Update on Work Programme at Eclipse Gold Project

RNS Number : 0261B

Empire Metals Limited

05 October 2020

 

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

5 October 2020

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

Update on Work Programme at Eclipse Gold Project

Empire Metals Limited, the AIM-quoted resource exploration and development company, is pleased to announce the results of a recent soils geochemistry programme at the Eclipse Gold Project, located 55km north-east of Kalgoorlie, Western Australia ('Eclipse' or the 'Project'), which has identified two new centres of gold-in-soil anomalies within the project area.

The Company also notes it has been advised by the project management company overseeing the ongoing work programme that commencement of drilling at Eclipse has been delayed due to a combination of extremely high levels of activity in the Kalgoorlie gold fields, and travel restrictions currently in place between states in Australia as a result of COVID-19.  Much of the workforce in the Western Australian gold industry relies on labour from other regions in the country.  The Company has been advised that the drill rig is on standby and work should commence shortly.

Mike Struthers, CEO, said: "It is reassuring to receive the results of the initial soils surveys which confirms the current drill targets at Eclipse and Houdini, but which has also identified two new targets.  It is likely we will follow these new sites up with more detailed soils grids before committing to drilling. Regarding our drill programme, it's frustrating to be experiencing these delays at this early stage but we are fortunate to have secured a drill rig during what is a mini-boom period for exploration in Western Australia, and we look forward to providing an update on the drilling shortly."

Soils Geochemistry Results

· Two new centres of gold-in-soils anomalies identified

· One lies 1.5km north of Eclipse, with dimensions 200m x 75m, and aligns with a distinct magnetic offset

· The second represents a small high-grade body at the western edge of the licence, with visible quartz breccia in a sandstone.

The Company, together with its consultants in Australia, is considering a tighter-spaced soils grid and detailed mapping at these locations prior to committing to drilling of these new targets.

To view a version of the announcement with illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/0261B_1-2020-10-4.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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