Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!
(Wallace Refiners) – Empire Metals (LSE:EEE) shares have been on the rise this morning after the company revealed some encouraging drilling results that would supports extensions to a previously worked gold vein. The mine is located 55km north-east of Kalgoorlie, Western Australia and a total of 2,178 metres have been drilled of a total planned 44-hole, 2,600m programme.
The firms CEO Mike Struthers commented “Confirmation that the Eclipse mineralisation remains open at depth and along strike is very encouraging, and the high-grade intersection in drillhole ECRC20_009 supports extensions to the high-grade vein exploited in the old workings. The geological interpretation of the Eclipse mineralisation is still in its early stages, and the Company continues to interpret the data as it becomes available. I look forward to providing more updates in due course.”
Here are some of the results from the report this morning:
Drillhole ECRC20_009: 3m @ 21.96 g/t gold (‘Au’) from 45m(including 1m @ 56.9 g/t Au) – this is 30m along strike of existing historical workings and represents a previously unidentified extension to the main high-grade lode
Drillhole ECRC20_037: 8m @ 3.2 g/t Au from 133m(including 3m @ 4.45 g/t Au) – the deepest hole drilled to date and approximately 40m below the previously reported result of 11m at 3.04g/t (refer announcement 28 October 2020) indicating the mineralised structure remains open at depth and along strike
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.