Source - LSE Regulatory
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 Finance LLP

Nomad & Broker

Tel: 020 3470 0470

Adam Cowl

S. P. Angel Corporate Finance LLP

Nomad & Broker

Tel: 020 3470 0470

Damon Heath

Shard Capital Partners LLP

Joint Broker

Tel: 020 7186 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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