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17 Mar 2021 13:35
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
17 March 2021
Empire Metals Limited ('Empire' or the 'Company')
Next Phase to Commence at Eclipse Gold Project
Empire Metals Limited, 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 16 March 2021, is fully funded and will commence very soon.
Re-Start of Drilling
The reverse circulation ("RC") drilling component of the next phase of work at Eclipse is expected to commence next week followed by the diamond drilling in early April. The latter will generate sample for further studies, including geotechnical logging and metallurgical testing. Everything outlined in this phase of work, including the RC drilling, resource modelling and pit optimisations, diamond drilling and metallurgical testwork, is fully funded.
Mike Struthers, Director of Empire Metals, said: "We are very pleased to be able to start to execute this next phase of fully funded work at Eclipse within the next few days. As noted in our recent press release, we believe this phase will allow the Company to map out the path to an initial open pit operation, along with improved definition of possible extensions to resources and the scope for additional future open pits and we look forwards to providing more information on progress in due course."
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. 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.
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