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Empire Metals (EEE) Shares Slide As Drilling Commences at Central Menzies Gold Project

Updated: 19 Aug 2021

AIM-quoted Empire Metals (LON: EEE) shares are falling on Thursday after the company announced the start of a reverse circulation (RC) drilling campaign at the Central Menzies Gold Project.

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The RC drilling programme of over 2,100 metres has been designed for Central Menzies and is expected to be completed in September.

Empire said the “areas selected for soil sampling represented areas of the greatest prospectivity based on the location of historical workings as well as areas of limited previous drilling.”

Shaun Bunn, Managing Director, said: “The technical focus and determined effort made by our geological team to identify drill-ready targets has been extremely encouraging and has meant that we can now start a substantial drilling campaign with a high degree of confidence in the targets selected.

“After reviewing the historical drilling database, and taking into account the geophysical data analysis, we have confirmed two highly prospective mineralised zones which will be the primary focus of the coming RC drilling campaign. We anticipate adding further drilling targets to the development plan as we complete the geochemical mapping based on the recently completed soil sampling programme.”

Empire Metals' share price is currently down 5.73% at 1.93p following the news.

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