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Golden Metal show Carlin-type in the Silver State

28 October 2022 09:52
AIM:GMET, OTCQB:GMTLF

Golden Metal Resources have highlighted three zones of strongly anomalous arsenic and gold mineralisation from a historical soil survey dataset covering its entire Golconda Summit project in the US state of Nevada.

Rock sample assays also confirmed gold anomalism and strong arsenic — the pathfinder for Carlin-type gold mineralisation.

While difficult to detect, Carlin-type represents some of the globe’s most massive hydrothermal gold deposits, named after the mass-producing mine discovered in the same state as Golconda Summit.

The Power Metal Resources subsidiary said it would seek to secure its UK listing as soon as possible.

“Our 100 per cent owned flagship Pilot Mountain Project has been a source of particular focus for GMT and our investors, with good reason, as we continue to engage in various discussions regarding possible technical and financial engagement at a project level,” chief executive Oliver Friesen said.

Power Metal said this first set of key exploration results had ratified belief in Golconda Summit’s potential to host a Carlin-type deposit.

“The combination of the strategically significant Pilot Mountain Project combined with the blue-sky exploration upside offered by Golconda Summit, as confirmed today, makes Golden Metal, in our view, a unique investment proposition focused on Nevada, USA and we look forward to the planned listing in London,” chief executive Paul Johnson said.

Golden Metal have assay results pending from a geochemical survey at the Garfield project, 3D modelling of geophysics survey data results incoming from Pilot Mountain, and plan to list on the UK capital markets as soon as this quarter.

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