TIDMEEE
RNS Number : 6245G
Empire Metals Limited
28 July 2021
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6245G_1-2021-7-27.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
28 July 2021
Empire Metals Limited ('Empire' or the 'Company')
Identification of new 'Twin Shafts' Lode at Eclipse Gold
Project
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to announce the results of t he
third phase of reverse circulation ('RC') and infill diamond
drilling at the Eclipse Gold Project, located 55km north-east of
Kalgoorlie, Western Australia ('Eclipse' or the 'Project').
Highlights:
-- Third phase of RC drilling at the Eclipse Gold Project has
delivered encouraging results and supports the scaling of the
Project's mineralised footprint.
-- The drilling campaign was conducted over a 10 day period from
20 April 2021 to 29 April 2021 during which time 19 RC holes were
drilled for a total of 1,893 metres, and three PQ core diameter
drill holes were drilled for a total of 201.1 metres.
-- The RC drilling has confirmed the existence of several
parallel veins in addition to the main Eclipse vein and the diamond
drilling has replicated intercepts from previous RC drilling as
well as providing an invaluable insight into the nature of the
mineralisation and the alteration zones.
-- Targeted RC drilling with respect to a twin set of historical
workings located SW of Eclipse has proved favourable and has
identified a mineralised lode running sub-parallel to the Eclipse
vein, referred to as 'Twin Shafts'.
-- The drilling has confirmed the different stockwork style of
near-surface mineralisation in the vicinity of the Jack's Dream old
workings, which is breccia in style and has a different orientation
to Eclipse/Twin Shafts. This indicates both increased complexity
and possibly an increased duration of the gold system.
-- Significant RC drilling intercepts include:
o 5m @ 3.54 g/t Au from 126m downhole at Jack's Dream
o 6m @ 2.39 g/t Au from 50m downhole at Jack's Dream
o 4m @ 4.78 g/t Au from 66m downhole at Twin Shaft
o 2m @ 3.65 g/t Au from 53m downhole at Eclipse
o 1m @ 4.08 g/t Au from surface at Eclipse
The RC drill intercepts above 1.3 g/t Au from the current phase
of drilling are summarised in Table 4 below.
-- The consequence of the extensional RC and infill diamond
drill campaigns is that the gold camp at Eclipse is starting to
present characteristics that underscore the exploration
potential.
Shaun Bunn, Managing Director, said: "The results from the most
recent drilling campaign at Eclipse are most encouraging,
confirming the presence of additional mineralised zones. A new
lode, referred to as the Twin Shafts, has also been identified. The
lodes at Eclipse and Twin Shafts are sub-parallel veins spanning a
lateral distance of 120m. The mineralisation at Jack's Dream has
now been intercepted at depth, 126m downhole, and continues to
remain open at depth and to the south-east, towards the Eclipse
orebody. The exploration work to date continues to bear fruit and
the footprint of mineralisation at Eclipse is starting to gain
scale. Work at Eclipse will continue to evaluate and extend the
mineralisation at Twin Shafts and Jack's Dream, and we are also now
looking forwards to the first results for our initial soils
programme at Central Menzies. "
The Eclipse Gold Project
Empire Metals has a 75% interest in the high-grade Eclipse Gold
Project comprising a mining licence located 55km north-east of
Kalgoorlie, Western Australia, together with an option to acquire
the remaining 25%.
The project lies within the highly concentrated gold mining
region of Western Australia, north-west of famous gold operations
such as Kanowna Belle and Paddington (Figure 1).
RC and Diamond drill programmes at Eclipse
The primary purpose of the Eclipse RC drill programme of April
2021 was to test if the mineralised system continues along strike
towards Jack's Dream and to establish how the mineralisation
exposed by shafts proximal to Eclipse link with the Eclipse gold
system. Infill drilling also added confidence to the mineralisation
model and the previous RC drilling around the Eclipse shaft were
supported by the addition of three diamond drill holes. The diamond
drill holes targeted the Eclipse mineralisation at various depths
from surface. They had a dual purpose of both characterising the
vein-system hosting the gold mineralisation and to also enable
geotechnical assessments ahead of mine design.
