TIDMEEE
RNS Number : 8968U
Empire Metals Limited
03 August 2020
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
3 August 2020
Empire Metals Limited ('Empire' or the 'Company')
Munni Munni Drilling Results
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to provide an update on the
drilling programme recently completed by Artemis Resources Limited
('Artemis') at the Munni Munni Palladium Project in the West
Pilbara, Western Australia ('Munni Munni').
Highlights
-- 6.5m @ 1.68g/t 2PGE + 0.14g/t Au, (1.13g/t Pd, 0.55g/t Pt) from 41m, 18MMAD001;
-- 4m @ 2.44g/t 2PGE + 0.27g/t Au, (1.48g/t Pd, 0.96g/t Pt) from 34.5m, 18MMAD003;
-- 5m @ 2.35g/t 2PGE + 0.17g/t Au, (1.49g/t Pd 0.86g/t Pt) from 34.5m, 18MMAD005;
-- 6m @ 1.65g/t 2PGE + 0.17g/t Au, (0.97g/t Pd, 0.68g/t Pt) from 82m, 18MMAC008;
-- 7m @ 1.43g/t 2PGE + 0.11g/t Au, (0.91g/t Pd, 0.52g/t Pt) from 122m, 20MMRC007
-- 5m @ 1.68g/t 2PGE + 0.14g/t Au, (1.08g/t Pd 0.6g/t Pt) from 19m, 20MMRC005;
-- 5m @ 1.42g/t 2PGE + 0.11 g/t Au, (0.94g/t Pd, 0.48 g/t Pt) from 65.5m, 18MMAD007;
-- 5m @ 1.36g/t 2PGE + 0.09 g/t Au, (0.96g/t Pd 0.44g/t Pt) from 28m, 18MMAD006;
-- 5m @ 1.19g/t 2PGE + 0.16g/t Au, (0.74g/t Pd 0.45g/t Pt) from 70m, 20MMRC006
-- 6m @ 1.17g/t 2PGE + 0.13 g/t Au, (0.76 g/t Pd, 0.41 g/t Pt) from 144m, 20MMRC011
-- 4m @ 1.07g/t 2PGE + 0.04 g/t Au, (0.7 g/t Pd, 0.37g/t Pt) from 194m, 20MMRC012 to EOH.
The Munni Munni project is subject to a binding agreement
between Empire and Artemis to acquire a 58.6% interest in Munni
Munni Pty Ltd ('MMPL'), a subsidiary of Artemis and the beneficial
owner of a 70% interest in the Munni Munni Palladium Project. As
announced on Monday 20 July 2020, Artemis was served a writ of
summons on Friday 17 July 2020 issued by the Supreme Court of
Western Australia as filed by Platina Resources Limited ('Platina')
, the 30% joint venture partner to Artemis on the Munni Munni
Project. Platina claims that Artemis and its wholly owned
subsidiary, MMPL, have breached the Heads of Agreement entered into
by the parties relating to the Munni Munni Joint Venture as a
result of the Company entering into the agreement with Empire.
Artemis denies Platina's claim and have stated that they intend to
vigorously defend their position and wish to move forward with
Empire to develop the Munni Munni project.
Mike Struthers, CEO, said: "These drill results at Munni Munni
add confidence to the positioning of the main PGE reef from
historical work, confirm practical mining widths are present, and
generally support previous drilling results. They provide a good
platform for further work on the project in future. The proposed
transaction with Artemis is still in progress and we will provide
further updates in due course."
The following information is extracted from the announcement
released by Artemis on the ASX earlier today.
To view a version of the announcement with illustrative maps and
diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/8968U_1-2020-8-3.pdf
Figure 1: Munni Munni PGE Project area with tenement
boundaries.
Munni Munni PGE Project
The Munni Munni Reverse Circulation (RC) drilling programme of
12 drill holes for 1,928 metres has been completed, with drill
holes spread through the entire upper portion of the
mineralisation, to a maximum depth of 200 metres. Samples were
processed at ALS Global, Perth.
Drilling Results
This report also details the results of diamond drilling
completed by Artemis in May 2018, which have not been previously
announced. The 2018 drilling was specifically targeted to confirm
the precise position of the PGE horizon and did not provide any new
information. The RC drilling programme was designed to add further
confirmation of the PGE horizon position around the northern nose
of the >20km long Munni Munni mafic intrusive Complex.
