Empire Metals Limited Update on Work Programme at Eclipse Gold Project (0261B)
October 05 2020 - 2:00AM
UK Regulatory
TIDMEEE
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: 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' 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.
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END
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