15th Sep 2021 21:55
Empire Metals Ltd - Gold and copper miner with assets in Australia, Georgia and Austria - Says mineralised system at Eclipse gold project in Western Australia is much larger than originally thought. As such, further drilling is required at the Eclipse project to test the strike and depth extensions of multiple gold structures.
Shaun Bunn, managing director, said: "In considering how best to approach the next phase of exploration at the Eclipse Gold Project it has become apparent that we need to determine what controls the gold mineralisation and in doing so where the high-grade mineralisation might persist. Whilst our initial focus was on a near-surface, laterite-hosted deposit we now believe the high-grade targets will most likely be found slightly deeper at the fresh rock interface, both down dip and along strike of the current workings.
"We are also focusing on the wider potential that is offered by combinations of the Eclipse lode with the Jack's Dream extension and the recently discovered Twin Shaft lode to see if a larger mineralised inventory can be established prior to commencing further mine optimisation studies."
Current stock price: 1.80 pence
Year-to-date change: down 57%
By Arvind Bhunjun; [email protected]
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