TIDMEEE
RNS Number : 3615W
Empire Metals Limited
18 August 2022
Empire Metals Limited / LON : EEE / Sector: Natural
Resources
18 August 2022
Empire Metals Limited
Airborne Magnetic Survey Identifies Significant Structure at
Pitfield Copper-Gold Project
Structure Closely Aligns with Previously Reported 7km Copper
Anomaly
Empire Metals Limited (LON: EEE), the AIM-quoted resource
exploration and development company, is pleased to announce the
results of the airborne magnetic survey carried out in June 2022 at
the Pitfield Copper-Gold Project ('Pitfield'), located in Western
Australia.
Highlights
-- Close spaced (50m line spacing) airborne magnetic and
radiometric survey completed over the previously reported magnetic
anomaly extending from near the western boundary and through much
of the 615 sq km Pitfield licence area.
-- A significant structure has been interpreted along the
western boundary of the magnetic anomaly that closely aligns with a
surface copper anomaly stretching over 7km, previously identified
by CRA (which became part of Rio Tinto Group) when conducting
surface sampling in the early 1990s.
-- Pitfield is located immediately adjacent to the historic
Baxters copper mine at Arrino which produced 106 tonnes of copper
('Cu') at a grade between 20-30% Cu which, along with numerous
other prospects, demonstrates high regional prospectivity for
copper
-- The highly magnetic anomaly seen from the airborne survey,
which extends for over 20km north-south along the western margin of
the licence, indicates potential for the presence of magnetite
which could be associated with a regional scale alteration
event.
-- Excellent resolution of stratigraphy and structure has been
achieved with the new survey which will greatly assist in
understanding the geological location of known copper anomalism,
and in targeting areas with the highest exploration potential
during our field activities.
Shaun Bunn, Managing Director, said: "This is a tremendous
result for Empire, and clear evidence of the mineralised potential
of this geologically significant asset. Our early success from the
airborne magnetic survey has confirmed that the historical
geochemical sampling closely aligns with a significant magnetic
anomaly.
"We are very much looking forward to receiving the detailed
analysis of our recently completed airborne electro-magnetic survey
in the next few weeks, which was designed to complement this
magnetic and radiometric survey work programme. These surveys,
combined with the historical geochemical mapping completed by CRA
and others, will allow our technical team to develop a
comprehensive geological map and database for the Pitfield project,
with the expectation that over time we can define several highly
prospective copper resource targets."
The Pitfield Copper-Gold Project
Location and Regional Geology
Pitfield is comprised of a granted Exploration Licence
(E70/5465) and an Exploration Licence Application (E70/5876)
covering a total of 615 sq km. Pitfield is located near Three
Springs, a town 313 kilometres north of Perth, Western Australia on
the Midlands Road, which until the opening of the Brand Highway in
1975 was the main road route from Perth to the state's north.
(refer Figure 1).
Figure 1.- Location Map - Showing Pitfield Tenements and Major
Access Roads.
Local Geology and Historical Mining Activities
Pitfield lies at a unique setting along the boundary of Western
Yilgarn province, where a major craton-scale structure internal to
Southwest Gneiss province intersects and offsets the Yilgarn margin
and controls the position of the Neoproterozoic Yandanooka basin,
the only example of this globally important copper prospective age
adjacent to the western Yilgarn craton.
Pitfield encompasses much of the highly prospective
Neoproterozoic Yandanooka Group sediments consisting of sandstone,
siltstone and polymictic conglomerate with andesite to trachyte
clasts. A rib of the Mesoproterozoic Mullingarra Gneiss is exposed
close to the western margin of the project area.
About 25% of the project area is exposed/weathered Proterozoic
rocks of the Yandanooka Group where the known copper prospects are
located. There is minor Permian cover and 70% of the area comprises
a shallow transported cover. Previous government geophysical
surveying showed a gravity-high anomaly which suggests higher
density mafic rocks at depth, which may provide a source for copper
within the project.
Major lithological contacts, either within basins or at the
basement contact (particularly transitions between oxidised and
reduced rocks) can focus copper deposition. Pitfield is located
along strike from the historic Baxters copper mine at Arrino which
produced 106 tonnes of copper at a grade between 20-30% Cu which,
along with numerous other prospects, demonstrates that the copper
mineralisation process has occurred in the Pitfield area.
Geochemical sampling by CRA and others has confirmed that a
previously identified magnetic anomaly associated with alteration
including magnetite/ hematite, epidote replacement and fractures
and carbonate-quartz veinlets is host to extensive copper
anomalism, extending south from Baxters and with greater than
150ppm Cu in soils identified over a strike length of 7km (refer
Figure 2.). The anomaly remains open to the south and east
including over 10km of this high-intensity magnetic feature within
the project which is yet to be explored. Limited exploration has
been undertaken within the project outside a 5km radius from the
Baxters mine.
