TIDMEEE
RNS Number : 1125R
Empire Metals Limited
03 November 2021
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/1125R_1-2021-11-2.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
3 November 2021
Empire Metals Limited ('Empire' or the 'Company')
Drill Results for the Central Menzies Gold Project
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to announce the results of the
recently completed Reverse Circulation ('RC') drilling programme at
the Central Menzies Gold Project in Western Australia ('Central
Menzies' or the 'Project'), over which Empire holds an option to
acquire a 75% interest.
Highlights:
-- 2,379m of RC drilling has been completed, focusing on the two
mineralised trends known as Teglio and Nugget Patch which have been
prioritised from previous work:
-- Nugget Patch:
-- A consistent NNW-trending zone of oxide gold mineralisation
was confirmed along the western flank of the prospect.
-- The gold anomaly extends for the full 500m strike length
tested in this programme and remains open to the north and
south.
-- Teglio
-- Northernmost step-out RC line intersected shallow gold
mineralisation coinciding with the southern end of a recently
defined and coherent gold-in-soil anomaly at "Teglio North" which
extends over some 800m strike length.
-- The southern line at Teglio also intersected significant gold
anomalism, and the recent soils show this trend may continue
further to the south before the Teglio trend goes under transported
cover.
Shaun Bunn, Managing Director, said: "The results from the
drilling programme have confirmed the prospectivity of the Central
Menzies Project, with a significant gold anomaly identified along a
500m strike length at Nugget Patch. Current thinking is that we
have encountered a supergene enrichment zone and that a
higher-grade target may persist beneath and further to the
southwest. This find certainly warrants additional drilling to
determine if a higher-grade mineralised lode follows this near
surface trend.
"The drilling along the northern and southern perimeters of the
Teglio trend also shows mineralisation and coincides with the
gold-in-soil enrichment zones identified from the recent soil
geochemical sampling programme. The lack of significant intercepts
in the near vicinity of the historical Teglio mine shaft requires
further geological evaluation to determine the nature of these
high-grade shoots and how and where they may extend along strike
and at depth."
RC Drilling Programme
A programme of 27 RC holes for a total of 2,379 metres was
recently completed targeting the two priority prospects initially
identified from the historical exploration dataset (refer Figure
1.). 14 RC holes for 1,189 metres were drilled at Teglio, testing a
strike length of 520 metres. A total of seven sections of drill
holes spans this length. At Nugget Patch a further 13 holes were
drilled for 1,190 metres. These targets were chosen based on
elevated gold concentration within the licence area and the
potential to generate significant strike and lateral extension from
old workings.
Assay results have now been received with significant intercepts
being summarised below in Table 1.
Hole Number From Depth To Depth Interval Grade (g/t) Target
(m)
----------- --------- --------- ------------ -------------
CMRC21-001 34 41 7 0.5 Teglio North
------------- ----------- --------- --------- ------------ -------------
CMRC21-002 46 49 3 0.36 Teglio North
------------- ----------- --------- --------- ------------ -------------
CMRC21-005 45 48 3 0.86 Teglio
------------- ----------- --------- --------- ------------ -------------
CMRC21-013 44 47 3 0.47 Teglio South
------------- ----------- --------- --------- ------------ -------------
CMRC21-015 48 49 1 4.44 Nugget Patch
------------- ----------- --------- --------- ------------ -------------
CMRC21-016 61 63 2 0.81 Nugget Patch
------------- ----------- --------- --------- ------------ -------------
CMRC21-020 7 10 3 0.53 Nugget Patch
------------- ----------- --------- --------- ------------ -------------
49 51 2 1.51 Nugget Patch
------------- ----------- --------- --------- ------------ -------------
CMRC21-023 50 52 2 1.18 Nugget Patch
------------- ----------- --------- --------- ------------ -------------
CMRC21-026 43 45 2 0.9 Nugget Patch
------------- ----------- --------- --------- ------------ -------------
Table 1. Significant Intercepts with an Incremental cut-off
grade >0.3g/t Au and >1g Au*m intervals.
