REG - MetalNRG PLC - Gold Ridge Soil Sampling Results

MetalnrgAnnouncement

09/11/2023 07:00

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RNS Number : 8329S  MetalNRG PLC  09 November 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE
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9 November 2023

 

MetalNRG plc

(the "Company" or "MetalNRG")

Gold Ridge Soil Sampling Results

 

Gold Ridge results confirm the possibility of a large undiscovered gold/base
metals system

 

MetalNRG plc (LON:MNRG), the natural resources and energy investment company,
is pleased to announce that the results from the geologic soil sampling
programme completed at its Gold Ridge property in Arizona, USA, have now been
reviewed and analysed. The Company is pleased to confirm that the results
support its previous belief that there is a real possibility of a larger
un-discovered gold/base metal system at Gold Ridge.

 

The programme produced 1,042 samples, which covered 100% of the Company's Gold
Ridge claims and 51 elements were analysed by the laboratory.

 

Highlights

 

·    Soil Geochemistry has provided evidence for multiple geologic events
including: strong gold, copper, lead and zinc mineralisation related to the
Mascot Stock

·    Strong gold, silver, arsenic, lead and zinc mineralisation related to
the Apache Pass Shear Zone ("APSZ")

·    New gold, copper, lead and zinc anomalous trend parallel to the APSZ
in the adjacent southern Precambrian block

·    Possible blind fault offset of the APSZ suggests historically mined
gold mineralisation is off-set slightly northward where no exploration
drilling has occurred

 

A presentation of the findings can be found on the Company's web site:
www.metalnrg.com (http://www.metalnrg.com)

 

Gold

 

The largest gold anomaly highlights the historic areas of exploration within
the APSZ. The large gold anomaly may be displaced northward at the eastern end
of mining. Secondary gold anomalies delineate a linear zone of gold
mineralisation in the southern Precambrian ("PC") block. The southern PC area
has had no modern trenching or drilling to date.

 

Silver

The silver anomalies highlight the APSZ and the western flank of the Mascot
Stock. The large silver anomaly appears displaced northward at the eastern end
of mining. Extensive new silver anomalies highlight the western extent of
APSZ.

Copper

The largest copper anomaly highlights a radial zone about the Mascot Stock. A
large, secondary copper anomaly is located west of the Dives Mine in an area
with no historic prospecting.

Rolf Gerritsen, Executive Director of MetalNRG, commented: "We are delighted
with these results which confirm that whilst there is follow up work to be
carried out, there is a real gold and indeed wider opportunity at Gold Ridge.
We look forward to providing further updates on this project in due course."

Christian Schaffalitzky, FIMMM, PGeo, CEng, a director of the Company, has
reviewed the update and consents to the inclusion of the exploration
information in the form and context in which it appears here. He is a
Competent Person for the purposes of the reporting of these results.

For further information, please contact:

 MetalNRG PLC:
 Rolf Gerritsen                                           +44 (0) 207 796 9060
 Chris Chadwick                                           +44 (0) 207 796 9060
 Peterhouse Capital Limited - Joint Broker:
 Lucy Williams                               + 44 (0) 207 469 0930
 Duncan Vasey                                + 44 (0) 207 469 0930
 S I Capital Limited - Joint Broker:
 Nick Emerson                                +44 (0) 1483 413500
 IFC Advisory Limited - Financial PR and IR
 Tim Metcalfe                                +44 (0) 203 934 6630
 Florence Chandler                           +44 (0) 203 934 6630

 

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