#USA #Nevada #Tungsten #Guardian Metal #Pilot Mountain

U.S. Department of Defense Funds Golden Metal Resources

In a significant move to bolster the domestic critical minerals industry, the U.S. Department of Defense (DoD) has awarded a grant of $6.2 million to Golden Metal Resources (USA) LLC, a wholly-owned subsidiary of Guardian Metal Resources plc. This funding aims to accelerate the development of the Pilot Mountain tungsten project, located in Nevada. This initiative not only supports the project’s growth but also aligns with U.S. national security and economic objectives by fostering a reliable domestic source of tungsten.

Strategic Importance of the Pilot Mountain Project

The Pilot Mountain project, a key focus for Golden Metal Resources, is critical in reestablishing a domestic supply chain for tungsten—a vital mineral in various industries, including defense and technology. The funding comes from the Defense Production Act of 1950, specifically under Title III, which is designed to enhance the production capabilities of essential materials necessary for national defense.

CEO Oliver Friesen expressed gratitude towards the DoD for their unwavering support, acknowledging that this substantial grant represents a turning point for the company. Friesen emphasized the urgency of securing a domestic source of mined tungsten, highlighting the national implications of this project.

Advancing the Pre-Feasibility Study

With the awarded funds, Golden Metal Resources is gearing up to advance its pre-feasibility study for the Pilot Mountain project, marking a vital step toward commercial production. This study will outline the project’s potential scope and profitability, paving the way for further investments and development in the mining of tungsten in the United States.

Chairman J.T. Starzecki also lauded the funding, underscoring its importance in attaining a crucial milestone for the company. This project aims not only to yield tungsten but also foster local job creation and enhance the overall stability of the mineral supply chain within the U.S.

Environmental Considerations

As part of the awarded funding, various environmental studies will be undertaken to ensure that the project complies with regulatory standards and mitigates ecological impacts. These steps are essential in advancing toward commercial production while prioritizing sustainability and responsible mining practices.

This initiative is anticipated to represent the only U.S.-mined source of tungsten, significantly contributing to domestic supply chains and potentially reducing reliance on imported materials. Additionally, the non-dilutive nature of the grant means that Golden Metal's current shareholders will not face dilution, and there are no restrictive commercial covenants tied to the award.

Government Support and Next Steps

The ongoing collaboration between Golden Metal Resources and the U.S. Department of Defense is expected to enhance transparency and allow periodic reporting on the project’s progress. As the team at Guardian Metal moves forward, they are committed to demonstrating how the funds will facilitate advancements in the Pilot Mountain tungsten project and the broader supply of critical materials needed for national defense priorities.

Conclusion

The Department of Defense's investment in the Pilot Mountain project highlights the growing recognition of the importance of securing domestic supplies of critical minerals. With funding in hand, Golden Metal Resources is poised to play a pivotal role in reshaping the landscape of tungsten mining in the U.S., ultimately supporting both economic development and national security.

For more information on the project and updates, interested parties can visit Guardian Metal Resources' official website.