MetalNRG PLC Gold Ridge - Results from Geochemical Sampling
RNS Number : 8591L
18 May 2022
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18(th) May 2022
ENCOURAGING RESULTS FROM GEOCHEMICAL SAMPLING
COMPLETED AT GOLD RIDGE ARIZONA
MetalNRG plc ("MetalNRG" or the "Company") announces that it has
completed its Phase I geochemical campaign at its Gold Ridge Gold
mine property in Arizona with very encouraging results that pave a
pathway to further exploration work to be focussed and planned.
-- Soil Geochemistry has provided evidence for multiple geologic events including
the offset of Apache Pass Shear Zone (APSZ) at eastern
termination of historic mining.
-- This offset implies that historically mined gold
mineralization is transposed northwards where no exploration
drilling has occurred.
-- A new linear gold anomaly has been defined in the Southern PC
block which parallels the APSZ as a multi-element geochemical
-- A new significant multi-element geochemical anomaly occurs 1km west of the Dives Mine.
-- Copper anomalies in volcanic rocks show strong evidence for
radial fracturing, a common feature of porphyry deposits.
-- The findings of the geochemical program encourages the
Company to conclude that the area may host a larger mineralization
system controlling all the surface mines and showings.
MetalNRG has completed just under 600 (Phase I) of the 1,000
geochemical samples planned. The laboratory analysis was conducted
for Gold, Silver and 49 other elements by ALS Chemex. The largest
gold anomalies were found in historical areas mined for gold;
however, a secondary zone of gold anomalies was found in an area
previously unexplored and delineates a new linear zone of gold
mineralization in the Southern Precambrian block.
All sample results to date show:
-- Gold above 25ppb = 14%
-- Silver above 0.3ppm = 38%
-- Lead above 35ppm = 47%
-- Copper above 35 ppm = 40%
-- Zinc above 115 ppm = 33%
Bart Stryhas, Senior Geologist on the project, commented: "These
results confirm our previous beliefs, that there is indeed a real
possibility of a larger un-discovered gold/base metal system at
Gold Ridge; we are now working with the Board to establish the next
For more information, MetalNRG will make a PowerPoint
presentation available on its website www.metalnrg.com under the
Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the
Company. He has reviewed the update and consents to the inclusion
of the exploration information in the form and context in which it
appears here. He is a Competent Person for the purposes of the
reporting of these results.
Christopher Latilla-Campbell +44 (0) 20 7796 9060
PETERHOUSE CAPITAL LIMITED
Lucy Williams/Duncan Vasey +44 (0) 20 7469 0930
SI CAPITAL LIMITED
Nick Emerson +44 (0) 1483 413500
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May 18, 2022 02:04 ET (06:04 GMT)
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