REG - Empire Metals Ltd - Significant Structure Identified at Pitfield

Empire MetalsAnnouncement

18/08/2022 07:00

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RNS Number : 3615W  Empire Metals Limited  18 August 2022

 

Empire Metals Limited / LON: EEE / Sector: Natural Resources

 

18 August 2022

Empire Metals Limited

 

Airborne Magnetic Survey Identifies Significant Structure at Pitfield
Copper-Gold Project

 

Structure Closely Aligns with Previously Reported 7km Copper Anomaly

 

Empire Metals Limited (LON: EEE), the AIM-quoted resource exploration and
development company, is pleased to announce the results of the airborne
magnetic survey carried out in June 2022 at the Pitfield Copper-Gold Project
('Pitfield'), located in Western Australia.

 

Highlights

·    Close spaced (50m line spacing) airborne magnetic and radiometric
survey completed over the previously reported magnetic anomaly extending from
near the western boundary and through much of the 615 sq km Pitfield licence
area.

·    A significant structure has been interpreted along the western
boundary of the magnetic anomaly that closely aligns with a surface copper
anomaly stretching over 7km, previously identified by CRA (which became part
of Rio Tinto Group) when conducting surface sampling in the early 1990s.

·    Pitfield is located immediately adjacent to the historic Baxters
copper mine at Arrino which produced 106 tonnes of copper ('Cu') at a grade
between 20-30% Cu which, along with numerous other prospects, demonstrates
high regional prospectivity for copper

·    The highly magnetic anomaly seen from the airborne survey, which
extends for over 20km north-south along the western margin of the licence,
indicates potential for the presence of magnetite which could be associated
with a regional scale alteration event.

·    Excellent resolution of stratigraphy and structure has been achieved
with the new survey which will greatly assist in understanding the geological
location of known copper anomalism, and in targeting areas with the highest
exploration potential during our field activities.

 

Shaun Bunn, Managing Director, said: "This is a tremendous result for Empire,
and clear evidence of the mineralised potential of this geologically
significant asset.  Our early success from the airborne magnetic survey has
confirmed that the historical geochemical sampling closely aligns with a
significant magnetic anomaly.

 

"We are very much looking forward to receiving the detailed analysis of our
recently completed airborne electro-magnetic survey in the next few weeks,
which was designed to complement this magnetic and radiometric survey work
programme. These surveys, combined with the historical geochemical mapping
completed by CRA and others, will allow our technical team to develop a
comprehensive geological map and database for the Pitfield project, with the
expectation that over time we can define several highly prospective copper
resource targets."

 

The Pitfield Copper-Gold Project

Location and Regional Geology

Pitfield is comprised of a granted Exploration Licence (E70/5465) and an
Exploration Licence Application (E70/5876) covering a total of 615 sq km.
Pitfield is located near Three Springs, a town  313 kilometres north of
Perth, Western Australia on the Midlands Road, which until the opening of the
Brand Highway in 1975 was the main road route from Perth to the state's north.
(refer Figure 1).

 

Figure 1.- Location Map - Showing Pitfield Tenements and Major Access Roads.

 

 

Local Geology and Historical Mining Activities

Pitfield lies at a unique setting along the boundary of Western Yilgarn
province, where a major craton-scale structure internal to Southwest Gneiss
province intersects and offsets the Yilgarn margin and controls the position
of the Neoproterozoic Yandanooka basin, the only example of this globally
important copper prospective age adjacent to the western Yilgarn craton.

 

Pitfield encompasses much of the highly prospective Neoproterozoic Yandanooka
Group sediments consisting of sandstone, siltstone and polymictic conglomerate
with andesite to trachyte clasts. A rib of the Mesoproterozoic Mullingarra
Gneiss is exposed close to the western margin of the project area.

 

About 25% of the project area is exposed/weathered Proterozoic rocks of the
Yandanooka Group where the known copper prospects are located. There is minor
Permian cover and 70% of the area comprises a shallow transported cover.
Previous government geophysical surveying showed a gravity-high anomaly which
suggests higher density mafic rocks at depth, which may provide a source for
copper within the project.

 

Major lithological contacts, either within basins or at the basement contact
(particularly transitions between oxidised and reduced rocks) can focus copper
deposition. Pitfield is located along strike from the historic Baxters copper
mine at Arrino which produced 106 tonnes of copper at a grade between 20-30%
Cu which, along with numerous other prospects, demonstrates that the copper
mineralisation process has occurred in the Pitfield area.

