TIDMEEE
RNS Number : 1107F
Empire Metals Limited
17 March 2022
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Empire Metals Limited / AIM: EEE / Sector: Natural Resources
17 March 2022
Empire Metals Limited
('Empire' or the 'Company')
Exploration Update for the Eclipse Gold Project
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to announce the results of the
Reverse Circulation ('RC') drilling programme at the Eclipse Gold
Project ('Eclipse') and the commencement of the follow-up Diamond
Drill ('DD') programme, which will continue over the next few
weeks.
The RC drilling programme, the fourth carried out by Empire at
Eclipse, was designed to gather further geological and structural
information on the mineralised shear and to test for lodes below
the gold-depleted zone of weathering.
Highlights:
-- Drilling to date has confirmed that gold mineralisation is
associated with a NW-striking and steeply SW-dipping shear zone (
'Eclipse shear' ) with significant gold mineralisation known to
extend over a strike length of more than 200 metres.
-- Seven RC holes for a total of 960m have been completed so
far, focused mainly on demonstrating that the gold mineralisation
persists at depth around the Eclipse shaft and Jack's Dream shaft,
and to test for continuity along strike to the south-east.
-- Several of the RC holes intercepted the Eclipse shear, with
significant intercepts reported as follows:
Ø 10m @ 1.12g/t Au from 107m downhole at ECRC22_005
Ø 3m @ 1.31g/t Au from 93m downhole at ECRC22_004
Ø 3m @ 1.30g/t Au from 98m downhole at ECRC22_004
Ø 1m @ 0.41g/t Au from 64m downhole at ECRC22_003
Ø 2m @ 0.33g/t Au from 86m downhole at ECRC22_001
-- The next phase of the campaign has commenced and consists of
6 DD holes for a total of 900m, which will provide important
geological and structural data and will allow Empire to update and
improve the geological model at Eclipse.
Shaun Bunn, Managing Director, said: "We are pleased to report
that the success of the initial RC drill programme, which has
intercepted mineralised zones in areas previously under-explored,
gives us confidence that the significant DD campaign that we have
now commenced will provide Empire with the geological and
structural data needed to transform the preliminary geological
model developed for Eclipse into a compliant Mineral Resource of
substance. We look forward to updating the market on the results of
the DD campaign as they become available."
The Eclipse Gold Project
The Eclipse Gold Project is comprised of a single mining licence
(M27/153). The licence is located approximately 55km NNE of
Kalgoorlie (refer Figure 1). The recently announced Gindalbie Gold
Project (the granted area contained within mining licence M27/158)
sits adjacent to the eastern border of the Eclipse licence area and
extends the current area for exploration by 200%. The nearest gold
processing plant is at Kanowna Belle, 35km to the south. The
licence is accessed by the Yarri Road. This road is sealed to the
turn off to Kanowna Belle. While it has not been gazetted, it is a
well-used road generally in good condition.
Figure 1. Location Map - Location of Eclipse Gold Project (red),
which contains the old Gindalbie townsite, and mining lease ML
27/158 (blue) which contains the Gindalbie Gold Project.
Since commencing its involvement at Eclipse in August 2020,
Empire has completed three exploratory drilling programmes,
consisting of 111 RC drill holes for a total of 9,121 metres and
three diamond drill holes for a total of 201 metres.
Late last year Empire completed a strategic technical review of
all the data collected over the Eclipse licence area, focusing on
understanding the structural controls on the high-grade gold lodes
identified by previous drilling. The gold mineralisation at Eclipse
is hosted in sheared felsic to intermediate volcanics and
volcaniclastic sediments, and associated with pyrite, pyrrhotite
and quartz veining. Analyses of the structural data collected
during the diamond drilling last year has confirmed the gold
mineralisation to be associated with shear foliation within the
volcaniclastic sediments.
Results from Current Drilling Campaign
The current drilling campaign, the fourth carried out by Empire
at Eclipse, has been designed to gather further geological and
structural information on the mineralised shear and to test for
lodes below the gold-depleted zone of weathering.
