, marking a significant step forward in the company’s North American exploration strategy. The region is home to the Carlin Complex—operated by Nevada Gold Mines—which has yielded millions of ounces of gold since the 1960s.
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Investors have responded enthusiastically to Metals One’s entry into the region, reflecting strong market interest in junior miners with exposure to world-class geology. The company said the new claims come with no additional lease costs and significantly enhance its exposure to favourable geological structures, including the Roberts Mountains thrust fault—known to host major Carlin-type gold systems.
The newly staked ground also contains several historical mine workings, dumps, and prospect pits, offering further exploration upside.
Chairman Craig Moulton commented: “This expansion underscores our strategic commitment to rapidly advancing the Swales Gold Property. The enlarged land package presents enhanced exploration potential at a time when the gold price remains near record highs.”
Pending completion of the acquisition, Metals One plans to expand its exploration programme to cover the entire area. The next phase will include detailed mapping, surface sampling, geophysical surveys, and a reassessment of historical workings, all aimed at fast-tracking drill-ready targets.
With exclusivity in place for due diligence through August, attention will now turn to how quickly the company can turn its enlarged footprint into meaningful discovery potential.