 

Geochemical sampling by CRA and others has confirmed that a previously
identified magnetic anomaly associated with alteration including magnetite/
hematite, epidote replacement and fractures and carbonate-quartz veinlets is
host to extensive copper anomalism, extending south from Baxters and with
greater than 150ppm Cu in soils identified over a strike length of 7km (refer
Figure 2.).  The anomaly remains open to the south and east including over
10km of this high-intensity magnetic feature within the project which is yet
to be explored. Limited exploration has been undertaken within the project
outside a 5km radius from the Baxters mine.

 

CRA (1993) completed IP geophysics and auger sampling which defined a
significant Cu-in-auger anomaly (plus Ag) over some 7km strike length open to
the east and south and followed up with two diamond holes, the southern hole
on Pitfield recording copper anomalism with a maximum value of 570ppm (from 4m
chip samples of drill core) associated with fracture-controlled malachite and
minor native copper. In addition, CRA surface sampling partially covered the
Pitfield project with soils and stream sediment sampling which confirmed
multiple areas of significant copper anomalism.

 

Figure 2.  Local Geology showing tenements and location of historic mining activities and 7km copper anomaly south of Baxters.

 

Results of Airborne Magnetic Survey

The previous governmental regional magnetic surveys were flown at 200m
line-spacing and indicated strongly magnetic stratigraphy/alteration within
the project area. Empire's more detailed survey, completed by Magspec Airborne
Surveys Pty Ltd in June, was flown on a 50m line spacing at a height of some
30m and comprising some 3470 line km, giving an enhanced magnetic and
radiometric resolution over the main areas of interest (Figure 3.)

 

This has provided valuable structural, stratigraphic and surficial cover
details which, along with the airborne electromagnetic survey results soon to
be received plus the compilation of the historical soil and rock chip
sampling,  will greatly assist with prospect-scale target definition for
geochemical mapping and future drilling campaigns.

 

 

Figure 3. Pitfield Aeromagnetics - total magnetic intensity image

 

Copper mineralisation has previously been mainly found within the non-magnetic
sandstone and siltstone units which lie along the better exposed western
margin of the Yandanooka sedimentary basin and the basement Mulingarra Gneiss.
The highly magnetic anomaly seen from the airborne survey, which extends for
over 20kms in a north-south dimension, is likely highlighting the Beaconfield
conglomerate unit. Importantly, the Beaconfield conglomerate unit contains
mafic to intermediate volcanic clasts, which are highly susceptible to the
formation of the mineral magnetite during regional scale alteration events.
During such events major lithological contacts, either within basins or at the
basement contact (particularly transitions between oxidised and reduced rocks)
can focus copper deposition. The western margin of the magnetic feature
coincides with the mapped outcrop position of Beaconsfield conglomerate along
a NNW-trendiong ridge, however the geological setting of much of the remainder
of the magnetic anomaly is concealed under shallow cover and not yet fully
understood.

 

The historic exploration by CRA, Kennecott, and Carpentaria Exploration (MIM),
who concentrated their work on this contact south of the old Arrino (Baxters)
workings, has comprised:

i.      a few bedrock diamond drill holes focussed on the Baxters mine
area, plus very isolated stratigraphic holes; and

ii.     shallow Air Trac and RAB drilling where single samples (at
variable depths down hole) where collected from the end of hole.

 

This work is shown on Figure 4 below and defines a strongly copper anomalous
trend (>400ppm copper) along the interpreted structural corridor on the
western margin of the magnetic high domain which extends for at least 7km and
remains open to the south. Little additional drilling has been completed
elsewhere within the project area.

 

Figure 4. Pitfield enhanced magnetic and gravity background in relation to CRA
historical RAB drilling. 

CRA surface sampling comprising soils, auger and stream sediments are shown on
Figure 5, and reinforces that the strongly copper anomalous trend seen in the
shallow drilling does extend further south, but also highlights significant
copper anomalism in other areas such as Mt Scratch. The main copper trend
along the western margin of the magnetic feature coincides with a NNW-trending
topographic ridge with residual soils and sporadic outcrop. In the eastern
part of the CRA soil sampling area surficial cover encroaches and the soils
response diminish commensurately, but Empire considers the soils to be less
effective, and require an alternative exploration approach.

Figure 5. Pitfield enhanced magnetic and gravity background in relation to CRA
historical soil and stream sampling.

 

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 / 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 9.5km2 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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