BM Geological Services was commissioned by Empire Metals to
assist with the supervision of drilling of the drill campaign at
the Eclipse Gold Project. iDrilling was engaged for 10 days from
Tuesday 20 April 2021 to Thursday 29 April 2021 and drilled a total
of 19 RC holes for 1,893 metres. During this period Terra Drilling
commenced a programme of three PQ core diameter drill holes for a
total of 201.1 metres.
Results for the RC drill programme at Eclipse
The RC drilling resulted in several significant intercepts
(Table 1). Due to an inundation of samples at the assay
laboratories, it has taken 7-8 weeks for gold assays to be
reported. This update presents the results of 1m resplits where
available. However in some instances only 4 metre composites
samples can be reported.
The mineralisation of Jack's Dream workings was targeted by a
few RC holes. Previously ECRC21_020 encountered significant
quartz-breccia hosted gold mineralisation. Recent drill holes
ECRC21_045 and ECRC21_046 confirmed that the down dip extent of the
primary vein set exceeds 60 metres and has a horizontal strike of
40 metres (Figures 2 and 3).
ECRC21_054 targeted an un-named shaft situated approximately 120
metres south-west of Eclipse and reported 4 metres @ 4.78 g/t Au
(Figure 4). It aligns with the locations of a twin set of shafts
and represents a new lode, highlighting the potential for multiple
subparallel gold-bearing quartz vein arrays within this gold camp.
ECRC21_055 also intersected the Twin Shaft mineralisation with 1m @
1.26 g/t Au.
ECRC21_053 extended the defined Eclipse mineralisation another
30 metres to the north-west. This drill intercept demonstrates that
along the Eclipse corridor, the mineralised vein sets will
pinch-out but then swell again yielding strong gold
mineralisation.
ECRC21_059; ECRC21_060 & ECRC21_062 targeted the Eclipse
workings, improving confidence within an area at the southern
margin of the Eclipse mineralisation that has strongly relied upon
the results of historical drilling.
Hole_id Depth From Depth Interval Au (g/t) Target
(m) To (m)
(m)
ECRC21_045 126 131 5 3.54 Jack's Dream
----------- ------ --------- --------- -----------------------
ECRC21_046 50 56 6 2.39 Jack's Dream
----------- ------ --------- --------- -----------------------
ECRC21_053 40 42 2 1.68 Eclipse - NW extension
----------- ------ --------- --------- -----------------------
ECRC21_053 51 54 3 2.08 Eclipse - NW extension
----------- ------ --------- --------- -----------------------
ECRC21_054 66 70 4 4.78 Twin Shaft
----------- ------ --------- --------- -----------------------
ECRC21_055 33 34 1 1.26 Twin Shaft
----------- ------ --------- --------- -----------------------
ECRC21_059 75 77 2 1.75 Eclipse
----------- ------ --------- --------- -----------------------
ECRC21_060 53 55 2 3.65 Eclipse
----------- ------ --------- --------- -----------------------
ECRC21_062 0 1 1 4.08 Eclipse
----------- ------ --------- --------- -----------------------
Table 1 . Significant intercepts of the RC drill programme
Figure 2. The location of the recent RC and diamond drill holes
in the context of mineralisation (red lines).
Figure 3. Cross-Section at Jack's Dream, showing the down dip
extension of the Jack's Dream mineralisation.
Figure 4. Cross-Section at the new Twin Shaft workings showing
the attitude and parallel mineralisation that aligns with the
position of the shafts at surface. The mineralisation is
subparallel to the main Eclipse veins.
Results for the diamond drill programme at Eclipse
Each of the three diamond drill holes intersected mineralisation
with gold metal concentrations that matched expectations (Table 2).
Gold was not present in the larger bucky-white veins but rather it
was associated with thin ladder veins proximal to patchy sericite
and albite alteration that also comprised disseminated pyrite +/-
arsenopyrite (Figure 5).
The host rock was largely homogenous and non-descript. However,
occasional bands of fine-grained siltstone indicated that the
lithology is dominantly a sandstone with minor siltstone
occurrences. Mixed sand/silt provenance may have led to the
intermediate composition of this material.