Historical drilling had shown the zone presence virtually
encircling the entire intrusive complex and was utilised to prepare
a non-JORC 2012 compliant resource estimate. Several RC holes were
targeted at replicating the historical diamond drill intersections
and provide comparative results with results from the Artemis 2018
diamond drilling. Other zones targeted were to simply help define
the PGE horizon position. Holes 20MMRC009 & 010 were targeted
on shallow VTEM anomalies at the base of the overlying Fortescue
Group on the Munni Munni Complex.
As the PGE horizon is essentially a stratigraphic zone,
historical drilling has been widely spaced and very selectively
assayed. Artemis has undertaken a broad multi-element analytical
suite to better refine the subtle lithological variations.
In the diamond drill core from 2018 essentially only gabbros and
pyroxenites were recognised, likewise in the RC chips, only
gabbros, pyroxenites and sediments with various minor intrusive
dykes were noted, indicating the difficulty in accurately
identifying prospective rock types without expensive petrological
studies.
The multi-element data gave the opportunity to refine the mafic
lithologies based on Al2O3 and MgO contents given the Munni Munni
Complex is essentially unmetamorphosed: the litho-chemistry has
been shown to be consistent across 2 phases of drilling.
Figure 2: Munni Munni Lithochemical discrimination plot.
It is not possible to include the historical drill holes as only
255 analyses for Al2O3 and MgO are present in the database
representing >85km of drilling.
Figure 2 shows the allotted lithology fields based on the Al2O3
vs MgO contents from the 2018 diamond drilling and 2020 RC
drilling. Virtually all PGE's occur within the Websterite
lithology, with a lesser amount in the pyroxenite due the PGE
occurring adjacent to the contact between the 2 units. The fields
are based on data from an extensive whole rock database of
approximately 100,000 samples. The mafic intrusive Complex was
mapped by Hoatson from the BMR in 1986 as part of Bulletin 242, and
the PGE host was described as a porphyritic Websterite
lithology.
Figure 3: Munni Munni Cross Section of 481900mE, with position
of section shown on Figure 1.
Section 481900mE (Figure 3) shows drill holes 18MMAD005 and
20MMRC005 with a direct comparison of the PGE results and the
remarkable continuity and consistency of the litho-chemistry. As
would be expected, the RC drilling data shows slightly lower
absolute results for the PGE, but occurs in the same relative
'stratigraphic' position. Importantly, the very steep dip of the
horizon lends itself to potentially improved mineability. Specific
individual assay results are shown in Tables 1 and 3.
Figure 4: Munni Munni Cross Section of 482480mE, with position
of section shown on Figure 1.
On section 482480mE (Figure 4), diamond drillhole 18MMAD004 only
clipped the edge of the PGE horizon, which was interpreted to be
due to faulting, which is also confirmed by the litho-chemistry.
Drill hole MMD0032 intersected the PGE horizon approximately 30m to
the east of 20MMRC007; but shows the intersections occurring in
comparable positions with comparable grades and intersection
widths. It should be noted that the reported assay grades in
MMD0032 are derived from 1/4 NQ core over 0.25m sample lengths, so
the volume and mass of the RC sample (3kg/m) is perceived to be a
more representative sample. Specific assay results of the
intersections in MMD0032 and 20MMRC007 are shown in Table 1.
The litho-chemical data again shows the very consistent nature
of the mafic layering within the Complex but has also highlighted
faulting and related dip changes of the PGE Reef.
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 Nomad & Broker Tel: 020 3470
Finance LLP 0470
Soltan Tagiev S. P. Angel Corporate Nomad & Broker Tel: 020 3470
Finance LLP 0470
Damon Heath Shard Capital Partners Joint Broker Tel: 020 7186
LLP 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 Limited has 50% ownership of the Bolnisi Copper
and Gold Project in Georgia, situated on the prolific Tethyan Belt,
a well-known geological region and host to many high-grade
copper-gold deposits and producing mines. The Bolnisi concession
covers an area of over 860 sq km and has a 30-year mining licence
with 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 acquisition of Munni Munni is a result of the Company's
ongoing assessments of the potential for expanding the Company's
portfolio through the addition of new assets which have the ability
to add value in the short term.
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of this information may apply. For further information, please
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END
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