Seven RC holes for a total of 960m have been completed to date,
focused mainly on demonstrating that the gold mineralisation
persists at depth around the Eclipse shaft and Jack's Dream shaft,
and to test for continuity along strike to the south-east.
Several of the RC holes intercepted the mineralised shear, with
significant intercepts reported in Table 1 below.
Hole ID Depth Depth Interval Au (g/t) Target
From (m) To (m)
(m)
ECRC22_001 87 88 1 0.38 SE extension to Eclipse
---------- ------ --------- --------- ---------------------------
Continuity between Eclipse
ECRC22_003 64 65 1 0.41 to the SE
---------- ------ --------- --------- ---------------------------
Au mineralisation extends
ECRC22_004 93 94 1 0.43 into fresh rock
---------- ------ --------- --------- ---------------------------
ECRC22_004 94 95 1 3.01
---------- ------ --------- --------- ---------------------------
ECRC22_004 95 96 1 0.49
---------- ------ --------- ---------
ECRC22_004 98 99 1 0.92
---------- ------ --------- ---------
ECRC22_004 99 100 1 1.35
---------- ------ --------- ---------
ECRC22_004 100 101 1 1.62
---------- ------ --------- --------- ---------------------------
Au mineralisation extends
ECRC22_005 107 108 1 0.35 into fresh rock
---------- ------ --------- --------- ---------------------------
ECRC22_005 108 109 1 1.28
---------- ------ --------- --------- ---------------------------
ECRC22_005 109 110 1 1.38
---------- ------ --------- ---------
ECRC22_005 110 111 1 0.96
---------- ------ --------- ---------
ECRC22_005 111 112 1 0.42
---------- ------ --------- ---------
ECRC22_005 112 113 1 1.60
---------- ------ --------- ---------
ECRC22_005 114 115 1 0.40
---------- ------ --------- ---------
ECRC22_005 115 116 1 2.98
---------- ------ --------- ---------
ECRC22_005 116 117 1 1.61
---------- ------ --------- --------- ---------------------------
Table 1. Significant gold intercepts at downhole cut-off grade
of 0.3g/t Au.
Significant intercept widths have been identified in the
following drill holes:
Ø 3m @ 1.31g/t Au from 93m downhole at ECRC22_004 (refer Figure
2)
Ø 3m @ 1.30g/t Au from 98m downhole at ECRC22_004 (refer Figure
2)
Ø 10m @1.12g/t Au from 107m downhole at ECRC22_005 (refer Figure
3)
Figure 2. Cross-section showing main intercepts at
ECRC22_004
ECRC22_004: This hole confirmed continuity of mineralisation
from the regolith into the fresh rock, confirming extent of gold
mineralisation 35m below the regolith occurrence for an overall
depth of known mineralisation of at least 95m. Gold mineralisation
remains open at depth.
Figure 3. Cross-section showing main intercepts at
ECRC22_005
ECRC22_005: This hole confirmed continuity of mineralisation
from the regolith into the fresh rock, and increased depth of
mineralisation by 25m vertical depth from the historically drilled
ERC09, to 90m below surface. Gold mineralisation continues to
remain open at depth.
In addition, ECRC22_003 and ECRC22_001 which were drilled 50m
and 300m respectively south-east of the Eclipse shaft have
confirmed the continuation of the mineralised shear to the
south-east of the main Eclipse ore shoot.
The next phase of the campaign has commenced and consists of 6
DD holes for a total of 900m, which will provide important
geological and structural data and will allow Empire to update and
improve the geological model at Eclipse.
Competent Person Statement
The technical information in this report that relates to the
Eclipse Gold Project has been compiled by Ms Louisa Stokes, an
employee of Eclipse Exploration Pty Ltd, a wholly owned subsidiary
of Empire. Ms Stokes is a Member of the Australian Institute of
Mining and Metallurgy. Ms Stokes is employed in the role of
Exploration Geologist and has been planning the exploration
activities for the Eclipse-Gindalbie project areas. Ms Stokes has
sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity being undertaken 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'. Ms
Stokes consents to the inclusion in this release of the matters
based on her 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, 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 Tel: 020 3470 0470
LLP (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/
Selina Lovell
-------------------
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 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 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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