TIDMMNRG

RNS Number : 9698S

MetalNRG PLC

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 plc

("MetalNRG" or the "Company")

GoldRidge Update

MetalNRG (LON:MNRG), the natural resources and energy investment company, announces an update on its Arizona based Gold project, GoldRidge.

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 MetalNRG.

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 opportunity."

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014:

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.

END

Contact details:

 
 MetalNRG PLC 
  Rolf Gerritsen 
  Christopher Latilla-Campbell     +44 (0) 20 7796 9060 
 Corporate Broker 
  PETERHOUSE CAPITAL LIMITED 
  Lucy Williams 
  Duncan Vasey                     +44 (0) 20 7469 0930 
                                 ---------------------- 
 Corporate Broker 
  SI CAPITAL LIMITED 
  Nick Emerson                     +44 (0) 1483 413500 
                                 ---------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDGPGBAGUPGUBB

(END) Dow Jones Newswires

November 22, 2021 02:00 ET (07:00 GMT)

Metalnrg (LSE:MNRG)
Historical Stock Chart
From Jul 2022 to Aug 2022 Click Here for more Metalnrg Charts.
Metalnrg (LSE:MNRG)
Historical Stock Chart
From Aug 2021 to Aug 2022 Click Here for more Metalnrg Charts.