Metals One PLC (AIM: MET1), an exploration and development firm, announced on May 20, 2025, the staking of 99 additional unpatented mining claims at its Swales Gold Property in Nevada. This expansion increases the project’s footprint to roughly 2,780 acres within the prolific Carlin Trend, a region renowned for significant gold production.
The newly acquired claims are contiguous with the existing holdings and require no additional lease payments. These lands exhibit geological traits similar to those of the nearby Nevada Gold Mines’ Carlin Complex deposits. The Swales Gold Property is strategically located atop the Roberts Mountains thrust, a key geological feature linked to Carlin-type gold mineralization.
Following this expansion, Metals One plans to extend its Phase 1 exploration program. The activities will include detailed geological mapping, comprehensive surface sampling, re-assessment of historical mining sites, and initial geophysical surveys aimed at identifying promising targets across the enlarged property.
Craig Moulton, Metals One Chairman, highlighted the project’s potential amid a strong gold market. The company is working to finalize the Conditional Acquisition of the Swales Gold Property and incorporate the new claims into its exploration plan.
Metals One holds a three-month exclusivity window to complete due diligence and decide on the Conditional Acquisition, as disclosed on May 14, 2025.
