TIDMEEE
RNS Number : 4307M
Empire Metals Limited
12 January 2023
Empire Metals Limited / LON : EEE / Sector: Natural
Resources
12 January 2023
Empire Metals Limited
("Empire " or "the Company")
2023 Exploration Programmes Underway
at Pitfield and Eclipse-Gindalbie Projects
Empire Metals Limited (LON: EEE), the AIM-quoted resource
exploration and development company, is pleased to announce that
exploration field work is progressing well at the Pitfield Copper
Project ("Pitfield"), and that drilling has also recommenced at the
Eclipse-Gindalbie Project, both located in Western Australia.
Highlights
-- Field work at Pitfield has been focused on under-explored
areas of the project to generate new exploration data that will add
significantly to the Company's understanding of the size and nature
of this potential "Giant" copper province.
-- Pitfield has the potential to contain multiple
sediment-hosted stratabound copper ("SSC") deposits across a 40km
N-S magnetic anomaly (as announced on 21 September 2022).
-- Empire's exploration team has completed two field campaigns,
collecting soil and rock samples as well as surface mapping of
geological features.
-- Surface mapping has resulted in a number of rock samples
being collected which have confirmed copper enrichment along with
quartz and magnetite - all key elements of the SSC model.
-- A contract geophysical survey crew was mobilised in December
to Pitfield and completed five traverses of Dipole - Dipole Induced
Polarisation ("DD-IP") for a total of 8,450 Line metres.
-- The aim of the DD-IP survey is to resolve conceptual
sediment-hosted strata bound copper (SSC) mineralisation targets
supported by existing geological mapping and surface sampling
results.
-- Further soil sampling and DD-IP surveying is expected to
continue in Q1 2023 with a view to expediting a maiden drill
programme at Pitfield to evaluate the economic potential of SSC
targets defined by the current work.
-- At Eclipse-Gindalbie a small Reverse Circulation ("RC")
drilling campaign was carried out, commencing 3 January, targeting
a new area around the historical South Gippsland #3 mine, which to
date has been under-explored.
Shaun Bunn, Managing Director, said: "Great progress has been
made on our two main exploration camps at Pitfield and
Eclipse-Gindalbie over recent weeks as we set ourselves up for a
major exploration push during H1 2023. What is particularly
exciting is that we have found a way to speed up our field
activities at Pitfield, having been able to contract an IP
surveying team that could mobilise to site in mid-December, well
ahead of our previously announced exploration schedule.
"Our highly experienced exploration team has now completed two
field campaigns and is currently undertaking a third campaign which
completes this initial phase of geochemical mapping. Once the
geophysical data from the DD-IP survey is interpreted, and the soil
and rock sampling assays are received, we will be in an excellent
position to identify potential copper sulphide targets beneath the
surface soil anomalies for an initial drilling campaign at
Pitfield."
IP Survey Details
Induced Polarisation (IP) is a survey technique where electrodes
induce and measure a potential field in the ground. From this data,
the soil chargeability and apparent resistivity can be
measured.
Over selected areas, from 8 December 2022 to 17 December 2022,
Kinematex Pty Ltd ("Kinematex") carried out five traverses of
Dipole - Dipole IP ("DD-IP") for a total of 8,450 Line metres
(refer Table 1).
Name Length Min Min Max Max
Easting Northing Easting Northing
----------- --------- ------------ ------------- ------------ -------------
Line PM01 2000 367950 6753800 369950 6753800
Line PM02 1850 368100 6753000 369950 6753000
Line PM03 1700 368300 6752250 370000 6752350
Line PM04 1200 370600 6752000 371800 6752000
Line GC01 1700 370500 6739000 372200 6739000
----------- --------- ------------ ------------- ------------ -------------
Table 1.DD-IP Survey Lines completed (GDA2020 MGA Z50 )
The project area lies upon numerous freehold cropping and
grazing lots. The survey area is characterised by an undulating
topography, shallow soil profile with localised areas of sand
cover, mainly steeply-dipping clastic metasedimentary sequences,
local small porphyritic granite intrusions commensurate with a rift
basin setting.
Along with the survey data collected the survey team recorded
simple field observations as described by survey line below:
Line PM01 6753800mN
The line traversed displayed harvested canola crops, gullies,
and an undulating topography. Malachite and mudstone with copper
oxidation was noted at 368960mE (Sample PT001 & PT002). Small
blocks (50mm x 50mm) of clastic sedimentary rocks were evident in
the crop fields.
Figure 1. Line PM01
Line PM02 6753000mN
The line traversed Mt Scratch which displayed thick vegetation,
steep escarpments, breakaways, gullies and harvested wheat crops.
