TIDMEEE
RNS Number : 5493N
Empire Metals Limited
01 October 2021
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/5493N_1-2021-9-30.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
1 October 2021
Empire Metals Limited ('Empire' or the 'Company')
Soil Sampling Results for the Central Menzies Gold Project
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to announce the results of the
recently completed soil sampling programme at the Central Menzies
Gold Project in Western Australia ('Central Menzies' or the
'Project').
Highlights:
-- Encouraging results from soil sampling programme conducted on
the areas of the greatest prospectivity based on the location of
historical workings as well as areas of limited previous
drilling.
-- 2,379m of Reverse Circulation ("RC") drilling completed,
focusing on the most promising two of the previously identified
mineralised trends, respectively known as Teglio and Nugget Patch.
These targets were chosen based on elevated gold concentration
within the licence area and the potential to generate significant
strike and lateral extension from old workings.
-- The main gold anomalism identified from the soil sampling
programme coincides with the Teglio trend which has demonstrated a
total strike length of 1.8km as is open 800m to the north-west from
the recently drilled RC programme, and for another 300m to the
south-east
-- The results of the soil sampling programme have helped
identify several drilling targets which will be further evaluated
and prioritised once the results of the initial RC drilling
programme are returned.
Shaun Bunn, Managing Director, said: "The results from the soil
sampling programme have been most encouraging, validating the
decision to fast track an RC drilling campaign which targeted two
previously identified mineralised corridors, known as the Teglio
and Nugget Patch prospects. Not only do the soil sampling results
confirm the prospectivity of the areas initially chosen to drill,
they also indicate the potential to extend these targets along
strike, both to the north and south of the current drilling
footprint. In total, we have identified a mineralised corridor that
extends for over 1.8km along strike, which clearly warrants further
drilling.
"The soil sampling has also picked up anomalous gold-in-soil in
a number of areas where the regolith cover is shallower. These
areas add to the already impressive list of drill ready targets
within the licence area. With the initial RC drilling campaign now
completed we expect assay results to be available in October and,
based on these, a decision on when and where to drill next can be
made. I look forward to updating shareholders when drill results
become available."
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 (Figure 1). 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.
Geochemical Mapping
A soil programme comprising 688 sites was designed for Central
Menzies and site sampling was completed in July 2021. The sampling
sites were situated on each of the four licences, although largely
focused on P29/2361 and P29/2363. The sampling grid was 160m x 40m
and samples were collected from 10-30cm below surface using
standard industry practices.
The areas selected for sampling represented areas of the
greatest prospectivity based on the location of historical workings
as well as a low density of prior drilling (Figure 2). Essentially
the tenements, other than P29/2364 which has been the subject of
previous rotary air blast ("RAB") drilling campaigns, were devoid
of any previous surface geochemistry work. Hence the primary target
of this soil sampling programme was to delineate any gold anomalous
footprint around the old mine workings and locate new anomalous
trends indicative of potential primary lodes. As shown by the
high-resolution magnetic data (Figure 2), areas of outcrop and
residual soils are restricted to the NE sector, with the remainder
of the Project under variable transported cover conditions.
The resulting geochemical mapping is summarised in Figure 3 and
the key findings are:
-- The main Au (and As) anomalism coincides with the Teglio
trend and matches the recently completed Empire interpretation
based on existing workings, geology in outcrop and historical RC
holes, and gold in historic RAB/AC drilling.
-- The Teglio trend is open for some 800m to the north-west from
the last RC traverse, and for 300m to the southeast for a total
length of some 1.8km.
-- The Teglio trend may continue further to the south-east
however soil response is obscured by extensive transported soil
cover.
-- The strong anomaly identified immediately south of the
recently drilled area at Teglio is close to the top of a hill which
comprises indurated (hardened) gravel from a remnant (mostly
eroded) channel from an old land surface. This gold anomaly may be
coming from the old paleochannel.
-- There are indications of gold anomalism in the residual area
to the NE of Teglio, the best being in the northern tip of the
Project area.
-- The subdued gold response in sampling within the southern
half of the survey is not surprising given the extensive cover.
-- A broad low-level gold anomaly in the southeast of the
Project is considered to be of significance due to the presence of
cover and location along the potential extension of known gold
trends
RC Drilling Programme
A programme of 27 RC holes for a total of 2,379 metres was
recently completed targeting the two priority prospects initially
identified from the historical exploration dataset. 14 RC holes for
1,189 metres were drilled at Teglio, testing a strike length of 520
metres. A total of seven sections of drill holes span this length.
At Nugget Patch a further 13 holes were drilled for 1,190
metres.
Geological observations indicate that gold encountered on
previous drill sections at Teglio occurred within shearing, in
proximity to the contact between basalt and interflow sediments.
Most holes were completed in relatively fresh basalt. Quartz
veining was also observed in most instances where gold
mineralisation occurred.
This same contact was intersected on each of the recently
drilled sections at Teglio, which extended over some 500m in strike
length, although more often within weathered rocks.
The Nugget Patch prospect has been characterised by a broad low
grade (0.1 - 0.5 g/t Au) mineralised zone intercepted by RAB
drilling with the occasional moderate to high grade drill
intercept. The recent drilling has confirmed that the Nugget Patch
trend also coincided with the SW-dipping contact between mafic
rocks in the footwall and overlying sediments, apparently
sub-parallel to the Teglio trend. A felsic intrusion was
intersected on the southernmost section.
Future Work
Several exploration targets have been defined at Central Menzies
from a combination of the recent soil geochemical results, previous
RAB/AC drilling, and geological and structural information from
surface exposures and RC drilling. The targets are annotated T1 to
T6 on Figure 4, with the targets approximately in order of priority
with T1 being the highest. Planning of follow-up work will be
finalised once assays from the recent RC drilling have been
received and interpreted.
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.
**S**
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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