Guardian Metal Resources (LSE:GMET) is acquiring Lincoln Estate Groups, which includes 841 acres of real property and 2,540 acre-feet of annual water rights located less than 10 miles from the Tempiute Tungsten Project in the US.
Under the acquisition, Guardian Metal will pay US$1.3 million ($1.84 million) in cash.
Guardian Metal says securing water and land rights marks an important milestone for the Tempiute Project, with various workstreams continuing to advance.
Combined with Tempiute’s existing infrastructure, this acquisition enhances the project’s development potential and advances the company’s goal of building a resilient US domestic tungsten supply chain, reducing reliance on foreign sources while reinforcing economic and defence security.
CEO Oliver Friesen says these rights, together with the infrastructure remaining from Tempiute’s last period of operation in the 1980s, further strengthen the project’s foundation for redevelopment.
“Our onsite team continues to make meaningful progress across multiple workstreams, and this acquisition secures a range of strategic opportunities that will facilitate the next stages of project exploration and development,” Friesen says.
“We look forward to providing further updates as these workstreams advance, including ongoing resource-focused drilling.”
Guardian Metal Resources is a mineral explorer focused on driving the revival of US-mined tungsten production and strengthening US defence metal independence.
Write to Aaliyah Rogan at Mining.com.au
Images: Guardian Metal Resources
