Empire Metals Limited (LON:EEE) has reported further results from the second phase of reverse circulation drilling at the Eclipse gold project in Western Australia.
The AIM-listed explorer said that a total of 4,589 metres of drilling in 44 drill holes was completed during the second phase, which it said has confirmed the existence of a number of parallel veins in addition to the main Eclipse vein.
Empire also said the drilling had confirmed a different stockwork style of near-surface mineralisation in the vicinity of the Jack’s Dream old workings, including one intercept of 24m at 1.44 grams per tonne of gold.
The firm said interpretation of the results is now underway and a further work programme will be announced shortly which it said is likely to include preparation of a JORC compliant resource and initial pit optimisation studies.
“We have consistently received encouraging results from drilling at Eclipse and this latest suite of results are particularly important as they confirm our belief that there are multiple parallel vein systems present. It is also especially interesting to have identified what appears to be a stockwork style of mineralisation around and beyond the Jack’s Dream workings, extending the potential strike length and width of the multiple vein systems at Eclipse by over 300m and 250m respectively,” Empire director Mike Struthers said in a statement.
“Additional intersections of potentially economic mineralisation within 80m of surface further strengthens the company’s view that there is clear potential for a profitable open pit operation at Eclipse, and the next phase of work will likely include preparation of a JORC compliant resource estimate and pit optimisation studies. We look forward to confirming the work programme and other details of the company’s vision for the development of Eclipse in due course,” he added.
The company’s shares were 4.6% lower at 3.6p in early trading on Thursday.