TIDMEEE
RNS Number : 3255S
Empire Metals Limited
16 March 2021
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/3255S_1-2021-3-15.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
16 March 2021
Empire Metals Limited ('Empire' or the 'Company')
Next Phase at Eclipse Gold Project
Empire Metals Limited, the AIM-quoted exploration and resource
development company, is pleased to provide a further update on the
next phase of works at the Company's Eclipse Gold Project, located
55km north-east of Kalgoorlie, Western Australia ('Eclipse' or the
'Project').
Work Programme
The next phase of work at Eclipse includes:
-- Additional structural interpretations to support updated vein wireframes and modelling.
-- Resource modelling and estimation.
-- Preliminary open pit "optimisations".
-- A further 1700m of reverse circulation ("RC") drilling in 17
holes, mainly focussed on infill drilling adjacent to wide
intersections of mineralisation and high-grade intercepts around
the Jack's Dream workings, north-west of the Eclipse shaft, to
further expand the mineralisation and potential resources.
-- An additional 200m of diamond drilling in three holes to
duplicate selected recent RC drillholes for resource estimation
purposes, to enable initial geotechnical core logging as input to a
preliminary pit design, and to provide samples for metallurgical
testing.
-- Metallurgical testwork.
Figure 1 is a plan view showing the extent of the vein systems
at Eclipse from drilling to date. Of particular note is the split
of the mineralised veins into multiple branches, north-west of the
Eclipse shaft. The wide mineralised intersections close to the
Jack's Dream workings are evident.
This next phase is expected to be completed in approximately two
to three months, however results for some elements will be made
available beforehand.
Mike Struthers, Director of Empire Metals, said: "The boom in
activity in the Western Australian minerals industry continues
meaning there is high demand for equipment, especially in the gold
sector, but we are delighted to have been fortunate to secure drill
rigs for the next phase of work. Field geologists are also in high
demand and we are very grateful to be working with an excellent
geological services company out of Kalgoorlie, BMGS, who have a
long association with the Eclipse property. This next phase for
Eclipse will generate an initial estimate of a pit-constrained
resource at the Eclipse shaft, which will give us our first
assessment of the scale and economics of a potential open pit
operation, together with further expansions of the mineralisation
around the old workings at Jack's Dream along strike from Eclipse.
This is the area where we recently had an intercept of 24m @ 1.44
g/t Au starting at 40m below surface. We hope this next phase of
work at Eclipse will allow the Company to map out the path to an
initial open pit operation, along with improved definition of
possible extensions to resources and the scope for additional
future open pits. We look forwards to providing more information in
due course."
Figure 1 - Plan View of Eclipse Shaft Area and Mineralised Veins
- See PDF
Competent Person Statement
The information in this announcement that relates to drilling
results is based on information reviewed by Mr. Mike Struthers, who
is a Member of the Institute of Mining, Metallurgy and Materials
(IOM3), a Chartered Engineer with the IOM3, and a Member of the
Australian Institute of Mining and Metallurgy.
Mr. Struthers is an employee of Empire Metals Ltd. He has
sufficient experience, relevant to the style of mineralisation and
type of deposit under consideration and to the activity which he is
undertaking, 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' and as a qualified
person as defined in the Note for Mining and Oil & Gas
Companies which form part of the AIM Rules for Companies. Mike
Struthers has reviewed this announcement and consents to the
inclusion in the announcement 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 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
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
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.
Empire owns 75% of Eclipse with a right to acquire a further
25%.
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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