Is Golden Metal Resources on the cusp of a truly transformational period
“…We have a tonne of intrinsic inherent value right now in our Pilot Mountain project…”
It’s the first anniversary of Golden Metal Resources’ IPO, and when the explorer listed much commentary was made about the company’s Pilot Mountain asset believed to host the largest undeveloped tungsten deposit on U.S. soil.
One year on and investors have learned that Pilot might just be yielding even more in the form of a porphyry system and that is sweet music to the ears of chief executive and geologist Oliver Friesen who describes them as transformational.
“They represent by far and away the most important source of copper globally. I went through the top 10 list of biggest copper mines in the world. I think eight or nine of them were porphyry systems. They’re quite large and they can be quite big prizes when you find them.”
Obviously a discovery would also be ‘quite’ significant for shareholders if one was made, and sometimes it’s a parambulation across the estate that is just as important at unearthing as all the scientific testing.
“As the magnetic survey was being completed,”says Friesen, “one of the operators walked over what’s part of the porphyry, or the magnetic anomaly surface and found some pretty impressive historical trenches with quite a bit of copper mineralization at surface right above that magnetic anomaly. So all these factors continue to build up and increase our confidence.”
Market confidence too has been demonstrated by a doubling of the share price since the start of 2024 and one hopes it’s because investors share Friesen’s excitement about the drilling programme.
“It’s going to be testing a lot of different targets and looking to prove up our multiple objectives, which is to increase our understanding of the resource, but also make new discoveries.”
Those objectives Friesen hopes will be achieved in the next 12-24 months.
As Oliver explains to Sarah Lowther, as well as fresh financing coming into the business, there’s a shortened timeline for shareholders to learn about drilling results particularly as samples are being driven to laboratories.
Golden Metal Resources features in our mining companies to watch in 2024 article
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The author was remunerated but does not hold shares in the company
