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Associated Press
03-06-2025
- Business
- Associated Press
Guardian Metal Resources PLC Announces Garfield Project
Garfield Project - Exploration Update Very High-Grade Gold-Silver-Copper Assay Results LONDON, UNITED KINGDOM / ACCESS Newswire / June 3, 2025 / Guardian Metal Resources plc (LON:GMET)(OTCQX:GMTLF), a strategic development and mineral exploration company focused on tungsten in Nevada, USA, is pleased to provide an exploration update from its 100%-owned Garfield project ('Garfield'), located in the Walker Lane Mineral Belt. Guardian Metal's main objective is to lead the re-establishment of domestic tungsten production in the United States. Results from the Company's projects highlight Nevada's mineral potential and underscore the state's strategic importance in securing a stable and cost-effective supply of critical and precious metals for the USA. Further to the Company's announcement on 24 April 2025, final analytical results from 21 rock samples have been received and are summarised below, as well as maps which outline the latest Garfield claim position1. While the Company remains focused on its two co-flagship tungsten assets-Pilot Mountain and Tempiute-it recognises the added opportunity its Garfield and Golconda projects represent for its shareholders. Oliver Friesen, CEO of Guardian Metal, commented: 'Once again our low-cost exploration at Garfield has delivered meaningful results to the business. It is also worth reiterating that we remain focused on structuring any future partnerships around our non-core assets in a way that delivers clear benefits to our shareholders and supports long-term project growth. 'As the resurgence of U.S. mining accelerates, Guardian Metal is well positioned to contribute meaningfully, offering investors direct exposure through our flagship tungsten assets and additional blue-sky upside from early-stage base and precious metal projects like Garfield and Golconda.' TECHNICAL SUMMARY Table 1: Selected assay results for rock samples collected from geological field work in April 2025 Table Note: Samples were assayed by ALS USA Inc using analytical methods Au-ICP21 and ME-MS61, and overlimit analytical methods Au-GRA21, Ag-OG62 and Cu-OG62. BACKGROUND Guardian Metal recently retained Dr Lawrence Carter, an independent magmatic-hydrothermal mineral system expert, to conduct a geological field review of the low-sulphidation epithermal gold potential within the Freeze and Pamlico Zones of the Garfield Project. The initial findings from the geological field work at the Pamlico and Freeze zones were announced on 24 April 20251 along with overlimit assay results for previously analysed high-grade samples from Pamlico, and the newly identified silica-adularia alteration observed led to the Company to immediately stake the ground comprising the new Freeze East Zone. GEOLOGY UPDATE Geological mapping of epithermal quartz veins and historical mine workings across the Pamlico and Freeze Zones has identified that high grade Au-Ag-Cu epithermal mineralisation (Table 1, Figures 1-3) is consistently orientated along WNW-ESE trending structures. The same orientations are noted for chalcedonic-opaline epithermal quartz veins in the newly claimed area of silica-adularia altered volcaniclastics (with adularia confirmed by K-feldspar staining of rock slabs, Figure 3) in the 'Freeze East Zone' (Figure 1). Due to the adularia alteration, the Company considers the newly claimed Freeze East Zone as prospective for underlying precious metal-hosting epithermal vein style mineralisation. In the 'High Grade Zone', copper-magnetite-skarn dominated mineralisation is focussed at the margins of a granitic intrusion. However further follow up has observed structures, veins and notably hydrothermal breccias (e.g. Figure 4) of WNW orientation directly along strike of the historical mine workings, and high-grade dump material, in the Freeze Zone. Previously reported high-grade gold and silver grab samples are also aligned along this WNW orientation. The apparent epithermal system has a strike length of circa 6 km denoted by the gold, silver, copper, antimony and lead mineralisation occurrences. As a result, the Company is now investigating whether epithermal style precious metal mineralisation