Empire Metals Limited Drilling Commences at Eclipse Gold Project (8452C)
October 22 2020 - 2:00AM
UK Regulatory
TIDMEEE
RNS Number : 8452C
Empire Metals Limited
22 October 2020
To view the announcement with the illustrative maps and diagrams
please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/8452C_1-2020-10-21.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
22 October 2020
Empire Metals Limited ('Empire' or the 'Company')
Drilling Commences at Eclipse Gold Project
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to announce the commencement of
reverse circulation ('RC') drilling at the Eclipse Gold Project,
located 55km north-east of Kalgoorlie, Western Australia ('Eclipse'
or the 'Project').
Overview
-- Commencement of 2,300m drill programme designed to:
o infill and develop a better understanding of the resources to
the immediate north and south of the Eclipse shaft - previous drill
results include 7m @ 13.07 g/t Au from 34 metres, 12m @ 5.13 g/t Au
from 39 metres, 8m @ 3.11 g/t Au from 66 metres and 6m @ 3.92 g/t
Au from 87 metres
o test potential extensions to the mineralisation at depth at
Eclipse; and
o test the mineralisation target at the Houdini project, 1.2km
north-west of Eclipse (Figure 1).
-- Samples will be regularly shipped to an assay laboratory in Kalgoorlie
-- Subject to drilling results (and a decision by Empire to
exercise the option to acquire a 75% interest in Eclipse, further
details of which are set out in the Company's announcement of 12
August 2020) a subsequent phase of drilling will be designed to
further infill the resources around the Eclipse shaft, which
historically produced 954 tonnes @ 24.6 g/t Au for 754.25 oz Au, to
develop a resource and a potential open pit target.
Mike Struthers, CEO, said: "After a slight delay to our drill
programme we're pleased to get this key element of the field
programme at Eclipse moving. It will be very interesting to confirm
the continuity of the mineralisation at Eclipse, especially in the
thicker vein areas, and also to test the same vein structures at
depth below the old workings. Based on our interpretation of the
aeromagnetics, the Houdini target has a very similar geological
setting to Eclipse so we hope to have some interesting
intersections there also. These are exciting times for the Company
and I look forwards to providing more information to our
shareholders in due course."
Image 1: RC Drill Rig at Eclipse Project - see PDF
Figure 1 - Aeromagnetic Survey,Controlling NE-SW Faults, and the
Locations of Eclipse and Houdini - see PDF
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
Soltan Tagiev 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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