(Alliance News) - Golden Metal Resources PLC on Monday touted the prospectivity of the Garfield project in Nevada, after testing revealed "extensive" high-grade copper, silver and gold mineralisation.
Golden Metal Resources is a strategic mineral exploration and development company focused on Nevada, US. Meanwhile, Sunrise Resources PLC - which also noted the results - holds a 2% net smelter return royalty in the project.
According to Golden Metal, recent testing confirmed that large-scale skarn and porphyry type copper, silver and gold mineralisation extends over a large footprint.
This indicates the potential for Garfield to host a material copper deposit, Golden Metal added.
"Today's announcement demonstrates that our 100% owned Garfield Project has the potential to host a material copper deposit. Previous exploration work demonstrated an extensive copper footprint at Garfield, however the latest findings have far exceeded the company's expectation," said Chief Executive Officer Oliver Friesen.
Sunrise Resources shares were flat at 0.069 pence each in London on Monday, while Golden Metal shares were trading 1.0% higher at 7.83p.
By Holly Beveridge, Alliance News reporter
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Sunrise Res (SRES)
Golden Metal Re (GMET)