MetalNRG PLC Goldridge Update
RNS Number : 9698S
22 November 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK
LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS
(SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
22 November 2021
("MetalNRG" or the "Company")
MetalNRG (LON:MNRG), the natural resources and energy investment
company, announces an update on its Arizona based Gold project,
Following on from our previous announcement, regarding GoldRidge
on 6(th) September 2021, in which we gave an overview of work
completed, Bart Stryhas Phd CPG, the Company's Senior Geologist,
has made solid progress on the project.
In preparation for site work in Q4, MetalNRG's project team has
acquired 35 new additional and extremely relevant, public domain
documents describing historic mining operations and geologic
descriptions of several previously un-recorded mines located within
the ownership of the GoldRidge property. This new information hosts
a large portion of the data and information that our planned site
work was originally designed to obtain and, as a result, we are now
able to accelerate to the next phase of work.
A 1940 Master's Thesis on the Dives Mine, which also host
details of the Gold Ridge Mine, has provided considerable insight
on the structural geology of the operations.
Data and information were also obtained for the First Chance
Mine, Arizona Klondike Mine, Leroy Mine and Elma Mine all owned by
This new detail is being incorporated into the current geologic
and structural model of the project rather than completing
repetitive site work.
Work will now be directed toward initiating the soil geochemical
sampling program at the project. MetalNRG's Mining Consultants
based in the U.S.A have been contracted to collect more than 1000
samples on a 75m grid spacing.
The reports have help us focus our next phase of work which will
cover the South-eastern portion of the claim block where most of
the historic mining has occurred.
The soil exploration will provide detailed, multi-element
chemical analysis which will be instrumental in refining the
mineralogic and structural interpretation of the project. Work is
expected to commence shortly and be completed by the beginning of
Q1 2022, with results anticipated for late Q1 2022.
Chief Executive, Rolf Gerritsen, commented "The documents found
have enabled us to get more clarity of the area to focus on and has
added substantially to our confidence in the area as a real
The information set out below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
For the purposes of UK MAR, the person responsible for arranging
for the release of this announcement on behalf of the Company is
Rolf Gerritsen, Chief Executive Officer.
Christopher Latilla-Campbell +44 (0) 20 7796 9060
PETERHOUSE CAPITAL LIMITED
Duncan Vasey +44 (0) 20 7469 0930
SI CAPITAL LIMITED
Nick Emerson +44 (0) 1483 413500
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