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Associated Press
13-08-2025
- Business
- Associated Press
Guardian Metal Resources PLC - Pilot North: Enlargement Following Assay Results
LONDON, UK / ACCESS Newswire / August 13, 2025 / Guardian Metal Resources plc (LON:GMET)(OTCQB:GMTLF), a strategic development and mineral exploration company focused on tungsten in Nevada, USA, is pleased to provide an update for the Pilot North Tungsten Project ('Pilot North' or the 'Project'), located in the Walker Lane Mineral Belt, approximately 15km northwest of the Company's Pilot Mountain Project in Nevada. Following the acquisition by direct claim staking of Pilot North, announced on 7 July 2025, an additional 42 Bureau of Land Management ('BLM') Lode Claims have now been staked, significantly expanding the overall footprint of the Project and bringing the total number of BLM mining claims to 101, covering an area of ~2,086 acres.1 The claim staking was in response to highly encouraging rock sample assay results from a 22 sample reconnaissance programme. Subsequently, the Company has recently completed a further detailed follow-on rock sampling and geological mapping programme, with the ALS Laboratory assay results pending. The Project was generated by the Company's ongoing regional exploration programme and now encompasses four World War II era tungsten mines.1 Guardian Metal is focussed on leading the re-establishment of US domestic tungsten production, from both Tempiute and from Pilot Mountain, which is believed to be the largest undeveloped tungsten deposit in the United States. The Company's projects demonstrate Nevada's exceptional mineral potential and the important role the state can play in the national race to secure a stable, affordable supply of critical resources for the United States of America. TECHNICAL SUMMARY * Tungsten trioxide (WO3) ppm calculated based on W ppm multiplied by 1.2611. W ppm results are from ALS Laboratories' analytical method ME-MS61, which at Pilot Mountain typically delivers materially lower results for calculated WO3 ppm compared to ALS' tungsten trioxide analytical method ME-XRF15c. ME-XRF15c will now be run for all samples returning over 750ppm W byME-MS61. Overlimit silver, copper and zinc results are by ALS' method Ag-OG62, Cu-OG62 and Zn-OG62 respectively. Oliver Friesen, CEO of Guardian Metal, commented: 'Early results from Pilot North have surpassed our expectations, confirming significant tungsten grades alongside copper, silver, zinc and other critical metals. 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.' BACKGROUND The Company's broader regional exploration programme continues to generate tungsten-copper skarn targets for further exploration. After reconnaissance results were received from Pilot North, the Company immediately acted to stake a further 42 BLM Lode Mining Claims to augment the original Pilot North Project staking, which included 59 claims. Pilot North is located approximately 15 km northwest of the Company's co-flagship Pilot Mountain project and shares the same road access. The Company's expert geological consultant, Dr Lawrence Carter, was on site over the last few weeks undertaking detailed geological mapping and sampling across the Project, and developing strategies to advance exploration as a satellite to the flagship Pilot Mountain project. The Company will further report the findings of this detailed geological field work, as well as assay results, once available. MEDIA Figure 1: Photo from Pilot North (truck for scale). Red/brown areas represent areas with strong skarn-type mineralisation and alteration. PROPERTY OWNERSHIP Guardian Metal holds a 100%, royalty-free interest in the North Pilot Project through its wholly-owned Nevada operating company, Golden Metal Resources LLC. 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 staking/17121172 2 Ross, D.C., 1961. Geology and Mineral Deposits of Mineral County, Nevada. NBMG Bull 58. 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 take responsibility 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
Yahoo
07-08-2025
- Business
- Yahoo
Romios Gold Samples Epithermal Style Gold at the Kinkaid Cu-Au-Ag Project, Nevada
