Last checked at 18 Feb 2021 07:00
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
18 February 2021
Empire Metals Limited ('Empire' or the 'Company')
Further Drilling Results at Eclipse Gold Project
Empire Metals Limited, the AIM-quoted exploration and resource development company, is pleased to announce further assay results from the second phase of reverse circulation ('RC') drilling at the Eclipse Gold Project, located 55km north-east of Kalgoorlie, Western Australia ('Eclipse' or the 'Project').
Highlights
· A final total of 4,589m of RC drilling was completed in this second phase, in 44 drillholes.
· Drilling has 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, and including one intercept of 24m @ 1.44 g/t Au from 46m downhole (containing 2m @ 2.86 g/t Au; and 3m @ 5.08 g/t Au).
· Other significant intercepts include:
o 8m @ 2.83 g/t Au from 118m downhole
o 3m @ 2.61 g/t Au from 134m
o 8m @ 2.32 g/t Au from 70m
o 6m @ 5.52 g/t Au from 33m
o 5m @ 4.77 g/t Au from 49m
Table 1 summarises drill intercepts above 1.3 g/t Au from the current phase of drilling.
· Interpretation of the results is underway, and a further work programme will be announced shortly which is likely to include preparation of a JORC compliant resource and initial pit optimisation studies.
Mike Struthers, Director, said: "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. 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 300m and 250m respectively. Additional intersections of potentially economic mineralisation within 80m 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. We look forward to confirming the work programme and other details of the Company's vision for the development of Eclipse in due course."
Table 1 - 2021 Drill Intercepts Above 1.3 g/t Au
Hole_id | Depth_From (m) | Depth_To (m) | Interval (m) | Au (g/t) |
ECRC21_002 | 91 | 94 | 3 | 2.45 |
ECRC21_003 | 118 | 126 | 8 | 2.83 |
ECRC21_004 | 134 | 137 | 3 | 2.61 |
ECRC21_005 | 138 | 146 | 8 | 1.86 |
ECRC21_006 | 93 | 97 | 4 | 1.44 |
ECRC21_007 | 144 | 147 | 3 | 2.38 |
ECRC21_008 | 99 | 100 | 1 | 1.86 |
ECRC21_010 | 50 | 54 | 4 | 1.36 |
ECRC21_017 | 70 | 78 | 8 | 2.32 |
ECRC21_020 | 46 | 70 | 24 | 1.44 |
ECRC21_020 | 82 | 85 | 3 | 2.51 |
ECRC21_024 | 38 | 39 | 1 | 2.1 |
ECRC21_024 | 45 | 48 | 3 | 2.07 |
ECRC21_027 | 33 | 39 | 6 | 5.52 |
ECRC21_029 | 33 | 37 | 4 | 2.8 |
ECRC21_030 | 49 | 54 | 5 | 4.77 |
ECRC21_032 | 55 | 56 | 1 | 1.46 |
ECRC21_033 | 49 | 54 | 5 | 1.42 |
ECRC21_034 | 75 | 78 | 3 | 2.4 |
ECRC21_036 | 20 | 24 | 4 | 2 |
Competent Person Statement
The information in this announcement that relates to drilling results is based on information reviewed by Mr. Mike Struthers, who is a Member of the Institute of Mining, Metallurgy and Materials (IOM3), a Chartered Engineer with the IOM3, and a Member of the Australian Institute of Mining and Metallurgy.
Mr. Struthers is an employee of Empire Metals Ltd. He has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, 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' and as a qualified person as defined in the Note for Mining and Oil & Gas Companies which form part of the AIM Rules for Companies. Mike Struthers has reviewed this announcement and consents to the inclusion in the announcement 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 |
Beth Melluish | 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. In addition to the known mineralisation at and surrounding the Eclipse old workings, recent geophysics and geochemistry work has highlighted further potential mineralisation at two additional targets north-west of Eclipse, the Houdini and Easy prospects.
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.