CRA (1993) completed IP geophysics and auger sampling which
defined a significant Cu-in-auger anomaly (plus Ag) over some 7km
strike length open to the east and south and followed up with two
diamond holes, the southern hole on Pitfield recording copper
anomalism with a maximum value of 570ppm (from 4m chip samples of
drill core) associated with fracture-controlled malachite and minor
native copper. In addition, CRA surface sampling partially covered
the Pitfield project with soils and stream sediment sampling which
confirmed multiple areas of significant copper anomalism.
Figure 2. Local Geology showing tenements and location of
historic mining activities and 7km copper anomaly south of
Baxters.
Results of Airborne Magnetic Survey
The previous governmental regional magnetic surveys were flown
at 200m line-spacing and indicated strongly magnetic
stratigraphy/alteration within the project area. Empire's more
detailed survey, completed by Magspec Airborne Surveys Pty Ltd in
June, was flown on a 50m line spacing at a height of some 30m and
comprising some 3470 line km, giving an enhanced magnetic and
radiometric resolution over the main areas of interest (Figure
3.)
This has provided valuable structural, stratigraphic and
surficial cover details which, along with the airborne
electromagnetic survey results soon to be received plus the
compilation of the historical soil and rock chip sampling, will
greatly assist with prospect-scale target definition for
geochemical mapping and future drilling campaigns.
Figure 3. Pitfield Aeromagnetics - total magnetic intensity
image
Copper mineralisation has previously been mainly found within
the non-magnetic sandstone and siltstone units which lie along the
better exposed western margin of the Yandanooka sedimentary basin
and the basement Mulingarra Gneiss. The highly magnetic anomaly
seen from the airborne survey, which extends for over 20kms in a
north-south dimension, is likely highlighting the Beaconfield
conglomerate unit. Importantly, the Beaconfield conglomerate unit
contains mafic to intermediate volcanic clasts, which are highly
susceptible to the formation of the mineral magnetite during
regional scale alteration events. During such events major
lithological contacts, either within basins or at the basement
contact (particularly transitions between oxidised and reduced
rocks) can focus copper deposition. The western margin of the
magnetic feature coincides with the mapped outcrop position of
Beaconsfield conglomerate along a NNW-trendiong ridge, however the
geological setting of much of the remainder of the magnetic anomaly
is concealed under shallow cover and not yet fully understood.
The historic exploration by CRA, Kennecott, and Carpentaria
Exploration (MIM), who concentrated their work on this contact
south of the old Arrino (Baxters) workings, has comprised:
i. a few bedrock diamond drill holes focussed on the Baxters
mine area, plus very isolated stratigraphic holes; and
ii. shallow Air Trac and RAB drilling where single samples (at
variable depths down hole) where collected from the end of
hole.
This work is shown on Figure 4 below and defines a strongly
copper anomalous trend (>400ppm copper) along the interpreted
structural corridor on the western margin of the magnetic high
domain which extends for at least 7km and remains open to the
south. Little additional drilling has been completed elsewhere
within the project area.
Figure 4. Pitfield enhanced magnetic and gravity background in
relation to CRA historical RAB drilling.
CRA surface sampling comprising soils, auger and stream
sediments are shown on Figure 5, and reinforces that the strongly
copper anomalous trend seen in the shallow drilling does extend
further south, but also highlights significant copper anomalism in
other areas such as Mt Scratch. The main copper trend along the
western margin of the magnetic feature coincides with a
NNW-trending topographic ridge with residual soils and sporadic
outcrop. In the eastern part of the CRA soil sampling area
surficial cover encroaches and the soils response diminish
commensurately, but Empire considers the soils to be less
effective, and require an alternative exploration approach.
Figure 5. Pitfield enhanced magnetic and gravity background in
relation to CRA historical soil and stream sampling.
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.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
Empire Metals Ltd Tel: 020 7907 9327
Shaun Bunn / Greg Kuenzel
S. P. Angel Corporate Finance LLP Tel: 020 3470 0470
(Nomad & Broker)
Ewan Leggat / Adam Cowl
-------------------
Shard Capital Partners LLP (Joint Tel: 020 7186 9950
Broker)
Damon Heath
-------------------
St Brides Partners Ltd (Financial Tel: 020 7236 1177
PR)
Susie Geliher / Ana Ribeiro / Max
Bennett
-------------------
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's strategy is to develop a pipeline of projects at
different stages in the development curve. Its initial focus has
been on the high-grade Eclipse and Gindalbie Gold Projects in
Western Australia. The Company expanded its exploration licence
area in April 2022 from 9.5km2 to 1,728km2 with the acquisition of
the Pitfield Copper-Gold Project and the Walton Copper-Gold Project
in Western Australia, and the Stavely Copper-Gold Project in the
Stavely Arc region of Victoria.
Empire also holds a portfolio of three precious metals projects
located 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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