Toronto, Ontario--(Newsfile Corp. - August 7, 2025) - Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to announce that a recent field program carried out by Romios geologists earlier this year at its 100% owned Kinkaid project in the Walker Lane trend of southern Nevada, returned significant gold assays from two newly identified epithermal gold zones. The work also confirmed broad, discoloured porphyry-style alteration zones containing epidote, sericite and local actinolite, encompassing dozens of historic high-grade Cu-Au-Ag+/-barite vein workings mined in the late 1800s to mid-1900s. "These vein workings, alteration zones, and thick, coarse garnet skarns, cluster into five areas each approximately 1 kilometre across, and are believed to represent the tops of multiple porphyry Cu-Au-Ag centres," stated Stephen Burega, President. "The Company plans to advance Kinkaid to drill-ready status through additional sampling, mapping and the application of induced polarization (IP) surveys over these postulated intrusive centres." A detailed corporate presentation on the Kinkaid project is available on the Company's website at: Kinkaid Project | Romios Gold Resources Inc. HIGHLIGHTS* A chip sample returned 13.95 g/t Au from a 15 cm wide hematitic quartz pod/vein, one of several such veins scattered through a greater than 20 metre wide sericitic alteration zone near the Bismark Hill Au-Cu trenches on the southern Kinkaid claims; Representative samples of several nearby quartz veined fracture zones assayed 6.09 g/t Au from an accessible 10 cm portion of a 2 metre wide structure, 3.04 g/t Au over 0.3 metres, and 0.62 g/t Au from a thin 5 cm wide vein, with associated copper values of 0.71% to 1.7% Cu. These mineralized structures are spread across a broad, 75 metre wide area containing abundant mineralized rubble, offering the potential for a zone of considerable width; A 30 metre wide zone of silica flooding, veining and brecciation adjacent to the PM Skarn on the northern Kinkaid claims returned assays of 3.2 g/t Au from a grab sample of brecciated quartzite and 0.28 g/t Au plus 617 ppb Hg (parts per billion mercury) across a 0.5 metre wide chalcedony vein; The brecciated quartzite that assayed 3.2 g/t Au in this recent work represents a new and unexpected, potentially extensive host for mineralization. *Readers should note that grab samples are by their nature selective, and despite our best efforts may not always be representative of the true style and overall grade of mineralization. QA/QC Rock samples reported herein were a mix of chip and grab samples considered generally representative of the various mine dumps, veins and outcrops being sampled. The samples collected in the 2025 program and discussed in this document were submitted to the Standards Council of Canada ISO/IEC 17025:2017 accredited Bureau Veritas laboratory in Reno, Nevada and Vancouver, BC. A rigorous quality assurance and quality control program was implemented in the form of blanks and Certified Reference Material standards inserted at every 10th position in the sample series. The assay results of these standards and blanks have been within the acceptable ranges. Qualified Person The technical information in this news release has been reviewed and approved by John Biczok, Vice President, Exploration for Romios Gold and a Qualified Person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite gold mine in NW Ontario. About Romios Gold Resources Inc. Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious and base metal exploration, focused primarily on gold, copper and silver. As of mid-year 2025, the Company is refocusing its efforts on achieving discoveries through the drill bit on its properties, which are located in some of the richest geological real estate on the North American continent. Holdings include several wholly-owned porphyry copper-gold prospects in BC's "Golden Triangle", the most significant of which is the drill-ready Trek South prospect, considered by many to be among the top undrilled porphyry prospects in the province. Other highly promising porphyry Cu-Au-Ag prospects held by the Company in the general vicinity of Galore Creek include the JW and Red Line projects. Additional wholly-owned interests include two former producers in Nevada: the Kinkaid claims in the Walker Lane Trend covering numerous shallow Au-Ag-Cu workings over what is believed to be one or more porphyry centres, and the Scossa mine property in the Sleeper Trend which is a former high-grade gold producer. The Company also hold a 100% interest in the large-scale Lundmark-Akow Lake Au-Cu property adjacent to the northwest of the Musselwhite Mine, where drilling by the Company has produced highly encouraging VMS-style Au-Cu intersections. Romios also retains an ongoing interest in several properties including a 2% NSR on McEwen Mining's Hislop gold property in Ontario and a 2% NSR on Enduro Metals' Newmont Lake Au-Cu-Ag property in BC. For further information, please visit and/or contact: Kevin M. KeoughChief ExecutiveTel: 613 622-1916Email: kkeough@ Stephen BuregaOfficer PresidentTel: 647 515-3734Email: sburega@ As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (Twitter, Facebook, LinkedIn), please feel free to send direct messages. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the size of the Offering, the completion and terms of the Offering, Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks related to the amendment of the size of the Offering and the completion, terms and expected closing date of the Offering, failure to receive requisite approvals in respect of the Offering, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. To view the source version of this press release, please visit Sign in to access your portfolio
