TIDMEEE
RNS Number : 6830N
Empire Metals Limited
06 June 2022
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6830N_1-2022-6-5.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
6 June 2022
Empire Metals Limited
('Empire' or the 'Company')
New Drilling Campaign to Target High-Grade at the
Eclipse-Gindalbie Gold Project
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to provide an update on its
exploration activities at the combined Eclipse-Gindalbie Gold
Project in Western Australia, and to report that the next campaign
of reverse circulation ("RC") drilling will commence there in
mid-June.
Highlights:
-- Fast tracking next RC campaign, which will consist of over
3,290m of drilling across some 26 drill holes, to target high grade
mineralisation at combined Eclipse-Gindalbie Gold Project
-- New RC programme follows successful structural mapping along
the Eclipse shear and initial success achieved at Homeward
Bound
-- Previous drilling confirmed that the gold mineralisation
associated with the Eclipse shear extends over a strike length of
more than 500 metres, an increase of over 300 metres from the
previously reported figure
-- Drill campaign will focus on the most prospective targets
within the Eclipse-Gindalbie Project area, including Homeward Bound
which has previously delivered very high-grade intercepts
including:
-- 5m @ 8.99 g/t Au from 31m downhole, including 1m at 40.90 g/t Au
-- 3m @ 8.96 g/t Au from 98m downhole, including 2m at 13.28 g/t Au
-- 3m @ 9.88 g/t Au from 46m downhole, including 1m at 26.20 g/t Au
Shaun Bunn, Managing Director, said: "We are pleased to announce
that drilling will shortly commence on what are the most
prospective targets identified to date within the combined
Eclipse-Gindalbie project area and we are very excited to be moving
back to the Homeward Bound prospect to further explore the area
where we previously achieved stellar gold intercepts.
"Importantly, the successful geological mapping of the Eclipse
shear, achieved through the diamond drill programme just recently
completed, has provided our exploration team with a greater
understanding of the strike and dip of the mineralised lode. We can
now step out our drilling targets with confidence and look to
extend the known footprint of gold mineralisation within the
combined Eclipse-Gindalbie project area, which we believe contains
a very significant high-grade gold system."
Eclipse-Gindalbie Gold Project Background
The Eclipse Gold Project is comprised of a single mining licence
(M27/153) covering 306ha . 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).
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.
The Gindalbie Gold Project consists of the "granted" area
contained within mining lease M27/158, which lies adjacent to
Eclipse. The "granted" area covers 643ha of highly prospective
ground containing historic gold mines located along a series of
northwest-southeast striking mineralised trends.
February-April 2022 Drilling Campaign
At Eclipse, six diamond drill holes for a total of 999m and s
even RC holes for a total of 960m 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.
This drilling campaign confirmed that the gold mineralisation
associated with the NW-striking and steeply SW-dipping shear zone (
'Eclipse shear' ) extends through the Jack's Dream area and is now
recognised 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.
Importantly, the mineralised shear remains open along strike to the
NW of Jack's Dream.
An RC drilling programme was also completed at Gindalbie with
the main objective of testing for high-grade gold lodes within the
transition and fresh rock, immediately below or adjacent to several
of the historic mine shafts (and the small pit at Bud's Find). This
programme consisted of 16 RC holes for 1,676m, targeting five
distinct mineralised areas, selected based on the location of
historical workings, soil geochemistry mapping and previous RAB/RC
drill results, being Homeward Bound, Laurel-Bulletin, South
Gippsland #3, Golden Puzzle and Bud's Find (refer Figure 2).
Of the 16 RC holes drilled, six returned significant intercepts
(refer Table 1.). The drilling at Homeward Bound produced very high
grades and/or good intercept widths within all four drill holes. In
addition, significant gold mineralisation was encountered at depth
below the small open pit at Bud's Find and a 3m wide mineralised
lode was identified at Laurel.
Figure 2. Plan view of the location of the initial drilling
targets and previously reported significant drilling
intercepts.
