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Kibby Basin Lithium Project
Kibby Basin Lithium Project.
About this update from Guardian Metal Resources Plc
[{"type":"text","content":"\n\n11 September 2023\nGolden Metal Resources plc\n(\"Golden Metal\" or the \"Company\")\nKibby Basin Lithium Project- Significant Conductor Identified\nGolden Metal Resources plc (LON:GMET), a mineral exploration company focused on tungsten, lithium, gold, copper and silver within Nevada, USA, is pleased to announce the identification of a significant 10km2 conductive zone at its Kibby Basin lithium project in Nevada, USA.\nHighlights:\n- During recent weeks the Company's technical team has conducted a full historical data compilation review (the \"Review\") over its Kibby North and Kibby South lithium brine Properties (collectively the \"Lithium Properties\") (see figures 1 & 2 below).\n \n- The Review included detailed examination of the Quantec Geoscience Ltd magnetotelluric (\"MT\") geophysics survey report dated 28 February 2018 which covers the majority of the Kibby Valley Basin, and which was commissioned by Belmont Resources Inc. (\"Belmont\").1\n \n- The MT survey highlighted a distinct conductive (low resistivity <2 Ohm.m) brine aquifer linked anomaly totalling circa 10km2, of which approximately 3.1km2 is now covered by the Lithium Properties.\n \n- Two widely spaced drill holes outside the Lithium Properties subsequently completed by Belmont's joint venture partner Marquee Resources Ltd (\"Marquee\") in 2022, demonstrated that the MT anomaly is coincident with significant lithium brine mineralisation including intervals containing up to 924 ppm lithium (Li) with greater than 300ppm Li over thicknesses in excess of 450m.\n \n- Marquee drillhole KM22-02, which is located only 250m from the Golden Metals Kibby South licence boundary (see figure 2 below), intersected lithium mineralisation averaging 558ppm Li (and a high of 860 ppm Li) over 169m from the top of the aquifer at 365m, with open lithium mineralisation continuing to the bottom of the hole, averaging 379 ppm Li over 451m, from drill core assays. Brine water sampling analyses from the hole correlated with the core assay samples with total dissolved lithium content increasing exponentially with depth to a peak of 27 mg/L at 549m.2\n \n- Golden Metal bel...