Associated Press
07-07-2025
- Business
- Associated Press
Guardian Metal Resources PLC Announces Pilot North Tungsten Project Acquired via Staking
Pilot North Tungsten Project Acquired via Staking LONDON, UK / ACCESS Newswire / July 7, 2025 / Guardian Metal Resources plc ('Guardian Metal' or the 'Company')(LON:GMET)(OTCQB:GMTLF), a strategic development and mineral exploration company focused on tungsten in Nevada, USA, is pleased to announce that it has acquired additional mining claims in the Walker Lane Mineral Belt, approximately 15km northwest of the Company's Pilot Mountain Project in Nevada, to form what is to be known as the Pilot North Tungsten Project ('Pilot North' or the 'Project'). Guardian Metal is focussed on leading the re-establishment of US domestic tungsten production, centred on Pilot Mountain, which is believed to be the largest undeveloped tungsten deposit in the United States. The Company's projects demonstrate Nevada's exceptional mineral potential and the important role the state can play in the national race to secure a stable, affordable supply of critical resources for the United States of America. The Company has acquired the new Pilot North tungsten and copper Project area through direct mining claim staking of 59 new Bureau of Land Management ('BLM') Lode Claims. The Project was generated by the Company's ongoing regional exploration programme and encapsulates three World War II era tungsten mines.1 Oliver Friesen, CEO of Guardian Metal, commented: 'Following the identification of new targets through our regional exploration programme, we moved quickly to stake 100%-owned claims to form the Pilot North Project, which has highly prospective geology and a history of production, and which is located just 15 km from our flagship Pilot Mountain project. 'The Company's expert geological consultant will be on site before the end of the month to further evaluate the promising Pilot North prospects and assess their potential to complement the ongoing exploration and development at Pilot Mountain.' TECHNICAL SUMMARY BACKGROUND The Company's broader regional exploration programme continues to generate tungsten skarn targets for further exploration. After field assessment of the Pilot North targets, the Company immediately acted to stake a total of 59 BLM Lode Mining Claims to form the Pilot North Project. Pilot North is located approximately 15 km northwest of the Company's co-flagship Pilot Mountain project and shares the same road access. The new Project area encapsulates three World War II era tungsten mines - Copper Head, Western Metals and Jasper - and other historically reported tungsten, copper and iron prospects1. The Company believes these prospects represent genetically related tungsten-copper-polymetallic skarn mineralisation at the contacts of granitic intrusions with limestones of the Luning Formation, a similar geological setting to the deposits at Pilot Mountain. Initial reconnaissance field work by the Company's geological team has confirmed and sampled numerous zones of skarn mineralisation across the Project area, confirmed the locations of the historical mines, and noted evidence for historic exploration pits and bulldozer scrapes in several areas across the Project (Figure 1). Outcropping skarns included copper rich zones, and UV light investigations suggests locally high concentration of scheelite (Figures 2 & 3). Initial grab rock samples from the various zones of skarn mineralisation and gossans across the Project are currently undergoing assay at ALS Laboratories in Reno. The Company's expert geological consultant, Dr Lawrence Carter, will be onsite within two weeks to undertake detailed geological mapping and sampling across the Project, and develop strategies to advance exploration as a satellite to the flagship Pilot Mountain project. The Company will further report the findings of this detailed geological field work as well as assay results once available. Maps of the Project will be shared once the Company has finished consolidating claims over this new and exciting Project. MEDIA Figure 1. Examples of historical small scale mines and trial pits targeting gossans and skarns on the Pilot North Project Figure 2. Example sample of copper rich skarn mineralisation, developed at the contact of a granitic intrusion with limestones of the Luning Formation taken from the Pilot North Project. Figure 3. UV light investigation of hand sample of skarn mineralisation, suggesting high concentrations of scheelite. PROPERTY OWNERSHIP Guardian Metal holds a 100% interest in the North Pilot Project, royalty free, through its wholly-owned Nevada operating company, Golden Metal Resources LLC. 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 Ross, D.C., 1961. Geology and Mineral Deposits of Mineral County, Nevada. NBMG Bull 58. 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). 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