has overprinted the broader Cu skarn mineralisation in the High-Grade and Powerline Zones at Garfield. Figure 1: Map of Garfield property showing the High-Grade, Pamlico, Freeze and (newly claimed) Freeze-East zones with rock/dump sample gold assay results and epithermal features. Figure 2: Photographs of samples of mineralised epithermal colloform-chalcedonic-opaline quartz vein collected from both outcrop and historical mine dumps across the 'Pamlico Zone' and 'Freeze Zone'. See Table 1 for details. Figure 3: Photographs of samples and K-feldspar staining slabs of the silica-adularia altered volcaniclastic rock outcrops in the Freeze East Zone. Yellow stain indicates adularia. Figure 4: Hydrothermal breccia in the High Grade zone, directly along strike from the high grade epithermal vein dump material in the Freeze Zone (Table 1). PROPERTY OWNERSHIP Guardian Metal holds a 100% interest in the Garfield Project through its wholly-owned Nevada operating company, Golden Metal Resources LLC. A 2% Net Smelter Return Royalty ('NSR Royalty') interest, of which 1% can be bought back at any time for US$1,000,000, covers the original Garfield Project claims as well as a 1 mile radius outside of those claims, which covers roughly half of the current 'High-Grade Zone' footprint. The Pamlico and Freeze Zones are entirely royalty free. 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. References 1: Company announcement, Garfield Project - Exploration Update, dated 24 April 2025: ( ) 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. 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 or contact the following: This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit SOURCE: Guardian Metal Resources PLC press release
Indian Express
30-04-2025
- Business
- Indian Express
The story of Golconda Blue, and of India's once-legendary diamonds in Golconda
Christie's has pulled the 23.24 carat Golconda Blue, 'the largest Fancy Vivid Blue Diamond ever to be offered at auction' after 'the owners…made the decision to pursue a sale of the diamond to a family member'. The diamond, according to the British auction house 'among the rarest and most important…ever discovered throughout history', had been expected to fetch $35 million to $50 million at an auction in Geneva on May 14. Diamonds, the hardest of naturally occurring substances, are composed entirely of carbon, and formed under great heat and pressure below the Earth's surface. Their rarity, difficulty in extracting them, and the skill required to cut and polish them for jewellery, have historically made diamonds exclusive and expensive. What is the Golconda Blue? According to Christie's, the blue diamond belonged to Yeshwant Rao Holkar (1908-62), the Maharaja of Indore, who, along with his wife Sanyogitabai Devi, often collected paintings, jewellery, and other fine goods in Europe. In 1923, Yeshwant Rao's father visited the French luxury jewellery company Chaumet to commission a diamond bracelet set with the 23-carat, pear-shaped Golconda Blue. A decade later, Yeshwant Rao commissioned the French brand Mauboussin to set the gem in a necklace that was later worn by his wife. In 1947, the American jeweller Harry Winston bought the blue diamond, sold it briefly to the Maharaja of Baroda, reacquired it, and sold it to the current owner, whom Christie's did not name. The gems of India Rahul Kadakia, Christie's International Head of Jewellery, listed other Golconda diamonds auctioned by them, such as the 78.54 carat Archduke Joseph. Some of the world's most famous diamonds, such as the Koh-i-Noor and the pale pink Darya-i-Nur, were mined in Golconda. According to Christie's, the West's enduring fascination with diamonds began after Alexander brought back the gems to Europe from India in 327 BC. The Venetian Marco Polo wrote in 1292: 'No country but India produces diamonds. Those which are brought to our part of the world are only the refuse, as it were, of the finer and larger stones… In truth they (India) possess all the treasures of the world.' In his book, Diamonds: An Early History of the King of Gems (2018), the British jewellery historian Jack Ogden wrote that until the 1600s, India was by far the most important, if not the only, source of diamonds for the Mediterranean and European worlds. It is difficult