Topography presented rubbly ferruginous duricrust, coarse
conglomerate, volcanic rocks and steeply-dipping clastic
sedimentary rocks. A pegmatite sample (PT003) was collected at
369423mE.
Figure 2. Line PM02
Line PM03 6752250mN
The line was moved 100m South due to a parallel star picketed
fence straddling native vegetation along the line from approx.
369100mE to 369800mE. Perpendicular fence intersections are notable
at 368608mE & 369890mE. The line displayed thick vegetation, a
steep gully to the west with conglomerate boulders, and ferruginous
duricrust on the eastern and western end of the line. The remainder
of line was underlain by undulating topography and harvested wheat
crops. Small blocks of dark clastic sedimentary rocks are notable
in the wheat crops.
Figure 3. Line PM03
Line PM04 6752000mN
The line traversed a steep gully with conglomerate boulders to
the east with ferruginous duricrust, epidotised and potassic
granite at 370820mE. The western extents of the line were very
conductive.
Figure 4. LinePM04
Line GC01 6739000mN
The line traversed a small gully to the west and a small area of
native vegetation in the centre of the line. The remainder of the
line presents as moderately undulating harvested wheat crops with
small exposures of ferruginous duricrust, granite and clastic
sedimentary rocks. The eastern extent of the line was sandy and
very resistive.
Figure 5. Line GC01
Field Mapping, Soil and Rock Sampling
Extensive Cu, Ag, Ni and Zn anomalies have previously been
highlighted in historic surface sampling (as announced on 23
November 2022) . In the context of sedimentary rock sequences,
copper values >100ppm, nickel >50ppm and silver >0.5ppm
are considered highly anomalous and may indicate the presence of
significant SSC mineral systems. By multiplying the assays for all
four elements to produce an overall mineralised factor several
Cu-Ag-Ni-Zn anomalous zones, each stretching over several
kilometres, become clearer (Figure 6).
The current geological mapping and soil sampling programme aims
to both extend these mineralised zones even further, and define
substantial new areas of metal anomalism compatible with SSC
systems. The current work is targeted at unexplored portions of the
project with soil sample lines positioned in the northern, central
and southern areas of the licence.
Two field trips have been completed to date, with the third and
final field trip of the phase of the initial geological mapping and
soil sampling programme now underway. To date, over 550 soil
samples have been collected, along with a number of rock samples of
interest, including a malachite-bearing silicified breccia (copper
carbonate mineral), a magnetite-enriched sandstone, and several
samples with intense iron-oxide enrichment. These rock specimens
are particularly encouraging as they confirm the presence of copper
enrichment along with quartz and magnetite - all key elements of
the SSC model.
Figure 6. Surface sampling by CRA highlighting combined
Cu-Ag-Ni-Zn anomalism showing soil sampling lines.
RC Drilling Campaign at Eclipse-Gindalbie
The combined Eclipse-Gindalbie Gold Project consists of two
adjacent mining leases, located near the historic gold mining town
of Gindalbie, situated 55km north-east of Kalgoorlie. Empire holds
a 75% interest in the 306ha Eclipse mining lease (M27/153), which
contains the Eclipse and Jack's Dream historical gold mine
workings, and which have been to date the focus of the Company's
drilling campaigns. Since commencing its involvement at Eclipse in
August 2020, Empire has completed five exploratory drilling
programmes, consisting of 124 RC drill holes for a total of 11,001
metres and nine diamond drill holes for a total of 1,200
metres.
In February 2022 Empire entered into a Tribute Agreement that
gives Empire the exclusive right to explore, develop and mine
within a granted area on Maher Mining's 100% owned mining lease
M27/158, which sits adjacent to the eastern border of the Eclipse
licence area and extends the current area for exploration targets
by over 200% to a total of 943ha. The "granted" area covers 643ha
of highly prospective ground containing historic gold mines located
along a series of northwest-southeast striking mineralised trends.
The main trend containing the Company's Eclipse and Jack's Dream
deposits aligns with several of the old workings to the southeast
including the Golden Puzzle, Laurel and Bulletin mines. Other,
sub-parallel north-west - south-east striking trends have been
identified which include the Homeward Bound and South Gippsland #3
mines.
Following on from successful drilling campaigns in February 2022
and June 2022, targeting historical gold workings within the
Gindalbie licence area, the Company decided to carry out a small RC
campaign consisting of nine RC drill holes for 770m. This drilling
is focused around the historical South Gippsland #3 mine where
previous drilling by the Company found evidence of kaolin-rich
clays within the intensely leached upper part of the weathering
profile. Kaolin is an important source of alumina and hence the
Company decided to drill to test the extent and quality of this
material and to determine what association it may have with the
adjacent high grade South Gippsland #3 gold mine.
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 9.5km(2) to 1,728km(2) 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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January 12, 2023 02:00 ET (07:00 GMT)
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