Subsequently, a single diamond hole was drilled at Homeward
Bound with the objective of determining the local rock type and
structural geology. A partially weathered zone containing quartz
veining was encountered, with a significant intercept of 1.21 g/t
Au over 1.75m from a depth of 67.5m downhole associated with a
distinct laminated quartz vein (refer Figure 3). Laminated quartz
veins are common in gold deposits through the Eastern Goldfields
(Kundana and Norseman being good examples), and often show good
continuity of high-grade gold within hosting shear zones but may
have "nuggety" or irregular gold distribution at the sampled
positions of the veins. From the initial inspection of the drill
core, it appears that the geological setting and style of gold
mineralisation at Homeward Bound is very different to that seen so
far along the Eclipse Shear and the various sub-parallel shear
zones. At Homeward Bound, the felsic volcanic host rock is highly
altered, and the gold appears to be associated with multiple quartz
veins including laminated-style shear veins. In cross section a
subvertical mineralised zone is defined by intersections in
GPRC22-008, GPRC22-009 and GPDD22-001. The high-grade intersection
in GPRC22-007 and other historic intersections further north-east
likely relate to a separate, possibly parallel structure.
Figure 3. Homeward Bound diamond drill core samples showing
mineralised laminated quartz vein and enhanced weathering around
the structure
Hole Number From Depth To Depth Interval (m) Grade (g/t) Target
GCRC22_003 89 91 2 0.64 Bud's Find
----------- --------- ------------- ------------ ---------------
GCRC22_005 27 30 3 1.15 Laurel
----------- --------- ------------- ------------ ---------------
GCRC22_007 31 36 5 8.99 Homeward Bound
----------- --------- ------------- ------------ ---------------
Incl 32 33 1 40.90
----------- --------- ------------- ------------ ---------------
GCRC22_008 43 45 2 3.00 Homeward Bound
----------- --------- ------------- ------------ ---------------
68 69 1 1.32
----------- --------- ------------- ------------ ---------------
GCRC22_009 62 64 2 0.79 Homeward Bound
----------- --------- ------------- ------------ ---------------
90 92 2 0.89
----------- --------- ------------- ------------ ---------------
98 101 3 8.96
----------- --------- ------------- ------------ ---------------
Incl 98 100 2 13.28
----------- --------- ------------- ------------ ---------------
GCRC22_010 46 49 3 9.88 Homeward Bound
----------- --------- ------------- ------------ ---------------
Incl 46 47 1 26.20
----------- --------- ------------- ------------ ---------------
GPDD22_001 67.5 69.25 1.75 1.21 Homeward Bound
----------- --------- ------------- ------------ ---------------
Table 1. Significant Intercepts from RC and Diamond drilling
with an Incremental cut-off grade >0.3g/t Au and >1g Au*m
intervals.
Figure 4. Cross-section view of the Homeward Bound drill
intercepts shows an apparent sub-vertical structure linking
intersections in GPRC22-008, GPDD22-001 and GPRC22-009, and a
separate zone of high-grade gold intersected in GPRC22-007
June-July 2022 Drilling Campaign
Several high priority targets have been defined at Gindalbie and
it is intended to follow up on these with a further, more targeted
drill campaign to extend high-grade shoots associated with multiple
structures around Homeward Bound, and to test for mineralisation
below Bud's Pit and around the historical workings at Bulletin.
The planned drill campaign will include:
-- 13 drillholes at Homeward Bound (total of 1,470m)
-- 6 drillholes at Bud's Find (total of 750m)
-- 4 drillholes at Eclipse (total of 700m)
-- 2 drillholes at Jack's Dream (total of 220m)
-- 1 drillhole at Bulletin (total of 150m)
At Eclipse, the drilling will focus on the extension of the
Eclipse lode at depth, beneath the old Eclipse mine shaft itself,
as well as pursuing an extension of the Eclipse shear northwest of
Jack's Dream.
Competent Person Statement
The technical information in this report that relates to the
Eclipse and Gindalbie Gold Projects 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
DRLGIGDLCBGDGDU
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June 06, 2022 02:01 ET (06:01 GMT)
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