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(Sharecast News) - Guardian Metal Resources confirmed the presence of a sizable copper and molybdenum mineralised footprint at its Pilot Mountain project in Nevada on Friday, with new rock chip assay results supporting the potential for a porphyry-style system.
The AIM-traded firm said the results came from the Porphyry South Zone, a 1.5 square kilometre area of outcropping alteration and breccia zones within the company's wholly-owned project.
A total of 189 outcrop samples were collected, with 15 returning over 1,000 parts of copper per million and one reaching as high as 20,500 parts per million, or 2.05% copper.
Elevated molybdenum was also identified, with a key area of overlap between at least 500 parts per million copper and more than 250 parts per million molybdenum now designated the 'Breccia Ridge Zone'.
"These new results provide a further layer of evidence that Pilot Mountain hosts a much larger mineral system than previously understood," said chief executive officer Oliver Friesen.
"The data not only expands the interpreted footprint of Porphyry South but also strengthens the case for a complex multi-metal system at depth."
Friesen added that while the company's immediate focus remained on tungsten-copper-silver-zinc skarns at Desert Scheelite and Garnet, the emerging porphyry potential would be tested once that work concludes.
The company said it was planning to extend its existing 3D induced polarisation geophysical survey to cover the full Porphyry South area.
It said the results would be used to refine drill targets for copper-molybdenum mineralisation.
A separate MSc research project on the zone is also underway in collaboration with the University of Exeter.
Field mapping and mineralogical studies had confirmed the presence of key copper minerals - cuprite, malachite and tenorite - as well as geochemical indicators consistent with a phyllic alteration zone, typically associated with the upper levels of porphyry systems.
At 1046 BST, shares in Guardian Metal Resources were down 1.61% at 55.1p.
Reporting by Josh White for Sharecast.com.
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