Yahoo
07-07-2025
- Business
- Yahoo
Guardian Metal Resources PLC Announces Pilot North Tungsten Project Acquired via Staking
Pilot North Tungsten Project Acquired via Staking LONDON, UK / / July 7, 2025 / Guardian Metal Resources plc ('Guardian Metal' or the 'Company')(LON:GMET)(OTCQB:GMTLF), a strategic development and mineral exploration company focused on tungsten in Nevada, USA, is pleased to announce that it has acquired additional mining claims in the Walker Lane Mineral Belt, approximately 15km northwest of the Company's Pilot Mountain Project in Nevada, to form what is to be known as the Pilot North Tungsten Project ("Pilot North" or the "Project"). Guardian Metal is focussed on leading the re-establishment of US domestic tungsten production, centred on Pilot Mountain, which is believed to be the largest undeveloped tungsten deposit in the United States. The Company's projects demonstrate Nevada's exceptional mineral potential and the important role the state can play in the national race to secure a stable, affordable supply of critical resources for the United States of America. The Company has acquired the new Pilot North tungsten and copper Project area through direct mining claim staking of 59 new Bureau of Land Management ("BLM") Lode Claims. The Project was generated by the Company's ongoing regional exploration programme and encapsulates three World War II era tungsten mines.1 Oliver Friesen, CEO of Guardian Metal, commented: "Following the identification of new targets through our regional exploration programme, we moved quickly to stake 100%-owned claims to form the Pilot North Project, which has highly prospective geology and a history of production, and which is located just 15 km from our flagship Pilot Mountain project. "The Company's expert geological consultant will be on site before the end of the month to further evaluate the promising Pilot North prospects and assess their potential to complement the ongoing exploration and development at Pilot Mountain." TECHNICAL SUMMARY 59 BLM Lode Mining Claims directly staked across the Pilot North tungsten-copper (W-Cu) Project area. The new Project encapsulates three historical tungsten mines - Copper Head, Western Metals and Jasper.1 Reconnaissance field work has confirmed skarn mineralisation at the contact of granitic intrusions with limestones of the Luning Formation (i.e. the same geology as the Company's Pilot Mountain project), and historical mines and exploration activities. Initial rock samples are currently awaiting assay, but copper oxide mineralisation is visually confirmed and ultraviolet (UV) light investigation suggests high concentrations of scheelite (Figures 1-3). An expert geological consultant will be onsite within two weeks to perform field assessments and develop exploration strategies for the Project with further news, results and accompanying maps to follow. BACKGROUND The Company's broader regional exploration programme continues to generate tungsten skarn targets for further exploration. After field assessment of the Pilot North targets, the Company immediately acted to stake a total of 59 BLM Lode Mining Claims to form the Pilot North Project. Pilot North is located approximately 15 km northwest of the Company's co-flagship Pilot Mountain project and shares the same road access. The new Project area encapsulates three World War II era tungsten mines - Copper Head, Western Metals and Jasper - and other historically reported tungsten, copper and iron prospects1. The Company believes these prospects represent genetically related tungsten-copper-polymetallic skarn mineralisation at the contacts of granitic intrusions with limestones of the Luning Formation, a similar geological setting to the deposits at Pilot Mountain. Initial reconnaissance field work by the Company's geological team has confirmed and sampled numerous zones of skarn mineralisation across the Project area, confirmed the locations of the historical mines, and noted evidence for historic exploration pits and bulldozer scrapes in several areas across the Project (Figure 1). Outcropping skarns included copper rich zones, and UV light investigations suggests locally high concentration of scheelite (Figures 2 & 3). Initial grab rock samples from the various zones of skarn mineralisation and gossans across the Project are currently undergoing assay at ALS Laboratories in Reno. The Company's expert geological consultant, Dr Lawrence Carter, will be onsite within two weeks to undertake detailed geological mapping and sampling across the Project, and develop strategies to advance exploration as a satellite to the flagship Pilot Mountain project. The Company will further report the findings of this detailed geological field work as well as assay results once available. Maps of the Project will be shared once the Company has finished consolidating claims over this new and exciting Project. MEDIA Figure 1. Examples of historical small scale mines and trial pits targeting gossans and skarns on the Pilot North Project Figure 2. Example sample of copper rich skarn mineralisation, developed at the contact of a granitic intrusion with limestones of the Luning Formation taken from the Pilot North Project. Figure 3. UV light investigation of hand sample of skarn mineralisation, suggesting high concentrations of scheelite. PROPERTY OWNERSHIP Guardian Metal holds a 100% interest in the North Pilot Project, royalty free, through its wholly-owned Nevada operating company, Golden Metal Resources LLC. 