No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Guardian Metal Resources announced the expansion of its Pilot North tungsten project in Nevada on Wednesday, after initial rock sampling returned high-grade results for tungsten and other metals.
The AIM-traded company said it had staked an additional 42 Bureau of Land Management lode claims, bringing the total to 101 and increasing the project's footprint to about 2,086 acres.
It said the move followed a 22-sample reconnaissance programme that returned assays of up to 940 parts per million tungsten, 5.71% copper, 619 grams per tonne silver, 3.45% zinc and notable bismuth and antimony grades.
Pilot North, located 15 kilometres northwest of Guardian's flagship Pilot Mountain project, now covers four historical World War II-era tungsten mines.
A follow-up geological mapping and sampling programme had been completed, with results pending.
"Early results from Pilot North have surpassed our expectations, confirming significant tungsten grades alongside copper, silver, zinc and other critical metals," said chief executive Oliver Friesen.
"With the 100% owned, royalty-free footprint now expanded to more than 2,000 acres and encompassing multiple historical tungsten mines, we believe we have added another key building block to our nearby Pilot Mountain tungsten project, advancing our goal of delivering a secure, Mined-in-America source of tungsten to the U.S. industrial base."
At 1425 BST, shares in Guardian Metal Resources were up 1.09% at 55.6p.
Reporting by Josh White for Sharecast.com.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.
