Empire Metals Ltd - Gold and copper miner with assets in Australia, Georgia and Austria - Notes "encouraging" results from its third phase of reverse circulation and infill diamond drilling at the Eclipse gold project in Western Australia. Says drilling results - from 19 holes totalling 1,893 metres - identified several mineralised veins running almost parallel to the Eclipse vein, referred to as 'Twin Shafts'.
Notes significant drilling intercepts, including: 4 metres at 4.78 grams of gold per tonne from 66 metres downhole at Twin Shaft; 5 metres at 3.54 grams of gold per tonne from 126 metres deep at Jack's Dream area; and 2 metres at 3.65 grams of gold per tonne from 53 metres in the Eclipse drill hole.
Managing Director Shaun Bunn says: "Exploration work to date continues to bear fruit and the footprint of mineralisation at Eclipse is starting to gain scale. Work at Eclipse will continue to evaluate and extend the mineralisation at Twin Shafts and Jack's Dream, and we are also now looking forwards to the first results for our initial soils programme at Central Menzies."
Empire Metals has a 75% interest in the high-grade Eclipse gold project, with an option to acquire the remaining 25%.
Current stock price: 2.59 pence, up 7.8% on Wednesday afternoon
Year-to-date change: down 32%
By Scarlett Butler; scarlettbutler@alliancenews.com
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Empire Metals (EEE)