Nugget Patch Trend
A consistent NNW-trending zone of oxide gold mineralisation was
confirmed along the western flank of the Nugget Patch prospect
(refer Figure 2). The gold anomaly extends for the full 500m strike
length tested in this programme and remains open to the north and
south. The drilling intersected mainly weathered sedimentary and
mafic rocks which form part of a SW-dipping sequence in the Central
Menzies project area.
A geological interpretation is yet to be completed; however,
mineralisation may be supergene enrichment at the base of leached
upper saprolite, with potential for an untested primary source
deeper and to the south-west of the current drilling. The wide 160m
drill section spacing leaves room for shorter strike length
high-grade shoots between the sections.
Teglio Trend
On the Teglio trend, weak results were returned in the vicinity
of the old workings where RC drilling was looking to expand the
shallow high-grade results in previous work along strike and at
depth (refer Figure 3). The northernmost step-out RC line
intersected shallow gold mineralisation in CMRC21-001 and
CMRC21-002, coinciding with the southern end of a recently defined
and coherent gold-in-soil anomaly at Teglio North which extends
over some 800m strike length. The southern line at Teglio also
intersected significant gold anomalism, and the recent soils show
this trend may continue further to the south before the Teglio
trend goes under transported cover.
Future Work
Several exploration targets have already been defined at Central
Menzies from a combination of the recent soil geochemical results,
previous RAB/AC drilling, and geological and structural information
from surface exposures and RC drilling. The targets are annotated
T1 to T6 on Figure 4, with the targets approximately in order of
priority with T1 being the highest. Based on the results of the
initial RC drill programme further drilling is warranted along the
western flank of the Nugget Patch trend and adjacent to the
historical Teglio mine shaft. Planning of the follow-up work has
commenced and further announcements regarding the details of this
programme and the timing will be made shortly.
Background on the Central Menzies Gold Project
In May 2021 Empire entered into an option agreement to acquire a
75% interest in the Central Menzies Gold Project, located in the
Menzies Shire, approximately 115km north of the city of
Kalgoorlie-Boulder and 10km south of the township of Menzies.
Central Menzies consists of four prospecting tenements (P26/2361,
2362, 2363 and 2364) covering a total area of 618 hectares.
The tenements are located within a north-north-west trending
greenstone belt, with basalts as the dominant hosts together with
interbedded shales and magnetite-rich banded iron formations
("BIF"), with mineralisation hosted within the Bardoc-Menzies Shear
Zone, or associated fault splays. Gold-bearing quartz veins occur
along the sheared contacts between basalts and sediments. A series
of structurally controlled high-grade gold deposits have been
historically mined in the region and display widespread exploration
potential for high-grade extensions.
Competent Person Statement
The technical information in this report that relates to the
Eclipse Gold Project has been compiled by Mr Andrew Bewsher, a
full-time employee of BM Geological Services. Mr Bewsher is a
Member of the Australian Institute of Geoscientists. Mr Bewsher has
been engaged as a consultant by Empire Metals Limited. Mr Bewsher
has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity being undertaken 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'. Mr
Bewsher consents to the inclusion in this release 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, as incorporated into UK law by the
European Union (Withdrawal) Act 2018, until the release of this
announcement.
**S**
For further information please visit www.empiremetals.co.uk or
contact:
Shaun Bunn Empire Metals Ltd Company Tel: 020 7907
9327
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
Selina Lovell St Brides Partners Ltd PR Tel: 020 7236
1177
About Empire Metals Limited
Empire Metals is an AIM-listed (LON: EEE) exploration and
resource development company with a project portfolio comprising
gold interests in Australia and Austria.
The Company strategy is to develop a pipeline of projects at
different stages in the development curve. Its current focus is on
the high-grade Eclipse Gold Project and the Central Menzies Gold
Project in Western Australia, with the goal to expand through the
addition of further projects in the region to develop a viable and
compelling portfolio of precious metals assets.
Empire also holds a portfolio of three precious metals projects
located in an historically high-grade gold production region
comprising the Rotgulden, Schonberg and Walchen prospects in
central-southern Austria.
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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