TIDMEEE
RNS Number : 5300L
Empire Metals Limited
16 May 2022
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/5300L_1-2022-5-15.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
16 May 2022
Empire Metals Limited
('Empire' or the 'Company')
Exploration Update for the Eclipse Gold Project
Drilling Increases Strike Length with Five out of Six Drill
Holes Intercepting Mineralisation
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to announce the assay results of
the Diamond Drill ('DD') programme at the Eclipse Gold Project
('Eclipse'), in Western Australia. The DD programme, the second
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:
-- The recent drilling has confirmed that the gold
mineralisation associated with the NW-striking and steeply
SW-dipping shear zone ( 'Eclipse shear' ) extends over a strike
length of more than 500 metres, an increase in strike length of
over 300 metres from the previously reported extent of
mineralisation along the Eclipse shear.
-- Six DD holes for a total of 999m were completed, 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 between Eclipse and Jack's Dream and to
the north-west of Jack's Dream.
-- Five of the six DD holes intercepted mineralisation within
the Eclipse shear, with significant intercepts reported as
follows:
Ø 0.54m @ 2.61g/t Au from 138.72m downhole at ECDD22_002
Ø 0.61m @ 1.63g/t Au from 164.69m downhole at ECDD22_003
Ø 0.33m @ 4.28g/t Au from 165.3m downhole at ECDD22_003
Ø 0.41m @ 2.16g/t Au from 78.79m downhole at ECDD22_005
Ø 0.48m @ 1.64g/t Au from 81.09m downhole at ECDD22_005
Ø 0.5m @ 1.78g/t Au from 121.15m downhole at ECDD22_006
Ø 0.4m @ 1.25g/t Au from 122.98m downhole at ECDD22_006
-- It is noteworthy that ECDD22_003 and ECDD22_005 have proven
the continuity of gold mineralisation to the north-west of the
Eclipse shaft indicating the potential for Jack's Dream
mineralisation to link directly to the Eclipse lode. Furthermore,
ECDD22_006 has demonstrated that the mineralisation at Jack's Dream
is open to the north-west. Both areas had been previously
under-explored.
-- The significant intercept at depth in ECDD22_002, which was
drilled below the Eclipse shaft has demonstrated that the Eclipse
lode remains open at depth.
-- Importantly, the structural data obtained from all six DD
holes, which is currently under assessment, will provide important
geological and structural data which will allow Empire to update
and improve the geological model at Eclipse.
Shaun Bunn, Managing Director, said: "We are pleased to report
the success of this strategically important diamond drill
programme, which has intercepted significant mineralised zones in
areas previously under-explored. The geological and structural data
being gathered from the analysis of the diamond core will greatly
assist in the development of a robust geological model for Eclipse
and will allow us to focus our exploration on higher-grade targets
along the Eclipse shear.
"We now look forward to moving the focus of our drilling
campaigns to the high-grade lodes recently identified at Homeward
Bound and extensions to the Eclipse shear, north-west of Jack's
Dream."
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 historical Eclipse gold mine has
had multiple owners since its discovery in 1902. In the period from
April 1905 to November 1910, the Eclipse shaft was developed to a
depth of 258 feet and produced 954 tonnes @ 24.6 g/t Au for 754.25
oz Au (source: GSWA Mindex database).
The recently acquired high-grade 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%.
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 four exploratory drilling programmes,
consisting of 118 Reverse Circulation ('RC") drill holes for a
total of 10,081 metres and nine diamond drill holes for a total of
1,200 metres.
Results from Current Diamond Drilling Campaign
The gold mineralisation at Eclipse is hosted in sheared felsic
to intermediate volcanic and volcaniclastic sediments and
associated with pyrite, pyrrhotite and quartz veining. Analyses of
the structural data collected during the initial diamond drilling
campaign in 2021 confirmed the gold mineralisation to be associated
with shear foliation within the volcaniclastic sediments.
The current diamond drilling campaign, the second 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.
Six DD holes for a total of 999m were completed, 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 between Eclipse and Jack's Dream and to the north-west
of Jack's Dream.
Five of the six DD holes intercepted the mineralised shear, with
significant intercepts reported in Table 1 below.
Hole ID Depth Depth Interval Au Target
From (m) To (m) (g/t)
(m)
ECDD22_001 NSV Step out to SW - EOH (2)
(1) = 120.3m
---------- ------- --------- ------- -------------------------
Underneath Eclipse Shaft
ECDD22_002 135.06 140.32 5.26 0.95 EOH = 179.4m
---------- ------- --------- ------- -------------------------
incl 135.06 135.96 0.90 1.40
---------- ------- --------- ------- -------------------------
138.72 139.26 0.54 2.61
---------- ------- --------- ------- -------------------------
Continuity of Eclipse
mineralisation to NW
ECDD22_003 164.19 165.63 1.44 2.25 EOH = 185.4m
---------- ------- --------- ------- -------------------------
incl 164.69 165.3 0.61 1.63
---------- ------- --------- ------- -------------------------
165.30 165.63 0.33 4.28
---------- ------- --------- ------- -------------------------
Continuity to Eclipse
mineralisation to NW -
ECDD22_004 169.09 169.94 0.85 0.40 EOH = 189.3m
---------- ------- --------- ------- -------------------------
Step out to SW of Jack's
Dream
ECDD22_005 57.56 60.3 2.74 0.41 EOH = 180.3m
---------- ------- --------- ------- -------------------------
incl 57.56 58.24 0.68 1.10
---------- ------- --------- ------- -------------------------
77.2 85.86 8.66 0.47
---------- ------- --------- -------
incl 77.2 77.65 0.45 1.12
---------- ------- --------- -------
78.79 79.20 0.41 2.16
---------- ------- --------- -------
80.43 81.09 0.66 1.11
---------- ------- --------- -------
81.09 81.57 0.48 1.64
---------- ------- --------- ------- -------------------------
Step out to NW of Jack's
Dream
ECDD22_006 119.0 123.38 4.38 0.53 EOH =143.9m
---------- ------- --------- ------- -------------------------
incl 121.15 121.65 0.50 1.78
---------- ------- --------- ------- -------------------------
122.98 123.38 0.40 1.25
---------- ------- --------- ------- -------------------------
Table 1. Significant gold intercepts at a downhole cut-off grade
of >0.3g/t Au and >1g Au*m intervals. ( (1) NSV = no
significant values. (2) EOH = End of Hole Depth)
It is noteworthy that ECDD22_003 and ECDD22_005 have proven the
continuity of gold mineralisation to the north-west of the Eclipse
shaft indicating the potential for Jack's Dream mineralisation to
link directly to the Eclipse lode. Furthermore, ECDD22_006 has
demonstrated that the mineralisation at Jack's Dream is open to the
north-west. Both areas had been previously under-explored.
The significant intercept at depth in ECDD22_002, which was
drilled below the Eclipse shaft has demonstrated that the Eclipse
lode remains open at depth.
The next phase of the Empire's exploration programme will focus
on further RC drilling campaigns centred around the high-grade
lodes recently identified at Homeward Bound and extensions to the
Eclipse shear, north-west of Jack's Dream. The data collected from
this DD campaign will provide an important insight into the
geological and structural controls that affect the high-grade lodes
and will allow a more targeted approach to our future drill
campaigns.
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'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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END
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