TIDMEEE
RNS Number : 9179O
Empire Metals Limited
06 February 2023
Empire Metals Limited / LON : EEE / Sector: Natural
Resources
06 February 2023
Empire Metals Limited
("Empire " or "the Company")
Geophysical Survey Results Confirm Pitfield's Potential as a
Giant Copper Province
Empire Metals Limited (LON: EEE), the AIM-quoted resource
exploration and development company, is pleased to announce the
results of the Dipole - Dipole Induced Polarisation ("DD-IP")
surveys carried out at the Pitfield Copper Project ("Pitfield"),
located in Western Australia.
Highlights
-- DD-IP surveys have identified multiple drilling targets and
provided further evidence to support the view that Pitfield has the
potential to contain multiple sediment-hosted stratabound copper
("SSC") deposits across a 40km long, massive alteration
footprint.
o identification of several anomalies with chargeable values
that exceed the threshold that would be considered characteristic
of the presence of disseminated sulphides.
o these chargeable and highly resistive anomalies are closely
associated with the magnetite-altered stratigraphy and are
coincident with strong copper anomalism in both soils and
rocks.
o located in the same vicinity as the high-grade soil and rock
samples that were recently collected (announced 30 January 2023)
these chargeable anomalies add further evidence to support the
possible presence of SCC deposits.
o the highly chargeable anomaly detected in three DD-IP survey
lines just southwest of Mt Scratch appears to be very extensive,
covering an area of at least 1,500m in length and up to 800m
wide.
o A second highly chargeable anomaly was identified in a DD-IP
line 12km south of and broadly along the same geological trend as
Mt Scratch.
-- Completion of the initial soil sampling and DD-IP surveying
is expected in Q1 2023 with a view to expediting a maiden drill
programme at Pitfield to better understand the geology and to
determine the significance of these highly chargeable-highly
resistive zones.
Shaun Bunn, Managing Director, said: "I am delighted to provide
an update on our initial DD-IP survey activities, a reconnaissance
mission focussing on areas that were previously under-explored by
the major mining companies that have worked the area. These highly
encouraging results from the DD-IP surveys suggest the presence of
large, disseminated sulphide mineralised zones, thus providing
multiple drill targets and providing another leap forward in our
plans to commence drilling activities at Pitfield.
"Our immediate focus will be on drilling at the Mt Scratch
Prospect, where we have identified a massive highly chargeable
anomaly. It is important to note that the Mt Scratch Prospect on
its own only represents 5% of the overall project area. The
coincidence of multiple highly chargeable anomalies, extensive
magnetite alteration and elevated copper in soils and rocks,
extending over much of the 40km long N-S massive alteration zone,
supports our view that Pitfield has the geological hallmarks of a
"Giant" copper mineralised system and we intend to continue our
soil sampling and DD-IP surveying activities over the coming months
to identify additional drill targets."
DD-IP Survey Results
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 (for more details on IP and DD-IP refer to the section
"Dipole-Dipole Array Explained").
Five traverses of DD-IP for a total of 8,450 Line metres (refer
Table 1 and Figure 1) were completed by contractor Kinematix Pty
Ltd from 8-17 December 2022 over selected exploration targets
considered geologically favourable for SSC systems.
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 )
Figure 1. Location of the five DD-IP Survey Traverses.
One of these key exploration targets was the Mt Scratch Prospect
where Lines PM01, PM02 and PM03 were completed on 800m spaced
sections to evaluate known copper anomalism and strong magnetite
alteration of host sandstone and siltstone rock sequences (Figure
2).
Recent soils results in this area also show an association of
elevated copper values with the magnetite-altered stratigraphy, and
rock samples from surface float (originally shallow prospector
workings which have subsequently been backfilled) recorded copper
values up to 17.9% Cu and 125 g/t Ag, a very encouraging indicator
that copper-silver sulphides are present in the area.
Figure 2. High copper-in-soil and rock samples collected surface
in close proximity to DD-IP traverses.
The data quality was considered to be very good for most of the
DD-IP lines at Pitfield, with the exception of PM04 where
conductive overburden caused low signal levels. The chargeability
highs seen in the dataset are predominantly associated closely with
zones of higher resistivity which could be explained by the effects
of hydrothermal alteration such as silicification.
The IP Inversion models were processed by Terra Resources Pty
Ltd ("Terra"). Terra specialises in geophysical survey design,
acquisition, processing, modelling, inversion, data integration,
interpretation and drill hole targeting. Terra uses the Newmont
standard chargeability for processing of time-domain IP data. The
chargeability is integrated over a window of 450 - 1,100 ms. This
is done to reduce the effects of EM coupling, and to provide a
consistent gauge of chargeability vs sulphide content.
The IP Inversion models for DD-IP traverses PM01-03 and GC01 are
presented below. The IP Inversion models have been coloured to
highlight in red areas where the chargeability exceeds 15mV/V,
which is indicative of permissive sulphide zones.
