Empire Metals Limited Second Phase Drilling Commences at Eclipse Project (9546K)
January 07 2021 - 7:30AM
UK Regulatory
TIDMEEE
RNS Number : 9546K
Empire Metals Limited
07 January 2021
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
7 January 2021
Empire Metals Limited ('Empire' or the 'Company')
Second Phase Drilling Commences at Eclipse Gold Project
Empire Metals Limited, the AIM-quoted exploration and resource
development company, is pleased to announce the commencement of the
second phase of reverse circulation ('RC') drilling and other field
studies at the Eclipse Gold Project, located 55km north-east of
Kalgoorlie, Western Australia ('Eclipse' or the 'Project').
Overview
-- Commencement of an approximate 4,000m drilling programme,
comprising over 40 holes, designed to infill the first phase
drilling as well as test extensions to the mineralisation at
Eclipse both along strike and at depth, including better definition
of the near-surface resource potential.
-- The drilling will also test known mineralised structures
parallel to the main Eclipse vein, which have historically yielded
attractive intersections (e.g. GD015 which intersected 2m @ 16.34
g/t Au from 66m downhole, in a structure that appears to be 20m
north-east of the Eclipse vein trend). The confirmation of
additional parallel mineralised veins could significantly enhance
the surface open pit potential.
-- Programme is expected to take four to six weeks to complete.
Mike Struthers, CEO, said: "We're very pleased to have started
the second phase of our drilling campaign at Eclipse following the
highly encouraging results received from our 2020 work programme,
which highlighted the potential for Eclipse to host a profitable
open pit gold mine.
"The Phase Two programme includes a combination of infill and
extension drilling, including testing of the mineralised structures
adjacent to the other old workings in the licence area, which we
know were located on different mineralised trends. We also have
evidence of this from drilling south-east of the Eclipse shaft, so
we are entering an exciting phase for Eclipse where we work to
understand the extent of the mineralised structures and the
potential for an initial open pit resource. I look forward to
providing updates on drilling results as they become
available."
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
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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