REG - Empire Metals Ltd - Commencement of Drilling at Eclipse-Gindalbie

Empire MetalsAnnouncement

22/06/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220622:nRSV6796Pa&default-theme=true

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
(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
(http://www.empiremetals.co.uk)   or contact:

 Empire Metals Ltd                                                                       Tel: 020 7907 9327

 Shaun Bunn /Greg Kuenzel
 S. P. Angel Corporate Finance LLP (Nomad & Broker)                                      Tel: 020 3470 0470

 Ewan Leggat /Adam Cowl
 Shard Capital Partners LLP (Joint Broker)                                               Tel: 020 7186 9950

 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.

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLSEFFLFEESESM