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Pin to quick picksEmpire Metals Share News (EEE)

Share Price Information for Empire Metals (EEE)

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Share Price: 2.60
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Empire Metals reports more drilling results from Eclipse

Thu, 18th Feb 2021 13:13

(Sharecast News) - Exploration and resource development company Empire Metals announced further assay results from the second phase of reverse circulation drilling at the Eclipse Gold Project on Thursday, reporting that a final total of 4,589 metres of drilling was completed in the second phase, in 44 drill holes.
The AIM-traded firm said Eclipse is located 55 kilometres north-east of Kalgoorlie in Western Australia.

It said the drilling confirmed the existence of a number of parallel veins in addition to the main Eclipse vein, including a different stockwork style of near-surface mineralisation in the vicinity of the Jack's Dream old workings.

They included one intercept of 24 metres at 1.44 grams of gold per tonne from 46 metres downhole, containing two metres at 2.86 grams of gold per tonne and three metres at 5.08 grams of gold per tonne.

Other significant intercepts included eight metres at 2.83 grams of gold per tonne from 118 metres downhole, three metres at 2.61 grams per tonne from 134 metres, and eight metres at 2.32 grams per tonne from 70 metres.

The company also highlighted six metres at 5.52 grams of gold per tonne from 33 metres, and five metres at 4.77 grams per tonne from 49 metres.

Interpretation of the results was underway, and a further work programme would be announced "shortly", which Empire said was likely to include preparation of a JORC-compliant resource and initial pit optimisation studies.

"We have consistently received encouraging results from drilling at Eclipse and this latest suite of results are particularly important as they confirm our belief that there are multiple parallel vein systems present," said director Mike Struthers.

"It is also especially interesting to have identified what appears to be a stockwork style of mineralisation around and beyond the Jack's Dream workings, extending the potential strike length and width of the multiple vein systems at Eclipse by over 300 metres and 250 metres respectively.

"Additional intersections of potentially economic mineralisation within 80 metres of surface further strengthens the company's view that there is clear potential for a profitable open pit operation at Eclipse, and the next phase of work will likely include preparation of a JORC-compliant resource estimate and pit optimisation studies."

At 1254 GMT, shares in Empire Metals were down 1.32% at 3.75p.

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