Hole_id Depth_from Depth_to Interval Au_ppm
(m) (m) (m)
ECDD21_001 42.35 47.75 5.4 1.99
----------- --------- --------- -------
ECDD21_002 16.2 21 4.8 1.93
----------- --------- --------- -------
ECDD21_002 25.80 26.4 0.6 3.52
----------- --------- --------- -------
ECDD21_003 19.8 20.3 0.5 4.22
----------- --------- --------- -------
ECDD21_003 101.9 110 8.1 2.35
----------- --------- --------- -------
Incl 101.9 104.3 2.4 5.86
----------- --------- --------- -------
ECDD21_003 114.8 115.7 0.9 1.12
----------- --------- --------- -------
Table 2 . Significant intercepts of the diamond drill
programme.
Figure 5. Core photo collage with gold values assigned to the
sampled intervals with elevated gold concentrations.
Programme's Drill Collar
Hole_id MGA_E MGA_N MGA_RL Hole_type Max_depth Dip Azimuth
(m)
ECRC21_045 379511 6644191 408 RC 200 -60 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_046 379595 6644219 407 RC 150 -60 225
------- -------- ------- ---------- ---------- ---- --------
ECRC21_047 379595 6644241 407 RC 85 -55 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_048 379437 6644184 409 RC 102 -55 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_049 379475 6644220 408 RC 96 -55 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_050 379610 6644360 406 RC 96 -55 225
------- -------- ------- ---------- ---------- ---- --------
ECRC21_051 379388 6644242 409 RC 96 -55 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_052 379413 6644269 408 RC 102 -55 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_053 379666 6644144 407 RC 90 -60 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_054 379583 6644064 408 RC 102 -55 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_055 379589 6644096 408 RC 90 -55 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_056 379574 6644078 408 RC 90 -55 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_057 379621 6644062 408 RC 84 -55 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_058 379646 6644088 408 RC 78 -55 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_059 379793 6644032 406 RC 96 -60 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_060 379810 6644041 406 RC 78 -60 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_061 379908 6644004 405 RC 72 -60 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_062 379795 6644082 406 RC 36 -60 45
------- -------- ------- ---------- ---------- ---- --------
ECRC21_063 379586 6644275 407 RC 150 -60 225
------- -------- ------- ---------- ---------- ---- --------
ECDD21_001 379731 6644124 407 D 55.2 -60 45
------- -------- ------- ---------- ---------- ---- --------
ECDD21_002 379797 6644086 407 D 30.2 -60 45
------- -------- ------- ---------- ---------- ---- --------
ECDD21_003 379722 6644091 407 D 115.7 -60 45
------- -------- ------- ---------- ---------- ---- --------
Table 3 . Drill hole information (collar and downhole
survey).
Programme's Drill Intercepts (Above 1.3 Au ppm)
Hole_id Depth_from Depth_to Interval Au_ppm
(m) (m) (m)
ECDD21_001 42.35 42.95 0.6 1.49
----------- --------- --------- -------
ECDD21_001 47.15 47.75 0.6 12.75
----------- --------- --------- -------
ECDD21_002 16.2 16.8 0.6 2.83
----------- --------- --------- -------
ECDD21_002 16.8 17.4 0.6 3.93
----------- --------- --------- -------
ECDD21_002 17.4 18 0.6 4.73
----------- --------- --------- -------
ECDD21_002 19.2 19.8 0.6 1.83
----------- --------- --------- -------
ECDD21_002 25.8 26.4 0.6 3.52
----------- --------- --------- -------
ECDD21_003 19.8 20.3 0.5 4.22
----------- --------- --------- -------
ECDD21_003 101.9 102.2 0.3 4.99
----------- --------- --------- -------
ECDD21_003 102.2 102.5 0.3 6.63
----------- --------- --------- -------
ECDD21_003 102.5 102.8 0.3 4.77
----------- --------- --------- -------
ECDD21_003 102.8 103.1 0.3 3.83
----------- --------- --------- -------
ECDD21_003 103.1 103.4 0.3 1.67
----------- --------- --------- -------
ECDD21_003 103.4 103.7 0.3 15.25
----------- --------- --------- -------
ECDD21_003 103.7 104 0.3 8.33
----------- --------- --------- -------
ECDD21_003 104 104.3 0.3 1.4
----------- --------- --------- -------
ECDD21_003 106.1 106.4 0.3 1.74
----------- --------- --------- -------
