TIDMEEE
RNS Number : 6796P
Empire Metals Limited
22 June 2022
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6796P_1-2022-6-21.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
22 June 2022
Empire Metals Limited
('Empire' or the 'Company')
Commencement of New Drilling Campaign at the Eclipse-Gindalbie
Gold Project
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to announce the commencement of the
next campaign of reverse circulation ("RC") drilling at the
combined Eclipse-Gindalbie Gold Project in Western Australia.
Highlights:
-- Commencement of an RC drilling campaign, consisting of over
3,290m of drilling across 26 drill holes, to target high grade
mineralisation at combined Eclipse-Gindalbie Gold Project
-- 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
the commencement of our next drilling campaign which will focus on
the most prospective targets identified to date within the combined
Eclipse-Gindalbie project area. The previous drilling at Homeward
Bound produced very high grades and we also encountered significant
gold mineralisation at depth below the small open pit at Bud's Find
and a 3m wide mineralised lode was identified at Laurel. I look
forward to providing further updates as the drill results become
available."
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.
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).
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.
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.
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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