Drilling Commences at Eclipse Gold Project

RNS Number : 8452C

Empire Metals Limited

22 October 2020

 

To view the announcement with the illustrative maps and diagrams please use the following link: 

http://www.rns-pdf.londonstockexchange.com/rns/8452C_1-2020-10-21.pdf

Empire Metals Limited / AIM: EEE / Sector: Natural Resources

22 October 2020

Empire Metals Limited ('Empire' or the 'Company')

Drilling Commences at Eclipse Gold Project

Empire Metals Limited, the AIM-quoted resource exploration and development company, is pleased to announce the commencement of reverse circulation ('RC') drilling at the Eclipse Gold Project, located 55km north-east of Kalgoorlie, Western Australia ('Eclipse' or the 'Project'). 

Overview

· Commencement of 2,300m drill programme designed to:

o infill and develop a better understanding of the resources to the immediate north and south of the Eclipse shaft - previous drill results include 7m @ 13.07 g/t Au from 34 metres, 12m @ 5.13 g/t Au from 39 metres, 8m @ 3.11 g/t Au from 66 metres and 6m @ 3.92 g/t Au from 87 metres

o test potential extensions to the mineralisation at depth at Eclipse; and

o test the mineralisation target at the Houdini project, 1.2km north-west of Eclipse (Figure 1).

· Samples will be regularly shipped to an assay laboratory in Kalgoorlie

· Subject to drilling results (and a decision by Empire to exercise the option to acquire a 75% interest in Eclipse, further details of which are set out in the Company's announcement of 12 August 2020) a subsequent phase of drilling will be designed to further infill the resources around the Eclipse shaft, which historically produced 954 tonnes @ 24.6 g/t Au for 754.25 oz Au, to develop a resource and a potential open pit target.

Mike Struthers, CEO, said: "After a slight delay to our drill programme we're pleased to get this key element of the field programme at Eclipse moving. It will be very interesting to confirm the continuity of the mineralisation at Eclipse, especially in the thicker vein areas, and also to test the same vein structures at depth below the old workings.  Based on our interpretation of the aeromagnetics, the Houdini target has a very similar geological setting to Eclipse so we hope to have some interesting intersections there also. These are exciting times for the Company and I look forwards to providing more information to our shareholders in due course."

Image 1: RC Drill Rig at Eclipse Project - see PDF

Figure 1 - Aeromagnetic Survey,Controlling NE-SW Faults, and the Locations of Eclipse and Houdini - see PDF

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: [phone]
Ewan Leggat	S. P. Angel Corporate Finance LLP	Nomad & Broker	Tel: [phone]
Soltan Tagiev	S. P. Angel Corporate Finance LLP	Nomad & Broker	Tel: [phone]
Damon Heath	Shard Capital Partners LLP	Joint Broker	Tel: [phone]
Susie Geliher	St Brides Partners Ltd	PR	Tel: [phone]
Beth Melluish	St Brides Partners Ltd	PR	Tel: [phone]

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.

 

END

 

 

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