ECDD21_003 106.7 107 0.3 1.62
----------- --------- --------- -------
ECDD21_003 108.5 108.8 0.3 2.55
----------- --------- --------- -------
ECDD21_003 109.7 110 0.3 1.76
----------- --------- --------- -------
ECRC21_045 126 127 1 3.61
----------- --------- --------- -------
ECRC21_045 127 128 1 3.86
----------- --------- --------- -------
ECRC21_045 128 129 1 3.15
----------- --------- --------- -------
ECRC21_045 129 130 1 2.34
----------- --------- --------- -------
ECRC21_045 130 131 1 4.73
----------- --------- --------- -------
ECRC21_046 50 51 1 1.75
----------- --------- --------- -------
ECRC21_046 51 52 1 1.39
----------- --------- --------- -------
ECRC21_046 53 54 1 5.14
----------- --------- --------- -------
ECRC21_046 54 55 1 3.99
----------- --------- --------- -------
ECRC21_053 40 41 1 2.33
----------- --------- --------- -------
ECRC21_053 51 52 1 2.65
----------- --------- --------- -------
ECRC21_053 52 53 1 2.45
----------- --------- --------- -------
ECRC21_054 66 67 1 12.1
----------- --------- --------- -------
ECRC21_054 67 68 1 2.93
----------- --------- --------- -------
ECRC21_054 69 70 1 3.93
----------- --------- --------- -------
ECRC21_059 75 76 1 2.53
----------- --------- --------- -------
ECRC21_060 53 54 1 2.23
----------- --------- --------- -------
ECRC21_060 54 55 1 5.07
----------- --------- --------- -------
ECRC21_062 0 1 1 4.08
----------- --------- --------- -------
Table 4. Drill Intercepts above 1.3 Au ppm.
The Central Menzies Gold Project
The Company recently announced the signing of an Option
Agreement to acquire a 75% interest in the Central Menzies Gold
Project, located in the Menzies Shire, approximately 115km north of
the city of Kalgoorlie-Boulder and 10km south of the township of
Menzies (Figure 1). The prospect is accessible from
Kalgoorlie-Boulder via the sealed Goldfields Highway and then by a
2km unsealed road.
Central Menzies is wholly located within a north-north-west
trending greenstone belt, with basalts as the dominant hosts
together with interbedded shales and magnetite-rich banded iron
formations ("BIF"), with mineralisation hosted within the Menzies
Shear Zone, or associated fault splays. Gold-bearing quartz veins
occur along the contact between basalts and sediments. A series of
structurally controlled high-grade gold deposits have been
historically mined and display extensive exploration potential for
high-grade extensions.
The Company continues to build up a comprehensive geological
database for Central Menzies utilising historical exploration
reports and data. The Company is currently conducting soil sampling
for geochemical mapping ahead of a planned RC drilling campaign
expected to commence in August.
Competent Person Statement
The technical information in this report that relates to the
Eclipse Gold Project has been compiled by Mr Andrew Bewsher, a
full-time employee of BM Geological Services. Mr Bewsher is a
Member of the Australian Institute of Geoscientists. Mr Bewsher has
been engaged as a consultant by Empire Metals Limited. Mr Bewsher
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'. Mr
Bewsher consents to the inclusion in this release of the matters
based on his 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:
Shaun Bunn Empire Metals Ltd Company Tel: 020 7907
9327
Mike Struthers Empire Metals Ltd Company Tel: 020 7907
9327
Ewan Leggat S. P. Angel Corporate Nomad & Broker Tel: 020 3470
Finance LLP 0470
Adam Cowl S. P. Angel Corporate Nomad & Broker Tel: 020 3470
Finance LLP 0470
Damon Heath Shard Capital Partners Joint Broker Tel: 020 7186
LLP 9950
Susie Geliher St Brides Partners Ltd PR Tel: 020 7236
1177
Cosima Akerman St Brides Partners Ltd PR Tel: 020 7236
1177
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 strategy is to develop a pipeline of projects at
different stages in the development curve. Its current focus is on
the high-grade Eclipse Gold Project and the Central Menzies Gold
Project in Western Australia, with the goal to expand through the
addition of further projects in the region to develop a viable and
compelling portfolio of precious metals assets.
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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