Guardian Metal Resources PLC (OTCMKTS: GMTLF) (LON: GMET) (FRA: 8TM) has obtained new claims that hold a trio of past producing tungsten mines from the Second World War era: Copper Head, Jasper and Western Metals. They reside a short distance from the company’s flagship mining project — south of Reno, Nevada.
Announced on Monday, the claims collectively form the Pilot North tungsten-copper project — 15 kilometres north of the more advanced Pilot Mountain operation. Guardian claims that Pilot Mountain holds the number one undeveloped tungsten deposit in the country. It has 34.3 kilotons of contained tungsten metal and significant quantities of silver and zinc, according to the most recent mineral resource estimate.
However, Guardian’s claim about Pilot Mountain is debatable as there are other equally promising large-scale deposits in Alaska and California at Bear Mountain and the Atolia district.
“Following the identification of new targets through our regional exploration programme, we moved quickly to stake 100 per cent-owned claims to form the Pilot North Project,” said chief executive, Oliver Friesen, in the announcement, “which has highly prospective geology and a history of production.”
An expert geological consultant will be on-site within the next couple weeks to conduct sampling and mapping work while formulating a game plan for the new tungsten asset. Meanwhile, multiple rock samples are currently being examined at a lab in Reno.
The news comes as the price of the critical mineral is sitting at a 12-year high, largely driven by China’s recently implemented export controls. Additionally, the copper market has been looking appealing this year as well.
A 1-kilogram tungsten bar currently costs US$53.89, according to the Shanghai Metals Market. Furthermore, a metric ton unit, meaning 10 kilograms of tungsten trioxide (WO₃) — a common measurement used in the industry — is going for a high price of US$450.
Moreover, the Copper Continuous Contract (COMEX: HGW00) has risen by over 24 per cent year-to-date. Copper hit an all-time high in late March at US$5.22 before sliding back down to its current price of US$5.02 per pound.
Copper-rich sample taken from the newly staked project. Photo credit: Guardian Metal Resources
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The Chinese shuttering their supply of tungsten has made Pilot Mountain and the newly staked neighbouring project become appealing for U.S. national security. China has historically produced 80 per cent of the global supply.
It has also become one of the most highly promising regions for antimony mining. The price of this critical mineral has skyrocketed in recent months, also largely due to the Chinese tightening the grip on their monopoly.
Other junior mining companies, like NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) and Xtra Energy Ord Shs (OTCMKTS: XTPT), have been ramping up their antimony exploration campaigns to try and capitalize on the increasing rate of government intrigue. Xtra Energy just started road construction at the American Antimony Project in Churchill County.
“Recent executive orders from the Trump administration underscore a strategic push to reshore critical metal supply chains,” Friesen highlighted at the end of May, “particularly tungsten, given its importance to the defence sector and United States’ national security.”
Nevada and Arizona are the most abundant mining jurisdictions in the United States when it comes to strategic minerals and precious metals.
#GMET A brilliant week spent in the field at the various Guardian Metal Resources properties in Nevada. The future is BRIGHT for Tungsten!! pic.twitter.com/P5kaKj7oe7
— J.T. Starzecki (@StarzeckiJ) February 14, 2025
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