to ascertain the exact date when the Golconda trade began, but there are records of Chinese, Filipino, Arab, and Jewish traders looking to India for the gems. Indian diamond markets included Ahmedabad and Goa, and although the stone was also mined in places such as the Panna diamond belt in Madhya Pradesh, Golconda remained the major trading centre, mentioned by travellers throughout history. The French merchant Jean-Baptiste Tavernier (1605-89) wrote that diamond mining in the Golconda district grew at an explosive rate in the mid-17th century. At the Kollur mine, 60,000 diggers and washers were employed. The French traveller Jean de Thévenot (1633-77) noted there was no uniformity in diamond prices, and the king at the time established a monopoly in mining. 'The French Catholic physician Gabriel Dellon, who traveled to India in the late 1660s, noted, 'Suratte (Surat) is a place of great Commerce; Their Diamonds are brought thither out of the Kingdom of Golconda',' Ogden wrote. Dimming allure The discovery of diamonds in Brazil in the 18th century eclipsed India's industry, Ogden wrote. 'It is noted that the output of Indian diamonds in the century or so prior to the discovery of the diamonds in Brazil has been estimated at anything between about 5,000 and 50,000 carats a year. The 1731 fleet from Brazil to Portugal is supposed to have carried no less than 100,000 carats; two years later it was 300,000,' he said. Today, Africa, Australia, and Russia are some of the key players in the diamond industry. In the world of jewellery, gold is seen as a better alternative with value as a long-term investment. 'Blood diamonds', mined in conflict zones or using child labour, have dimmed their shine. Lab-grown diamonds have emerged as a cheaper and more ethical alternative. And yet, as Christie's noted: 'It is Golconda diamonds — with their incomparable quality, mystery and romance, sought by royal houses all over the world — which still reign supreme among gem connoisseurs.'
Indian Express
28-04-2025
- Business
- Indian Express
The Golconda Blue Diamond withdrawn from auction
Days before it was to come under the hammer at a Christie's sale in Geneva on May 14, the Golconda Blue — the largest known vivid blue diamond, with Indian origins — has been withdrawn from the auction. Its owner has, reportedly, decided to sell it within the family. The highlight of the Christie's Magnificent Jewels sale, the 23.24 carat pear-shaped diamond, once belonged to Yeshwant Rao Holkar, the Maharaja of Indore. In 1923, his father had commissioned the French luxury jewellery house Chaumet to set it in a diamond bracelet. In the '30s, Yeshwant Rao appointed jewellery company Mauboussin to put it in a necklace with Indore Pears, a piece that was also worn by the Maharani of Indore for a portrait by French artist Bernard Boutet. Sanyogitabai Devi of Indore (1914-1937), H.H. The Maharani of Indore painted by Bernard Boutet de Monvel in 1934 (courtesy: Christie's) In the 1940s, American luxury jeweller Harry Winston purchased the diamond and reportedly set it with another 23-carat white diamond in a brooch and sold it to the then Maharaja of Baroda, from whom he bought it back and resold it to its current owner, who has now set it in a ring by jewellery designer Joel Arthur Rosenthal (known as 'JAR'). According to a release issued by Christie's, 'The legacy of Golconda diamonds begins with a reference found in a 4th-century Sanskrit manuscript. In 327 BC, Alexander the Great brought diamonds from India to Europe, sparking the West's enduring fascination with these rare gems. By 1292 AD, Marco Polo famously chronicled the captivating beauty of Indian diamonds in his travel writings. The Golgonda Blue, a Fancy vivid blue pear shaped diamond of 23.24 carats, setting by JAR, estimate $35- 50 million (courtesy: Christie's) In the release, Rahul Kadakia, Christie's International Head of Jewellery, states: 'Exceptional noble gems of this calibre come to market once in a lifetime. Throughout its 259-year history, Christie's has offered some of the world's most important Golconda diamonds, including the Archduke Joseph, the Princie, and the Wittelsbach. With its royal heritage, extraordinary colour, and exceptional size, The Golconda Blue is truly one of the rarest blue diamonds in the world.'
