28 June 2024
Golden Metal Resources
plc
('Golden Metal' or the
'Company')
US Quotation Upgraded to
OTCQX Market
Golden Metal Resources plc
(LON:GMET, OTCQX:GMTLF), a mineral exploration company focused on
tungsten, copper, silver, gold and lithium within Nevada, USA, is
pleased to announce that the Company has been upgraded from the
OTCQB Market to the OTCQX Market in the USA, where it continues to
trade under the symbol GMTLF.
In addition, as a reminder, Golden
Metal is to change its name to Guardian Metal Resources plc. Formal
papers have been submitted to effect this change and the name
change confirmation is still awaited from Companies House, which is
expected to occur in the coming days. The Company will confirm as
soon as this administrative process is complete and would note the
stock code will remain as LON:GMET and OTXQX:GMTLF.
Oliver Friesen, CEO of Golden Metal,
commented:
"We are delighted that we have been upgraded to the OTCQX
Market, which is a reflection of the positive momentum the Company
continues to build within the US markets and
abroad.
"The Company anticipates a series of operational and corporate
news announcements to the market over the coming weeks and months,
given the extensive operational activities underway and planned in
the field."
About OTCQX
The OTCQX Market is designed for
established, investor-focused U.S. and international companies. To
qualify for OTCQX, companies must meet high financial standards,
follow best practice corporate governance, and demonstrate
compliance with applicable securities laws. Graduating to the OTCQX
Market marks an important milestone for companies, enabling them to
demonstrate their qualifications and build visibility among U.S.
investors.
This communication is a "Reach"
announcement. RNS Reach is a non-regulatory news service. By using
this service an issuer is confirming that the information contained
in this announcement is of a non-regulatory nature. Information
required to be notified under the AIM Rules for Companies, Market
Abuse Regulation or other regulation would be disseminated as an
RNS regulatory announcement and not on RNS Reach.
For further information visit
www.goldenmetalresources.com
or contact the following:
|
Golden Metal Resources plc
Oliver Friesen (CEO)
|
Tel: +44 (0)
20 7583 8304
|
|
Shard Capital Partners LLP
Lead Broker
Damon Heath/Erik Woolgar
|
Tel: +44 (0) 20 7186 9000
|
|
First Equity Limited
Broker
Jonathan Brown/Jason
Robertson
|
Tel: +44 20 7374 2212
|
|
|
|
THE
PROJECTS
Pilot Mountain Project
The Pilot Mountain project is
an advanced exploration and mineral resource definition stage
project located in Mineral County in western Nevada.
The project covers an area of 14.80 km2 (3,904.1 acres)
and is located 200km southeast of Reno and 18km east
of Mina, Nevada. It is well situated for the supply of power,
water and skilled labour and proximity to transport infrastructure
in Mineral County and is centred around four existing
mineral deposits: Garnet; Good Hope; Gunmetal and Desert Scheelite,
all of which possess significant skarn-style
tungsten-copper-silver-zinc mineralisation. The Pilot
Mountain project consists of 176 active lode mining claims and
4 filed mill site claims. The four mill site claims filed at the
former Dunham mill site have secure access to groundwater supply
sufficient for the proposed project.
Garfield Project
The Garfield Project is an exciting
copper-gold-silver prospect consisting of 65 lode mining claims
covering 9.18 km2 (2,268 acres) located in Mineral County,
Nevada, approximately 14km due east of the town
of Hawthorne and 120km due west-northwest
of Tonopah. Exploration to date has included detailed
geochemical sampling and follow up analysis which highlighted the
presence of both porphyry and skarn-type mineralisation and
alteration at the 'High-Grade Zone'. Further to this, mapping,
prospecting and rock sampling was recently completed with results
confirming presence of high-grade copper, silver and gold
mineralisation as well as leading to the bedrock discovery of the
Pamlico Au Zone with individual rock samples up to 18.35g/t Au,
1,225g/t Ag & 1.89% Cu. Following this, geochemical analysis of
the full suite of data confirmed the strong presence of porphyry
style mineralisation across the Project, as well as potentially
overprinting epithermal style mineralisation leading to increased
gold-silver prospectivity.
Kibby Basin Lithium
Project
The Kibby Basin Project covers
two claim packages which are prospective for lithium brine
mineralisation. The southern claim package is less than 250m from a
2022 drillhole which returned a significant interval (169m) of
lithium brine mineralisation which was determined to be open in all
directions. The Project is less than 5km to the southeast of the
Company's flagship Pilot Mountain Project.
Golconda Summit Project
Golden Metal is the operator of the
Golconda Summit project, which is held under an earn-in right to
acquire up to 100 per cent. of the project from the mineral claim
owner pursuant to an option agreement. The Golconda Summit project
is an exploration stage gold and silver project located
in Humboldt County and situated at the confluence of the
Getchell and Battle
Mountain - Eureka metallogenic trends, and consists
of 44 lode mining claims, covering a total area of approximately
3.22 km2 (795.4 acres) located approximately 27km east
of Winnemucca.
Stonewall Project
The Stonewall project is an
exploration stage gold-silver property prospective for epithermal
gold-silver mineralisation. The property consists of 19 lode mining
claims covering 1.59 km2 (392.5 acres) located on the
northern flank of Stonewall Mountain, on the western edge of
the Nellis Airforce Range Restricted Access Area, in Nye
County, Nevada, approximately 24km south-east of the historic gold
mining town of Goldfield and 60km due south
of Tonopah.