Metals One (MET1) has staked an additional 99 claims proximal to the Swales gold property in Nevada.
The staking follows the announcement just a week ago of the conditional acquisition of Swales.
The new, unpatented claims cover approximately 1,980 acres, and significantly enlarge the project footprint to approximately 2,780 acres.
Swales is located within the world-renowned Carlin Trend.
The company now plans an expanded phase 1 exploration programme, which will encompass detailed geological mapping, extensive surface sampling, historical workings re-evaluation, and initial geophysical surveys across the enlarged project area.
The Carlin Trend is one of the richest mining districts in the world, and hosts some of the largest gold mines in the U.S.
"The formal staking of these additional 99 claims underscores our strategic commitment to rapidly advancing the Swales gold property,” said Craig Moulton, chairman of Metals One.
“This expanded claim area considerably increases exposure to the highly prospective geological setting within Nevada's prolific Carlin Trend which includes the Carlin Complex, the largest gold-producing complex in the world. We are excited by the enhanced exploration potential at the project, particularly considering the strong gold price, and are working diligently to conclude the conditional acquisition and integrate the new claims into an expanded phase 1 programme."
Metals One has been granted a period of exclusivity for three months to conduct the due diligence and to decide whether to proceed with the acquisition.
View from Vox
With gold consolidated at way over US$3,000 an ounce, it’s a fine time to be picking up new ground in one of the world’s most prolific gold-mining regions. The prospectivity of Swales looks enticing, and staking more ground around it adds to the potential for discovery once exploration gets underway. Shares in Metals One have strengthened considerably this year, and making deals in hot sectors has certainly helped this trend along.