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LONDON - Guardian Metal Resources plc (LON:GMET, OTCQX:GMTLF) has acquired the historical Schofield open-pit mine and surrounding claims, expanding its Tempiute tungsten project in Nevada, according to a company press release issued Monday.
The acquisition includes 18 Bureau of Land Management unpatented lode mining claims, one placer claim, and three mill site claims adjacent to Guardian Metal’s existing holdings. The purchase, valued at $40,000, extends the mineralised strike length at Tempiute to approximately 3 kilometers.
The newly acquired claims are royalty-free and directly held by Guardian Metal’s U.S. subsidiary. The company stated that the Schofield Mine area offers potential for defining near-surface tungsten resources, with previous exploration by Union Carbide Corporation in the late 1970s confirming mineralisation beneath the mine.
"The acquisition of these subsurface rights is another very positive step towards unlocking the full potential of the Tempiute district," said Oliver Friesen, CEO of Guardian Metal, in the press release.
Guardian Metal plans to conduct geological mapping, geochemical sampling, and multiple geophysical surveys at the site, including high-resolution drone magnetics and induced polarisation surveys. The company has secured a drill rig for an upcoming drilling campaign.
The Tempiute project, formerly known as the Emerson (NYSE:EMR) Tungsten Mine, is located in south-central Nevada, less than 250 miles southeast of Guardian Metal’s Pilot Mountain tungsten project. The company recently received a $6.2 million award from the United States Department of Defense for Pilot Mountain and completed a $21 million equity raise.
Guardian Metal aims to provide the United States with a domestically mined source of tungsten, which is considered a critical mineral.
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