Next Phase at Eclipse Gold Project

RNS Number : 3255S

Empire Metals Limited

16 March 2021

 

To view the announcement with the illustrative images please use the following link:  http://www.rns-pdf.londonstockexchange.com/rns/3255S_1-2021-3-15.pdf

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

16 March 2021

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

Next Phase at Eclipse Gold Project

Empire Metals Limited, the AIM-quoted exploration and resource development company, is pleased to provide a further update on the next phase of works at the Company's Eclipse Gold Project, located 55km north-east of Kalgoorlie, Western Australia ('Eclipse' or the 'Project'). 

Work Programme

The next phase of work at Eclipse includes:

· Additional structural interpretations to support updated vein wireframes and modelling.

· Resource modelling and estimation.

· Preliminary open pit "optimisations".

· A further 1700m of reverse circulation ("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.

· An additional 200m of diamond drilling in three holes to duplicate selected recent 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.

· Metallurgical testwork.

Figure 1 is a plan view showing the extent of the vein systems at Eclipse from drilling to date. Of particular note is the split of the mineralised veins into multiple branches, north-west of the Eclipse shaft.  The wide mineralised intersections close to the Jack's Dream workings are evident.

This next phase is expected to be completed in approximately two to three months, however results for some elements will be made available beforehand.

Mike Struthers, Director of Empire Metals, said: "The boom in activity in the Western Australian minerals industry continues meaning there is high demand for equipment, especially in the gold sector, but we are delighted to have been fortunate to secure drill rigs for the next phase of work.  Field geologists are also in high demand and we are very grateful to be working with an excellent geological services company out of Kalgoorlie, BMGS, who have a long association with the Eclipse property. This next phase for Eclipse will generate an initial estimate of a pit-constrained resource at the Eclipse shaft, which will give us our first assessment of the scale and economics of a potential open pit operation, together with further expansions of the mineralisation around the old workings at Jack's Dream along strike from Eclipse. This is the area where we recently had an intercept of 24m @ 1.44 g/t Au starting at 40m below surface.  We hope this next phase of work at Eclipse 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. We look forwards to providing more information in due course."

Figure 1 - Plan View of Eclipse Shaft Area and Mineralised Veins - See PDF

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: [phone]
Ewan Leggat	S. P. Angel Corporate Finance LLP	Nomad & Broker	Tel: [phone]
Adam Cowl	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.  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.

 

END

 

 

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