TIDMEEE
RNS Number : 3491U
Empire Metals Limited
02 December 2021
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/3491U_1-2021-12-2.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
2 December 2021
Empire Metals Limited ('Empire' or the 'Company')
Phase 2 Drilling Commences at Central Menzies Gold Project
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to announce that the second phase
of Reverse Circulation ('RC') drilling has commenced 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:
-- 1,360m of RC drilling planned, focusing mainly on the
mineralised trend known as Nugget Patch which have been prioritised
from previous work.
-- The Phase 1 RC drill programme confirmed a consistent
NNW-trending zone of oxide gold mineralisation at Nugget Patch,
extending for 500m along the western flank of the prospect.
-- At the Teglio prospect, additional holes are aimed at
confirming historic high grade gold intersections closely
associated with the main workings, plus an additional traverse to
test under a strong gold-in-soil anomaly recently defined by Empire
some 300m northwest of the previous drilling.
Shaun Bunn, Managing Director, said: "The results from the
September drilling programme indicated the potential of a discovery
at the Central Menzies Project, with a significant gold anomaly
identified along a 500m strike length at Nugget Patch. The second
phase of drilling, which is now underway, will test this anomaly at
depth to determine if a higher-grade target persists beneath and
further to the southwest. This drilling, and some additional holes
to test the mineralised zone at Teglio, will allow us to complete
our evaluation of the Central Menzies Project in the period leading
up to the Option expiry date, due late February 2022. We look
forward to updating the market on the results once they become
available."
RC Drilling Programme
Follow-up RC drilling at Central Menzies has commenced, with a
focus on testing the 500m long Nugget Patch gold trend where a
coherent zone of supergene gold mineralisation was delineated close
to the base of strong weathering during the initial RC drilling
programme in September 2021.
Nugget Patch and Teglio are located some 2-3km southeast and
along strike from the >300,000oz Au high-grade Yunndaga deposit
and with a similar geological setting comprising moderately
SW-dipping shears on a sediment-mafic rock contact.
Empire's initial drilling at Nugget Patch did not adequately
test the targeted shear zone below the near surface, strongly
weathered zone. This programme is targeting a down-dip position at
or below the base of weathering to
test for high-grade primary gold mineralisation on 80m spaced sections.
At Teglio additional holes are aimed at confirming historic high
grade gold intersections closely associated with the main workings,
plus an additional traverse to test under a strong gold-in-soil
anomaly recently defined by Empire some 300m northwest of the
previous drilling.
A programme of 13 RC holes for a total of 1,360 metres is
planned, with nine RC holes to be drilled at Nugget Patch, for
1,080 metres, and a further four holes will be drilled at Teglio,
for 280 metres (refer Figure 1).
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.
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.
**ENDS**
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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