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 Ross, D.C., 1961. Geology and Mineral Deposits of Mineral County, Nevada. NBMG Bull 58. 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). 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: 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 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
03-07-2025
- Business
- Globe and Mail
Walker Lane Resources Ltd. Receives Positive Results from Airborne Geophysical Surveys and Geological Mapping Completed by Coeur on the Silverknife Property, BC and also are Clarifying Details Related to their recent Nevada Transactions
VANCOUVER, British Columbia, July 03, 2025 (GLOBE NEWSWIRE) -- Walker Lane Resources Ltd. (TSX-V:WLR, FRA: 6YL) (the 'Company' or 'Walker Lane') is pleased to announce that is has received results from Coeur Silvertip Holdings Ltd. ('Coeur') on field geophysical and geological studies completed in late 2024 on the Silverknife Property, British Columbia. Coeur contracted Expert Geophysics Limited ('Expert') and Precision Geophysics ('Precision') to complete the airborne geophysical surveys, and 39627 Yukon Inc. to complete geological mapping of the Silverknife Property and an initial geochemical survey of the northern portion of the property. This work was completed by Coeur as a part of the option agreement for the Silverknife Property with Walker Lane. The four-year option agreement provides for $3.55 million in work expenditures and $500,000 in property payments by Coeur to earn a 75% interest in the Silverknife Property which is immediately adjacent to Coeur's Silvertip Mine claims. The primary results of these work efforts are: The geological map of the property is now significantly revised and better defines the location of prospective lithological units; The geophysical surveys served to: Define the presence of complex fault structures; Present additional conductivity data; Identify a potential new prospective zone in the northeastern section of the property; and Enhance the continued prospectivity of the Tootsee River North, Silverknife Central and Silverknife South zones of exploration prospectivity. Kevin Brewer, President and CEO of Walker Lane noted, 'We are very pleased with that the geological mapping and airborne geophysics has clearly served to better define and confirm the zones of exploration prospectivity. This work identified key structural features such as faults which are known in the region to be controls and loci of mineralization. Other features such the presence of fugitive calcite in outcrops typically demonstrates that you are in close proximity toa potential carbonate replacement deposit ('CRD'). The four prospective areas on the Silverknife property are both significant and of substantial areal extent and present valid drill targets for future exploration efforts. The property has been subjected to limited drilling confined primarily to the Silverknife Prospect that in itself remains open for further expansion along strike and at depth. Given the propensity of potential mineralization in such close proximity to the Silvertip deposit, one of the world's largest and highest grade CRD deposits, finding this much prospectivity is a very exciting development. There clearly is a great amount of work to be completed at Silverknife. We look forward to Coeur's continued commitment to explore Silverknife, which may include some drilling.' Precision Geophysics - Airborne High Resolution Gradient Magnetic and Radiometric Survey Results When magnetic and radiometric data are integrated into a single-pass airborne geophysical survey, they provide complimentary information that serve as a robust geophysical framework. The magnetic and radiometric data collected by Precision was useful in mapping lithology, structure and alteration features present on the Silverknife Property. The Total Magnetic Intensity ('TMI') data (see Figure 1) indicated the potential existence of three main lineaments within the Silverknife Property. In the instance of Silverknife, the lineaments express underlying geological structures such as faults. Faults are important as they present corridors for the migration of mineralizing fluids. Two lineaments, northeasterly and northwesterly trending are