News18
28-04-2025
- Business
- News18
Rare 'Golconda Blue' Diamond, Once Owned By Ruler Of Indore, Set For Auction At Christie's In May
The 23.24-carat Golconda Blue diamond, once owned by Indore's Maharaja Yeshwant Rao Holkar, is set for auction at Christie's with an expected price of $35–$50 million. A rare Golconda vivid blue diamond is set to be auctioned at Christie's on May 14. The gem was once owned by the Maharaja of Indore, Yeshwant Rao Holkar. Various reports suggest the diamond, named 'Golconda Blue', weighs in at over 23-carats and its sale is expected to set a record at $35 to $50 million. According to Forbes, if the 23.24-carat diamond went to auction, it would be the largest fancy blue diamond to have been presented at a public sale. In a report, First Post quoted Christie's and stated Yeshwant Rao Holkar's father, Tukoji Rao Holkar III – the then ruler of Indore, obtained the popular Indore Pear diamonds from the French luxury jewellery and watch house, Chaumet, in 1913. Ten years later, Tukoji commissioned Chaumet to set his pear-shaped Golconda blue diamond into a bracelet, it stated. The Golconda Blue, the largest fancy vivid blue diamond ever to come to auction, is set to headline the Christie's Magnificent Jewels sale next month. The auction house estimates it will sell for $35 million to $50 million — Reuters (@Reuters) April 14, 2025 In 1933, Holkar appointed the Parisian jewellery house Mauboussin as his official jeweller. The French company redesigned the Indore king's royal collection and created a long flowing necklace for both the Golconda Blue and the Indore Pears, the report claimed. He acquired the diamond in January 1947 and then set it in a brooch alongside a similar white diamond weighing 23 carats. The famed jeweller later sold the brooch to the Maharaja of Baroda, the report quoted Phillips Auction House. Winston then reacquired the brooch and resold it as a newly designed jewel, ending the blue diamond's journey with the Indian royalty, according to the report. The Forbes said Christie's provided a brief statement saying the unidentified owners of the rare gem decided to sell it within the family. The statement reads: 'The Golconda Blue's historic provenance, uncovered by Christie's research, has generated considerable market interest and much excitement globally. At this time, the owners have made the decision to pursue a sale of the diamond to a family member." A spokesperson for the auction house further reinforced that it was a personal decision by the diamond's owner to sell it within the family. 'We can confirm that neither tariffs nor any financial market movement was responsible for the change," the spokesperson told Forbes.
Yahoo
21-02-2025
- Business
- Yahoo
Guardian Metal Resources PLC Announces Golconda Summit Gold Project
Significant Trenching Results - Golconda Summit High-Grade Gold Results From Trenching Programme Confirmed LONDON, UK / ACCESS Newswire / February 21, 2025 / Guardian Metal Resources plc (LON:GMET)(OTCQX:GMTLF), a strategic mineral exploration and development company focused on tungsten in Nevada, USA, is pleased to announce trenching results (Table 1) that confirm and extend high-grade gold (Au) mineralisation at the 100%-owned Golconda Summit Project ("Golconda," "Golconda Summit," or the "Project") located in the Walker Lane Mineral Belt in northern Nevada, USA (Figure 1). While the Company remains primarily focused on the exploration and development of tungsten at its co-flagship assets in Nevada, supporting the critical reshoring of defence metals to the U.S., it also recognises the growing interest in gold, copper and silver. As such, Guardian remains committed to ensuring that its investors remain exposed to the upside potential of other assets in the portfolio and principally Garfield and Golconda, which have demonstrated strong discovery potential based on the work completed to date. Highlights: Golconda Summit is located within Nevada's most prolific gold belts, alongside multi-million-ounce deposits, underscoring the discovery potential for a Carlin-type gold system. High-grade gold confirmed in trench samples at the 'Trench Zone' including significant results up to 6.10m at 13.12g/t Au sampled across multiple fault structures within Upper Plate Havallah Sequence rocks. The confirmation of high-grade gold within Upper Plate rocks is particularly encouraging as it suggests strong potential for an extensive mineralised Carlin-type gold system to exist