TIDMEEE
RNS Number : 1603L
Empire Metals Limited
09 September 2021
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/1603L_1-2021-9-8.pdf
Empire Metals Limited / AIM: EEE / Sector: Natural Resources
9 September 2021
Empire Metals Limited ('Empire' or the 'Company')
Drilling Commences at the Central Menzies Gold Project
Empire Metals Limited, the AIM-quoted resource exploration and
development company, is pleased to announce the commencement of the
Reverse Circulation ('RC') drilling campaign at the Central Menzies
Gold Project ('Central Menzies' or the 'Project').
Overview:
-- Commencement of a drill programme of 26 RC holes for a total
of 2,140 metres at the Central Menzies Gold Project, targeting two
prospects, both of which are along strike from the Yunndaga deposit
(Figure 1), historically the largest gold mine in the Menzies field
with over 270,000oz produced.
-- A detailed review of the historical dataset identified
several prospects within the Project area. Two of these, known as
Teglio and Nugget Patch, have been prioritised in this initial RC
drilling campaign based on their elevated gold concentrations, and
the potential to generate significant strike and lateral
extension.
-- 13 RC holes for 1,100 metres has been designed at Teglio,
testing a strike length of 520 metres.
-- At Nugget Patch, a further 13 RC holes for 1,040 metres are planned.
-- Further drilling targets are expected to be generated within
the Project area once the geochemical soil sampling results are
received. The soil sampling targeted areas of the greatest
prospectivity based on the location of historical workings as well
as areas of limited previous drilling.
Shaun Bunn, Managing Director, said: "The commencement of our
first drill campaign at Central Menzies represents another major
milestone for the Company and one I am pleased to say we have
reached in accordance with our development plans. This demonstrates
that whilst we are operating in a major mining boom here in Western
Australia, where drillers and rigs are booked out months in advance
and geological support is difficult to secure, the Company is well
supported by its own staff and our external contractors. Despite
slow assay turnaround from our recent soil sampling programme, we
remain on schedule and budget to complete the RC drilling campaign
and remain confident that the exploration programme envisaged under
the current Option Agreement will meet its objectives."
The Central Menzies Gold Project
In May 2021 Empire entered into 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). Central Menzies consists of four prospecting tenements
(P29/2631, 2362, 2363 and 2364) covering a total area of 618
hectares.
The tenements are 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 Bardoc-Menzies Shear
Zone, or associated fault splays. Gold-bearing quartz veins occur
along the sheared contacts between basalts and sediments. A series
of structurally controlled high-grade gold deposits have been
historically mined in the region and display widespread exploration
potential for high-grade extensions.
A soil sampling programme was carried out in July 2021, with
sampling sites situated on each of the four licences, although
largely focused on P29/2361 and P29/2363. The sampling grid was
160m x 40m and samples were collected from 10-30cm below surface
using standard industry practices.
The areas selected for sampling represented areas of the
greatest prospectivity based on the location of historical workings
as well as where there has been a low density of drilling (Figure
2). Essentially the tenements, other than P29/2364 which has been
the subject of previous rotary air blast ("RAB") drilling
campaigns, were devoid of surface geochemistry hence the primary
target of this soil sampling programme was to delineate a
mineralised footprint around the old mine workings and locate
anomalism indicative of new primary lodes.
Due to slower than expected assay turnaround the geochemical
mapping work has yet to be completed. The assays results are
expected in September 2021, and these will help inform the next
phase of site investigations and exploration activities.
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
Selina Lovell 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 in 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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