prominent throughout the property area. The third lineament is a more northerly feature that occurs in the area of the Silverknife Property. The most prominent structural feature identified from the TMI data, was a northeasterly trending structure known as the SVT NE Fault, which is a major regional fault that transects the central portion of the Silverknife Property. In this area, the SVT NE Fault and the secondary lineaments appear to be in a cross-cutting relationship which are often prime target areas for mineralization, and are considered highly prospective as the coincide with historical soil geochemical anomalies in the Silverknife Central Zone. Geological mapping has also indicated the presence of Atan and Kechika Group limestones in this area which are favorable rock units to host carbonate replacement deposits. The Silvertip mine is characterized as a carbonate replacement deposit. In addition, the potential of additional structures throughout the Silverknife Central Zone to the western boundary of the Silverknife claims presents numerous targets for drilling and expansion of mineralization identified in the Silverknife Property, and this area is yet to be drilled. Figure 1: Total Magnetic Intensity survey with geological and structural interpretation by Symonds (2024). Note the potential cross cutting fault structures in the central portion of the property (after Precision, 2024). The Precision TMI data also indicated a near-north trending fault that cuts the McDame Limestones and Tapioca Group in the Silverknife South Zone. The TMI data was complimented by Residual Magnetic Intensity ('RMI') and Reduced to Magnetic Pole ('RTP') that also showed the same structural lineaments. In-line gradient ('ILG') and horizontal gradient showed the same structure features as the TMI data (see Figures 2a and 2b). Figure 2a: In Line gradient survey (ILG) with lineament interpretation in the Silverknife region (After Precision, 2024). Figure 2b: Horizontal Gradient (HG) with lineament interpretation in the Silverknife region (After Precision, 2024). However, they also showed the potential for more complex faulting along the southern and northern contacts of the Cassiar batholith that could represent block faulting in the metasediments. In addition, this data showed the presence of a north-oriented structure in the northeastern most portion of the Silverknife Property, that presented a new area of exploration prospectivity previously undetected. Calculated Vertical Gradient ('CVG') data (see Figure 3) presented a distinct continuum of structures extending from south of the Silverknife Property into the Silverknife South Zone. Figure 3: Calculated Vertical Gradient (CVG) with lineament interpretation of the Silverknife region (after Precision, 2024). The radiometric data serves to delineate the extent and potential contacts of different lithological rock units. Areas of high potassium were noted to occur in the Tootsee River North and the Northeastern zones. The significance of this data is not yet determined. Expert Geophysics Helicopter-Borne Electromagnetic and Magnetic Survey Results Electromagnetic and magnetic surveys were carried out to: Provide data to aid in mapping bedrock structures and lithologies, including possible alteration and mineralization zones; Provide observations of apparent conductivity corresponding to different frequencies; Inverting EM data to obtain the distribution of resistivity with depth; and Collecting VLF-EM and magnetic data to study properties of the bedrock units. The electromagnetic survey verified information from the data in Precision's surveys but also identified new information (see Figures 4a and 4b). A conductivity low south-southeast of the Silverknife Property suggests the presence of a near surface intrusive in that area. This is important because an intrusive provides a potential heat source and driver for mineralizing fluids into the overlying sediments which comprise of limestones and sandstone which are good hosts for CRD mineralization. The survey also indicated a conductivity high in the northeastern zone further strengthening exploration interest in that area. Figure 4a: Electromagnetic apparent conductivity at 49 Hz in the Silverknife region. Note the anomaly in the northeastern part of the property (After EGL, 2024). Figure 4b: Electromagnetic apparent conductivity at 1067 Hz in the Silverknife region (After EGL, 2024). Several axes of high conductivity/low resistivity were found to transect the Silverknife Property and are coincident with interpreted fault structures (see Figure 5). This relationship is important as mineralization within the Rancheria Silver District is often associated with faults and may also be correlated with the axes of a conductivity anomaly. Three conductive axes occur in the (i) Tootsee River North Zone; (ii) the Silverknife Central Zone; and (iii) coincident with the regional SVT NE Fault structure that