at depth within the more favourable Lower Plate host rocks. An extension to the gold bearing system at Golconda has been identified at the 'Thrust Zone' located 550m to the north of the 'Trench Zone'. The 'Thrust Zone' is part of an open ended, 150m long rock chip anomaly which returned trenching results up to 3.05m at 1.94g/t Au. Oliver Friesen, CEO of Guardian Metal, commented: "These trenching results further reinforce our confidence that Golconda Summit has the potential to host a significant Carlin-type gold discovery, situated within the same prolific geological and structural setting as several multi-million-ounce Carlin-type deposits. "The confirmation of high-grade gold within Upper Plate rocks is particularly encouraging as it suggests strong potential for an extensive mineralised system at depth within the more favourable Lower Plate host rocks. Given the sustained strength in the gold price above US $2,900, these results could not come at a better time as we look to ensure that this Project is monetised for our shareholders while we focus on our core mission of reshoring tungsten mined supply back onto U.S. soil." Trench Sampling ProgrammeIn November 2024, the Company completed a 527-metre trenching programme across 10 trenches in the 'Trench' and 'Thrust' zones. The programme aimed to confirm high-grade structures identified by previous operators and test for extensions of the mineralised system. Trenches 10 and 11 were excavated in the central Thrust Zone, whilst trenches 1 to 9 (excluding 6 which was laid out but not trenched) excavated in the Trench Zone located in the southern part of Golconda. Each trench was systematically mapped and sampled at 3.05-metre (10-foot) intervals (with select intervals sampled at shorter intervals), with samples sent for analysis at ALS Global certified laboratories using ME-MS41 and Au-AA23 methods with method Au-GRA21 for overlimit gold samples (Figures 2 and 3). The highlight assay results from trench sampling in the Thrust Zone and the Trench Zone is set out in Table 1. Table 1: Trench Sampling Highlight Assay Results Target Zone Trench Number Assay Result Notes Trench Zone 2 15.24m @ 0.83g/t Au Located 25m south of trench 7 7 3.05m @ 0.54g/t Au 9.14m @ 0.57g/t Au 6.10m @ 3.58g/t Au 8 6.10m @ 13.12g/t Au# 9 11.28m @ 3.73g/t Au Includes 1.52 m @ 22.7 g/t Au# Thrust Zone 10 12.19m @ 0.76 g/t Au 3.05m @ 1.94g/t Au 6.09m @ 0.46g/t Au 11 3.05m @ 0.86g/t Au Located along strike from an As-in-rock anomaly & trench 10 Note: See Figure 3 for trench locations. Results subject to rounding. # By overlimit assay method Au-GRA21. Further InformationThe Golconda Summit Project is located in the Battle Mountain - Eureka and Getchell Gold Trends in very similar geology to the nearby Nevada Gold Mines' Turquoise Ridge Complex Mine (13 Moz @ 5.02 g/t Au)1, Nevada Gold Mines' Lone Tree Complex (4.06 Moz @ 2.06 g/t Au)2 and SSR Mining Inc.'s Marigold Mine (3.16 Moz Au Measured & Indicated Resource)3 (Figure 1). Reconnaissance rock chip sampling and detailed field mapping completed by the Company demonstrated strong arsenic anomalism (a key indicator for Carlin-style gold systems) along the Golconda thrust fault (Figure 2) (reported October 2023)*. This triggered the Company to embark on this trenching campaign to confirm and test for extensions to the mineralised system at Golconda. Company geologists are now working towards 3D integration of these positive results with detailed geological mapping and legacy drill hole data. * Media References 1Bolin, C. L., Fiddes, C., Olcott, J., Yopps, S.W., 2020, Technical Report On The Turquoise Ridge Complex, State Of Nevada, USA, Nevada Gold Mines. 2 Samal, A.R., 2021, NI 43-101 Technical Report on the Mineral Resource Estimates for the Lone Tree Deposit, Nevada, GeoGlobal. 3https:// 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). COMPETENT PERSON STATEMENTThe 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 StatementsThis 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 or contact the following: Guardian Metal Resources plc Oliver Friesen (CEO) Tel:+44 (0) 20 7583 8304 Cairn Financial Advisers LLP Nominated Adviser Sandy Jamieson/Jo Turner/Louise O'Driscoll Tel: +44 20 7213 0880 Shard Capital Partners LLP Lead Broker Damon Heath/Erik Woolgar Tel: +44 (0) 20 7186 9000 This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Guardian Metal Resources PLC View the original press release on ACCESS Newswire Sign in to access your portfolio
