Empire Metals Share News (EEE)

(Sharecast News) - Resources explorer and developer Empire Metals reported multiple "significant" intercepts from the reverse circulation drilling recently completed at the Eclipse-Gindalbie gold project on Tuesday, 55 kilometres north-east of Kalgoorlie in Western Australia.

The AIM-traded firm said 26 holes were drilled for a total of 3,360 metres, focused mainly on extending the known mineralised trends along strike and at depth around some of the historical gold mines such as Homeward Bound, Bulletin, Eclipse and Jack's Dream, as well as the small pit at Budd's Find.

Of the 13 holes drilled at the Homeward Bound target, four reported significant intercepts with the best of the drill holes being GPRC22_027, which intersected three new mineralised zones.

Those zones included two metres at 1.92 grams of gold per tonne from 79 metres downhole, one metre at 2.97 grams per tonne from 87 metres downhole, and two metres at 2.09 grams per tonne from 106 metres downhole.

Significant intercepts were also reported at Budd's Find and Bulletin from four of the seven holes drilled, including two metres at 3.3 grams of gold per tonne from 117 metres downhole at Budd's Find, and one metre at 1.72 grams per tonne from 65 metres downhole at Bulletin.

Of the six holes drilled around the Eclipse and Jack's Dream shafts, meanwhile, two reported significant intercepts included three metres at 2.2 grams of gold per tonne from 165 metres at Eclipse, and two metres at 0.85 grams per tonne from 184 metres at Jack's Dream.

"These results are very encouraging having returned multiple significant intercepts which supports our hypothesis that the combined Eclipse-Gindalbie project has the potential to support a significant gold resource," said managing director Shaun Bunn.

"In particular, the holes completed at the Homeward Bound shaft and Budd's Find open pit have provided important structural data on the direction of the gold mineralised veins which will advance our technical team's understanding of the structural model of the wider project area.

"This drilling campaign stepped out north and south along the Homeward Bound trend and was aimed at extending the known strike length around the historical Homeward Bound shaft."

Bunn said the drilling not only confirmed that the previously-identified mineralised veins continued at depth, but also identified a previously-unknown parallel mineralised system to the east of the old Homeward Bound mine shaft.

"We also drilled to extend the mineralised zone around Budd's Find and discovered significant gold mineralisation well below the current Budd's Find small open pit, from 117 metres downhole.

"The Budd's Find shear zone was consistently intersected by the recent drilling close to target depth and remains open along strike to the NW and down-dip.

"Similarly, the deeper drilling at both Eclipse and Jack's Dream intercepted significant gold mineralisation below the previously identified mineralised zones, from 165 and 184 metres downhole, respectively."

At 1438 BST, shares in Empire Metals were down 2.22% at 1.1p.

Reporting by Josh White at Sharecast.com.