Figure 3 PM01 (L6753800N) - Sulphide Cutoff (15 mV/V) Colouring
Figure 4 PM02 (L6753000N) - Sulphide Cutoff (15 mV/V) Colouring
Figure 5 PM03 (L6752250N) - Sulphide Cutoff (15 mV/V) Colouring
Terra Resources description of each traverse is summarised
below:
PM01 : highly chargeable zone extends across entire 800m width
of magnetic stratigraphic units The high-grade copper in rock chips
returned from surface float is located on the eastern edge of the
IP chargeability feature in Figure 3 which also closely matches the
highest chargeability values. A second smaller IP anomaly is
located close to a magnetic feature at the eastern end of the
line.
PM02 : the 800m wide chargeable zone matches PM01, with the zone
shifting to the East with the strike of the magnetic stratigraphy,
and highest chargeability values also close to the eastern side of
the IP high feature (Figure 4)
PM03 : highly chargeable zones developed at edges of the most
magnetic unit with large East-West trending fault interpreted from
the magnetic data directly to the South (Figure 5).
GC01: chargeable zone coincides with a subtle discrete magnetic
feature with NNW strike. (Figure 6).
Figure 6. GC01 (L6739000N) - Sulphide Cutoff (15mV/V) Colouring
Figure 7: Magnetic Inversion Comparison to Chargeable Zones Plan
Figure 7 shows regions of high chargeability (pink > 15 mV/V)
from IP survey (yellow) over magnetics in plan view. The magnetics
are linearly colour stretched on different colour scales to
emphasise structural features.
In the images presented below chargeability inversion sections
are compared with 3D magnetic inversions in order to demonstrate a
strong correlation in the two independent datasets between
magnetite alteration and possible presence of sulphides (Figures 8
and 9.).
Figure 8: Magnetic Inversion Comparison to Chargeability Sections 3D View - PM01- 04
These images show the spatial comparison between 3D magnetic
inversion volumes (pink) and 2D IP inversion sections. The IP
sections have been colour-scaled to show sulphide-permissive zones
(>15mV/V - Newmont standard chargeability) in red. The section
spacing of the IP sections PM01-PM03 is approximately 800m,
demonstrating potential continuity of the IP feature for at least
1,500m.
The large high magnetic susceptibility body in the western part
of the area, shows a strong spatial association with high
chargeability, most intensely developed in line PM02. Geological
mapping shows stratigraphy is dipping moderately to steeply east,
so magnetic (modelled to moderate depths of several hundred metres)
and IP features (modelled to maximum of 200m depth) would be
expected to extend to depth in this orientation, as would any
associated SSC mineralisation.
There is a subordinate, thinner high magnetic/IP zone in the
eastern side of PM01-03.
PM04 does not show this same magnetic/IP correlation with only
weak IP and magnetic anomalism present, possibly due to the highly
conductive surface layer and commensurate weak basement IP
signal.
In the case of GC01 (Figure 9) geological mapping confirmed that
the strongly magnetic feature located in the centre of the section
is associated with a structural repetition of the Beaconsfield
conglomerate, part of the lower red-bed sequence. The location of
the IP feature on the eastern end of the line is highly significant
in terms of the SSC model - potentially close to the expected
position of the first reduced layer within the overlying Mt Scratch
sequence.
Figure 9. Magnetic Inversion Comparison to Chargeability Sections 3D View - GC01
Dipole-Dipole Array Explained
IP surveys can be acquired using a multitude of array types,
including Dipole - Dipole, Pole - Dipole, Pole - Pole, Gradient,
Schlumberger and Wenner. The Dipole - Dipole array is one of the
more common techniques used due to a number of advantages,
including its speed, its high resolution and multi-channel
capability, and because it provides a very detailed image instead
of providing a "big picture" image such as the Wenner array.
A dipole is a pair of oppositely charged electrodes that are so
close together that the electric field seems to form a single
electric field rather than a field from two different electric
poles. The dipole-dipole array consists of a current electrode pair
and a potential electrode pair and it offers a way to plot raw data
in order to get an idea of a cross-section of the earth. Those
using the dipole-dipole array look at a measurement value called
apparent resistivity, which represents a weighted average of the
resistivities under the four electrodes used to take the reading.
The apparent resistivity is typically calculated by modern
instruments from the geometry between the four electrodes and the
injected current and measured potential.
The dipole-dipole method has made it easier to visualise the
collected data in the form of 2D handmade contour plots. The result
of a dipole-dipole survey is plotted in a pseudo-section. For each
measurement, the apparent resistivity data is plotted at the
midpoint between the two dipoles and at a depth half the distance
between the two dipoles.
The value is finally contoured and colorised, which represents
an image of the subsurface. So while this array doesn't provide an
actual image of the ground, the data points resulting from these
measurements provide an image of the cross section that can then be
interpreted by the geophysicists. With the use of inversion
software these apparent resistivity and chargeability values can be
converted to "true" resistivity and chargeability values so that a
realistic image of the ground can be created.
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLDZGGZFFZGFZM
(END) Dow Jones Newswires
February 06, 2023 02:00 ET (07:00 GMT)
Empire Metals (AQSE:EEE.GB)
Gráfico Histórico do Ativo
De Out 2024 até Nov 2024
Empire Metals (AQSE:EEE.GB)
Gráfico Histórico do Ativo
De Nov 2023 até Nov 2024
