Metals One Secures Strategic Swales Gold Property in Nevada, Launches Exploration

Metals One just made a move that should perk up the ears of anyone with an interest in gold exploration. The formal acquisition of the Swales Gold Property in Nevada isn’t just another land grab – it’s a calculated step into one of the world’s most prolific gold districts. Here’s why this deserves attention.

The Deal: Securing a Foothold in the Golden State

Metals One has crossed the t’s and dotted the i’s on its acquisition of the Swales Gold Property. Key mechanics of the deal include:

• New Nevada Subsidiary: Created “Metals One Nevada Inc.” to hold the exploration rights.
• Lease Terms: Secured a 10-year exploration lease (expiring Dec 2031) with rights to renew for two additional 10-year periods. Currently, 6.5 years remain.
• Option to Own: Holds an option to acquire 100% ownership for US$750,000 (cash or equity).
• Cost: Paid US$100,000 cash upfront + granted a 2% Net Smelter Return (NSR) royalty to the seller (Nevada Canyon Gold Corp.).
• Scale: Project now encompasses 139 contiguous unpatented mining claims (~2,780 acres).

This structure provides immediate control and significant optionality without a massive initial cash outlay. Minimal historical expenditure means a clean slate for exploration.

Location, Location, Location: Why Nevada? Why Swales?

This isn’t just any patch of desert. Nevada is the undisputed heavyweight of US gold production:

• Produces ~75% of US gold output.
• Ranks as the 5th largest gold producer globally.
• Elko County offers excellent infrastructure and is a mining-friendly jurisdiction.

Proximity is Key

The Swales Property sits just 13 miles northeast of Nevada Gold Mines’ colossal Gold Quarry Mine (part of the Carlin Complex) and 16 miles southeast of the Goldstrike Mine. The Carlin Trend, on Swales’ doorstep, is legendary:

• Historical production exceeding 100 million ounces of gold.
• Still holds over 21 million ounces in reserves.

Geological Sweet Spot

Swales isn’t just near the action; it shares the critical geology. It’s underlain by both the upper and lower plates of the Roberts Mountains Thrust – the very setting that makes the Carlin Trend so fabulously endowed. This means the property has the ideal geological conditions for hosting Carlin-type gold deposits. Crucially, it’s had minimal modern exploration, representing a genuine, underexplored opportunity in a proven gold factory.