16 May 2024
Golden Metal Resources
plc
('Golden Metal' or the
'Company')
Broker Appointment and change
of Registered Address
Golden Metal Resources plc
(LON:GMET/OTCQB:GMTLF), a strategic development and mineral exploration company
focused on Nevada, USA, announces that the Company has appointed
Shard Capital Partners LLP ("Shard") to act as lead broker to the
Company with immediate effect, First Equity Limited will remain as
joint broker
In recent months Golden Metal has
raised just under £2.5 million through a £750,000 fundraise at a
premium to the market price at the time (announced 11 March 2024)
and £1.74 million through the exercise of warrants. On this basis
the Company has a strong working capital position.
Notwithstanding the strong financial
position of the Company, the Board considers that Shard's
appointment is timely due to its strong institutional connections
both in the UK and abroad, reflecting Golden Metals aspirations to
be a significant player within the western world's growing need to
reshore critical and defence metal supply chains; with a particular
focus on tungsten and copper.
The Company also announces that it
has changed its registered address to Salisbury House, London Wall,
London EC2M 5PS.
The Directors of the Company are
responsible for the release of this announcement.
For further information visit
www.goldenmetalresources.com
or contact the following:
|
Golden 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
(0) 20 7213 0880
|
|
Shard Capital Partners LLP (Lead Broker)
Damon Heath/Erik Woolgar
|
Tel: +44
(0) 20 7186 9000
|
|
First Equity Limited (Joint Broker)
Jonathan Brown/Jason
Robertson
|
Tel: +44
(0) 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 5.4 km2 (1338 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 skarn-type and porphyry style mineralisation and
alteration at the 'High-Grade Zone'. Further mapping, prospecting
and rock sampling was recently completed with results confirming
presence of high-grade copper, silver and gold
mineralisation.
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.