Empire Metals Limited, the AIM-quoted resource exploration and development company, is pleased to announce that it has received approval from the Australian Foreign Investment Review Board to proceed with the acquisition of the Eclipse Gold Project, located 55km north-east of Kalgoorlie, Western Australia (‘Eclipse’ or the ‘Project’).
The final condition precedent is Ministerial Consent which is expected to be received shortly.
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Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
About Empire Metals Limited
Empire Metals’ primary focus is on the Eclipse Gold Project in Western Australia which produced 954 tonnes @ 24.6 g/t Au for 754.25 oz Au from the Eclipse shaft which operated up to 1910. In addition to the known mineralisation at and surrounding the Eclipse old workings, recent geophysics and geochemistry work has highlighted further potential mineralisation at two additional targets north-west of Eclipse, the Houdini and Easy prospects.
The Company also has a 50% joint venture in Georgia which covers an area of over 860 sq km and has a 30-year mining licence. The joint venture covers a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which is due to advance to Feasibility Study.
The Board continues to evaluate opportunities through which to realise the value of its wider portfolio and reviews further assets which meet the Company’s investment criteria.
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