Guardian Metal Resources plc (LON:GMET) shares rose 6.6% to 107.65p after the company reported high-grade gold, silver and copper results from its Garfield project in Nevada and announced the appointment of experienced mining executive Michael Schlumpberger to its board.
Recent sampling at the Garfield project’s Power Line zone returned standout assays including gold at 18.3 grammes per tonne, 145 g/t silver, and 14% copper.
Geophysical work at the Freeze zone identified a 500-metre chargeable feature extending from historic underground workings, representing a promising drill target.
The company also expanded its footprint with 42 additional mining claims at the Freeze North zone, extending the mineralised corridor to over 4km.
Chief executive Oliver Friesen said the company is "very encouraged" by the expanding scale of the epithermal system at the Garfield project following a recent site visit by consulting economic geologist Dr Lawrence Carter.
"While tungsten remains our core focus at Guardian Metal, recent results from both Garfield and Golconda underscore the value of our diversified portfolio.
"We will continue to advance and assess our Nevada gold assets in a disciplined way, ensuring any future partnerships are structured to maximise value for our shareholders."
Separately, the company appointed former American Pacific Borates CEO Schlumpberger as non-executive director, replacing Mick Billing, who is retiring after four years.
Executive chairman JT Starzecki said Schlumpberger’s expertise would support Guardian’s goal of advancing its Pilot Mountain and Tempiute tungsten projects to production and helping establish a domestic US tungsten supply chain.