(Alliance News) - Golden Metal Resources PLC on Monday said it has secured drilling permits for an exploration campaign at the Pilot Mountain project in Nevada.
The Nevada-focused metals exploration company, which owns 100% owned Pilot Mountain project, said it has been granted permission to explore a total of 40 drill sites, and said that a minimum of 2,000 meters will be drilled.
The campaign is expected to begin on May 11, Golden Metal said.
Chief Executive Officer Oliver Friesen said: "A huge thanks to everyone on the team for all of the hard work that has gone into finalising preparations for this exciting drilling campaign. So much existing knowledge is held by those who have been involved with the project previously, and we are thrilled that so many were interested in getting involved again as we look to rapidly grow and advance the project given the USA's very pressing need for a domestic source of tungsten. We believe the importance and criticality of this project is nearing all-time highs, and with this drilling programme we aim to both increase in-ground resources and collect import data which will be required in order for us to complete the project's first economic study, further details of which we will announce in due course."
Shares in Golden Metal closed down 1.8% at 14.00 pence each in London on Monday afternoon.
By Sabrina Penty, Alliance News reporter
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Golden Metal Re (GMET)