Source - LSE Regulatory
RNS Number : 8329S
MetalNRG PLC
09 November 2023
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

9 November 2023

 

MetalNRG plc

(the "Company" or "MetalNRG")

Gold Ridge Soil Sampling Results

 

Gold Ridge results confirm the possibility of a large undiscovered gold/base metals system

 

MetalNRG plc (LON:MNRG), the natural resources and energy investment company, is pleased to announce that the results from the geologic soil sampling programme completed at its Gold Ridge property in Arizona, USA, have now been reviewed and analysed. The Company is pleased to confirm that the results support its previous belief that there is a real possibility of a larger un-discovered gold/base metal system at Gold Ridge.

 

The programme produced 1,042 samples, which covered 100% of the Company's Gold Ridge claims and 51 elements were analysed by the laboratory.

 

Highlights

 

·    Soil Geochemistry has provided evidence for multiple geologic events including: strong gold, copper, lead and zinc mineralisation related to the Mascot Stock

·    Strong gold, silver, arsenic, lead and zinc mineralisation related to the Apache Pass Shear Zone ("APSZ")

·    New gold, copper, lead and zinc anomalous trend parallel to the APSZ in the adjacent southern Precambrian block

·    Possible blind fault offset of the APSZ suggests historically mined gold mineralisation is off-set slightly northward where no exploration drilling has occurred

 

A presentation of the findings can be found on the Company's web site: www.metalnrg.com

 

Gold

 

The largest gold anomaly highlights the historic areas of exploration within the APSZ. The large gold anomaly may be displaced northward at the eastern end of mining. Secondary gold anomalies delineate a linear zone of gold mineralisation in the southern Precambrian ("PC") block. The southern PC area has had no modern trenching or drilling to date.

 

Silver

The silver anomalies highlight the APSZ and the western flank of the Mascot Stock. The large silver anomaly appears displaced northward at the eastern end of mining. Extensive new silver anomalies highlight the western extent of APSZ.

Copper

The largest copper anomaly highlights a radial zone about the Mascot Stock. A large, secondary copper anomaly is located west of the Dives Mine in an area with no historic prospecting.

Rolf Gerritsen, Executive Director of MetalNRG, commented: "We are delighted with these results which confirm that whilst there is follow up work to be carried out, there is a real gold and indeed wider opportunity at Gold Ridge. We look forward to providing further updates on this project in due course."

Christian Schaffalitzky, FIMMM, PGeo, CEng, a director of the Company, has reviewed the update and consents to the inclusion of the exploration information in the form and context in which it appears here. He is a Competent Person for the purposes of the reporting of these results.

For further information, please contact:

MetalNRG PLC:

Rolf Gerritsen

+44 (0) 207 796 9060

Chris Chadwick

+44 (0) 207 796 9060

Peterhouse Capital Limited - Joint Broker:

Lucy Williams

+ 44 (0) 207 469 0930

Duncan Vasey

+ 44 (0) 207 469 0930

S I Capital Limited - Joint Broker:

Nick Emerson

+44 (0) 1483 413500

IFC Advisory Limited - Financial PR and IR


Tim Metcalfe

+44 (0) 203 934 6630

Florence Chandler

+44 (0) 203 934 6630

 

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