Drilling Update at Eclipse Gold Project

RNS Number : 4481E

Empire Metals Limited

06 November 2020

 

To view the announcement with the illustrative diagram please use the following link:

http://www.rns-pdf.londonstockexchange.com/rns/4481E_1-2020-11-5.pdf

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

6 November 2020

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

Drilling Update at Eclipse Gold Project

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

To date a total of 2,178 metres have been drilled of a total planned 44-hole, 2,600m programme.  Drilling to date has focused on the Eclipse target within the licence, specifically the area to the immediate north and south of the Eclipse shaft, which historically produced 954 tonnes @ 24.6 g/t Au for 754.25 oz Au.

Further significant results received include:

· Drillhole ECRC20_009: 3m @ 21.96 g/t gold ('Au') from 45m(including 1m @ 56.9 g/t Au) - this is 30m along strike of existing historical workings and represents a previously unidentified extension to the main high-grade lode

· Drillhole ECRC20_037: 8m @ 3.2 g/t Au from 133m(including 3m @ 4.45 g/t Au) - the deepest hole drilled to date and approximately 40m below the previously reported result of 11m at 3.04g/t (refer announcement 28 October 2020) indicating the mineralised structure remains open at depth and along strike

· Drillhole ECRC20_039 (refer announcement 28 October 2020) includes 4m @ 4.98 g/t Au

· Drillhole ECRC20_005: 8m @ 2.14 g/t Au from 42m

The results provide confirmation of extensions to previously defined mineralisation both along strike from the old workings, and at depth (refer Figure 1). Grade-thickness contours and other interpretations of the data will be updated as more information becomes available.

Downhole surveys are in progress, including optical televiewer surveys which provide a digital image of the drillhole walls that can be used in subsequent geological interpretations.  Drilling has also now commenced at the second target, Houdini, which is approximately 1.2km north-west of the Eclipse target.

Mike Struthers, CEO, said: "Confirmation that the Eclipse mineralisation remains open at depth and along strike is very encouraging, and the high-grade intersection in drillhole ECRC20_009 supports extensions to the high-grade vein exploited in the old workings.  The geological interpretation of the Eclipse mineralisation is still in its early stages, and the Company continues to interpret the data as it becomes available. I look forward to providing more updates 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: [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]

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.

 

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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