Guardian Metal Advances Pilot Mountain Tungsten Study and Exploration in Nevada

Golden Metal Resources Plc ( (GB:GMET) ) just unveiled an announcement.

Guardian Metal Resources reported strong progress on the pre-feasibility study for its 100%-owned Pilot Mountain tungsten project in Nevada, supported by a $6.2 million U.S. Defense Production Act investment. The study, led by Guardian Metal with engineering partner Samuel Engineering and specialist consultants, is moving the project toward mine permitting and definitive feasibility work as part of efforts to deliver the first new hard-rock tungsten mine on U.S. soil in more than a decade.

Key PFS workstreams are advancing on schedule, including completion of drilling for resource evaluation at the Desert Scheelite and Garnet Zones, open-pit mine planning, and drafting of a mine Plan of Operations targeted for submission to U.S. regulators in August 2026. Metallurgical test work indicates a conventional flotation circuit capable of producing scheelite concentrate, with potential silver and zinc by-products, while engineering, hydrogeology and site infrastructure planning are progressing to provide data required for permitting.

Alongside study work, Guardian Metal is pushing exploration across multiple zones at Pilot Mountain, with infill drilling at Garnet and initial holes at Good Hope returning encouraging visual scheelite mineralisation and first-ever drilling at the Gunmetal Zone expected by the end of June 2026. Additional drilling at the eastern extension of the Desert Scheelite Zone has also intersected scheelite, and the company plans a comprehensive exploration update after the PFS, highlighting continued resource growth potential across the broader land package.

The momentum at Pilot Mountain underscores Guardian Metal’s strategy to become a leading U.S. supplier of tungsten, a critical metal for defense and advanced technologies, at a time of tightening Chinese exports and growing concern over supply security. For investors and policymakers, the progress signals a maturing project that is edging closer to permitting and potential development, reinforcing U.S. ambitions to rebuild domestic capacity in strategic minerals.

The most recent analyst rating on (GB:GMET) stock is a Buy with a £4.50 price target. To see the full list of analyst forecasts on Golden Metal Resources Plc stock, see the GB:GMET Stock Forecast page.

Spark’s Take on GMET Stock

According to Spark, TipRanks’ AI Analyst, GMET is a Neutral.

The score is held back primarily by weak financial performance (minimal revenue, widening losses, and increasing cash burn), partially offset by a debt-free, equity-supported balance sheet. Technicals are comparatively strong with clear upward trend/momentum, but valuation remains unattractive/unclear due to ongoing losses and no dividend data.

To see Spark’s full report on GMET stock, click here.

More about Golden Metal Resources Plc

Guardian Metal Resources is a strategic mineral exploration company focused on reviving U.S. mined tungsten production, with a primary focus on projects in Nevada, one of the top-rated mining jurisdictions in the country. It is advancing the Pilot Mountain and Tempiute tungsten projects, targeting supply into defense, energy transition, technology and industrial markets amid tightening Chinese export restrictions and heightened U.S. supply-chain concerns.

The company operates through its wholly owned U.S. subsidiary Golden Metal Resources (USA) LLC, which received a $6.2 million Defense Production Act Title III investment from the U.S. Department of War in 2025 to support the Pilot Mountain pre-feasibility study. Guardian Metal also enhanced its capital markets profile with a listing on the NYSE American in March 2026, positioning itself as a potential key domestic source of this critical defense metal.

Average Trading Volume: 517,115

Technical Sentiment Signal: Buy

Current Market Cap: £462.5M

For detailed information about GMET stock, go to TipRanks’ Stock Analysis page.