TIDMEEE
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: 020 7907
9327
Ewan Leggat S. P. Angel Corporate Nomad & Broker Tel: 020 3470
Finance LLP 0470
Adam Cowl 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
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.
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END
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