transects the central portion of the property. This last axis extends from outside of the Silverknife claim block and thence east-northeasterly across the entire claim block. This therefore represents the potential for a major fault structure with the geophysical signatures of silver rich CRD being that of high conductivity and low resistivity. Additional resistivity data enabled the development of a three-dimensional lithographic model suggesting the orientation and extent of the rock units within the Silverknife Property. This information is expected to significantly aid the planning of future drill programs. VLF-EM data served to further verify other datasets as to the possible extent and location of fault structures within the Silverknife Property. Figure 5: Axes of conductive and resistivity anomalies in the frequency range of 165-267 Hz plotted on a Total Magnetic Intensity color grid (After EGL, 2024). Geological Mapping An updated geological map (see Figure 6) has been constructed from field mapping, drill data, and geophysical surveys. The extent of prospective units to host CRD mineralization has been found to be considerable. More specifically, the highly prospective McDame limestone occurs in both the Tootsee River North Zone and the Silverknife South Zone. Other prospective units in the central part of the property including the Atan and Kechika Group limestones occur within the central portion of the property which is now assumed to be of significant prospectivity from previous known CRD mineralization, and positive geochemical and geophysical signatures. Summary This recent geophysical work in combination with property mapping and previous geophysical data has contributed significantly to the understanding of the geology of the Silverknife Property. It has also contributed significantly to better defining targets for CRD mineralization and assisting to pinpoint targets for extensive drill campaigns. Figure 6: Geology Map of the Silverknife Property (After Symonds, 2024) Clarification of Nevada Transactions The Company wishes to clarify that in its June 9, 2025 Press release all payments to be made to the optionors are to be made in US Dollars, the floor price for the shares that may be used to make property payments is also in US dollars at $0.21 USD, and the maximum number of common shares that could be issued by property are as follows: Tule Canyon: 952,381 Cambridge: 500,000 Silver Mountain: 500,000 for a total number of common shares that could be issued to be 1,952,381 for the life of the agreements. Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data. About Walker Lane Resources Ltd. Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon. The Company intends to initiate exploration programs to advance the drill-ready Tule Canyon (Walker Lane, Nevada) and Amy (Rancheria Silver, B.C.) projects to resource definition stage through proposed drilling campaigns that the Company desires to undertake in the near future. On behalf of the Board: 'Kevin Brewer' Kevin Brewer, President, CEO and Director Walker Lane Resources Ltd. For Further Information and Investor Inquiries: Kevin Brewer, P. Geo., MBA, (Hons), Dip. Mine Eng. President, CEO and Director Tel: (709) 327 8013 kbrewer80@ Suite 1600-409 Granville St., Vancouver, BC, V6C 1T2 Cautionary and Forward-Looking Statements This press release and related figures, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words 'anticipate', 'plans', 'continue', 'estimate', 'expect', 'may', 'will', 'project', 'predict', 'potential', 'should', 'believe' 'targeted', 'can', 'anticipates', 'intends', 'likely', 'should', 'could' or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the Silver Hart, Blue Heaven and Logjam properties in Yukon all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remains subject to the condition of the option of the Silverknife Property with Coeur Silvertip Holdings Ltd. These forward-looking statements reflect the Company's current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company's properties is reliable; the Company's operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company's properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company's current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate. Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company's public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company's control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company. The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes 'future-oriented financial information' or 'financial outlooks' within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue and expenses. The Company's financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company's accountants or auditors. The Company's financial projections represent management's estimates as of the dates indicated thereon. Photos accompanying this announcement are available at:
