Last checked at 27 Apr 2021 07:00
To view the announcement with the illustrative images please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/6324W_1-2021-4-26.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
27 April 2021
EMPIRE METALS LIMITED
Drilling Recommences Alongside Initial Non-Compliant Resource andOther Studies at Eclipse Gold Project
Empire Metals Limited ('Empire' or the 'Company'), the AIM-quoted exploration and resource development company, is pleased to confirm that the next phase of works at the Company's Eclipse Gold Project, located 55km north-east of Kalgoorlie, Western Australia ('Eclipse' or the 'Project'), as announced on 17 March 2021, has commenced.
Drill Programme
The fully funded drill programme is focussed on two main objectives:
1. Resource drilling at Eclipse Mine target - 200m of diamond drilling in three holes to duplicate selected recent reverse circulation ("RC") drillholes for resource estimation purposes, to enable initial geotechnical core logging as input to a preliminary pit design, and to provide samples for metallurgical testing.
2. Expansion drilling at new Jack's Dream discovery - 1,700m of RC drilling in 17 holes, mainly focussed on infill drilling adjacent to wide intersections of mineralisation and high-grade intercepts around the Jack's Dream workings, north-west of the Eclipse shaft, to further expand the mineralisation and potential resources.
Maiden Resource at Eclipse
An initial non-compliant resource has been prepared for the Eclipse shaft area. The non-compliant resource, based on a cut-off grade of 1.3 g/t Au and a minimum downhole length of 2m, is below.
Tonnes | Au (g/t) (cut*) | Au ounces (cut*) |
92,913 | 2.25 | 6,706 |
* The data was top-cut at 22 g/t Au
The current diamond drilling and other works (metallurgical testing etc) will enable an updated resource estimate to be prepared, compliant with JORC 2012.
Eclipse Mine Target
Work is also continuing at the Eclipse Mine Target on optimisations for a potential open pit which may be suitable for initial trial mining utilising toll treatment. Metallurgical test work on samples from the diamond drill programme will also feed into these studies along with geotechnical logging to confirm slope design assumptions, and an initial environmental study which is currently underway.
Mike Struthers, Director of Empire Metals, said: "This next phase of drilling around the Jack's Dream old workings will be especially interesting to see if we can extend the wide near-surface mineralised intercepts we reported previously. There is potential for this to become a satellite to the Eclipse Mine target, expanding the resources and open pit mining opportunity.
"Meanwhile our work on resources, pit optimisations and related studies at the Eclipse Mine target continues. Initial assessments indicate an open pit operation at Eclipse would fall within the small-scale mining legislation in Western Australia, which provides a fast-track route to production whilst minimising the environmental footprint, but further technical data are required to confirm certain design assumptions. The trial mining route, utilising toll treatment, would provide invaluable metallurgical and operational data.
"We look forwards to updating the market as results from drilling and other works becomes available."
Competent Person
The technical information in this report that relates to the Eclipse Gold Project has been compiled by Mr Darryl Mapleson, a full-time employee of BM Geological Services. Mr Mapleson is a Fellow of the Australian Institute of Mining and Metallurgy. Mr Mapleson has been engaged as a consultant by Empire Metals Limited. Mr Mapleson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Mapleson consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
Mike Struthers | Empire Metals Ltd | Company | Tel: 020 7907 9327 |
Ewan Leggat | S. P. Angel Corporate Finance LLP | Nomad & Broker | Tel: 020 3470 0470 |
Adam Cowl | S. P. Angel Corporate Finance LLP | Nomad & Broker | Tel: 020 3470 0470 |
Damon Heath | Shard Capital Partners LLP | Joint Broker | Tel: 020 7186 9950 |
Susie Geliher | St Brides Partners Ltd | PR | Tel: 020 7236 1177 |
Cosima Akerman | St Brides Partners Ltd | PR | Tel: 020 7236 1177 |
About Empire Metals Limited
Empire Metals' primary focus is on the Eclipse Gold Project in Western Australia which produced 954 tonnes @ 24.6 g/t Au for 754.25 oz Au from the Eclipse shaft which operated up to 1910. Empire owns 75% of Eclipse with a right to acquire a further 25%.
The Company also has a 50% joint venture in Georgia which covers an area of over 860 sq km and has a 30-year mining licence. The joint venture covers a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which is due to advance to Feasibility Study.
The Board continues to evaluate opportunities through which to realise the value of its wider portfolio and reviews further assets which meet the Company's investment criteria.