Empire Metals Limited Further Drilling Results at Eclipse Gold Project (4956P)
February 18 2021 - 2:00AM
UK Regulatory
TIDMEEE
RNS Number : 4956P
Empire Metals Limited
18 February 2021
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
18 February 2021
Empire Metals Limited ('Empire' or the 'Company')
Further Drilling Results at Eclipse Gold Project
Empire Metals Limited, the AIM-quoted exploration and resource
development company, is pleased to announce further assay results
from the second phase of reverse circulation ('RC') drilling at the
Eclipse Gold Project, located 55km north-east of Kalgoorlie,
Western Australia ('Eclipse' or the 'Project').
Highlights
-- A final total of 4,589m of RC drilling was completed in this second phase, in 44 drillholes.
-- Drilling has confirmed the existence of a number of parallel
veins in addition to the main Eclipse vein, including a different
stockwork style of near-surface mineralisation in the vicinity of
the Jack's Dream old workings, and including one intercept of 24m @
1.44 g/t Au from 46m downhole (containing 2m @ 2.86 g/t Au; and 3m
@ 5.08 g/t Au).
-- Other significant intercepts include:
o 8m @ 2.83 g/t Au from 118m downhole
o 3m @ 2.61 g/t Au from 134m
o 8m @ 2.32 g/t Au from 70m
o 6m @ 5.52 g/t Au from 33m
o 5m @ 4.77 g/t Au from 49m
Table 1 summarises drill intercepts above 1.3 g/t Au from the
current phase of drilling.
-- Interpretation of the results is underway, and a further work
programme will be announced shortly which is likely to include
preparation of a JORC compliant resource and initial pit
optimisation studies.
Mike Struthers, Director, said: "We have consistently received
encouraging results from drilling at Eclipse and this latest suite
of results are particularly important as they confirm our belief
that there are multiple parallel vein systems present. It is also
especially interesting to have identified what appears to be a
stockwork style of mineralisation around and beyond the Jack's
Dream workings, extending the potential strike length and width of
the multiple vein systems at Eclipse by over 300m and 250m
respectively. Additional intersections of potentially economic
mineralisation within 80m of surface further strengthens the
Company's view that there is clear potential for a profitable open
pit operation at Eclipse, and the next phase of work will likely
include preparation of a JORC compliant resource estimate and pit
optimisation studies. We look forward to confirming the work
programme and other details of the Company's vision for the
development of Eclipse in due course."
Table 1 - 2021 Drill Intercepts Above 1.3 g/t Au
Hole_id Depth_From Depth_To Interval Au
(m) (m) (m) (g/t)
ECRC21_002 91 94 3 2.45
----------- --------- --------- -------
ECRC21_003 118 126 8 2.83
----------- --------- --------- -------
ECRC21_004 134 137 3 2.61
----------- --------- --------- -------
ECRC21_005 138 146 8 1.86
----------- --------- --------- -------
ECRC21_006 93 97 4 1.44
----------- --------- --------- -------
ECRC21_007 144 147 3 2.38
----------- --------- --------- -------
ECRC21_008 99 100 1 1.86
----------- --------- --------- -------
ECRC21_010 50 54 4 1.36
----------- --------- --------- -------
ECRC21_017 70 78 8 2.32
----------- --------- --------- -------
ECRC21_020 46 70 24 1.44
----------- --------- --------- -------
ECRC21_020 82 85 3 2.51
----------- --------- --------- -------
ECRC21_024 38 39 1 2.1
----------- --------- --------- -------
ECRC21_024 45 48 3 2.07
----------- --------- --------- -------
ECRC21_027 33 39 6 5.52
----------- --------- --------- -------
ECRC21_029 33 37 4 2.8
----------- --------- --------- -------
ECRC21_030 49 54 5 4.77
----------- --------- --------- -------
ECRC21_032 55 56 1 1.46
----------- --------- --------- -------
ECRC21_033 49 54 5 1.42
----------- --------- --------- -------
ECRC21_034 75 78 3 2.4
----------- --------- --------- -------
ECRC21_036 20 24 4 2
----------- --------- --------- -------
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.
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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