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[iknowtheway]

Zeehan Zinc Reports $A1.1 Billion Resource
Friday September 30, 11:23 am ET


LENEXA, Kan.--(BUSINESS WIRE)--Sept. 30, 2005--Empire Energy Corporation International (Empire) (OTCBB:EEGC - News) announced that an independent report commissioned by Zeehan Zinc Ltd (ZZ) has identified a measured, indicated and inferred resource of 6,781,510 metric tons of ore at the old Comstock and Oceana mine sites near Zeehan, Tasmania (Australia).
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The ore, which averages 5.1 percent lead, 4.8 percent zinc and 52 grams per metric ton of silver, has a gross, in ground potential value at today`s metal prices and U.S. currency exchange rate of more than $A1.1 billion (Australian dollars).

Zeehan Zinc CEO Mr. David Tanner said, "This is an exciting and potentially very valuable deposit for Tasmanian jobs, the economy and the company."

The annual rate of mining and milling is currently approved at 200,000 metric tons, and the gravity separation plant already established on site can handle twice that tonnage. Production of lead and zinc concentrates will require construction of a flotation plant which is currently being designed, together with a tailings disposal facility scheduled for construction this summer, subject to planning and other approvals.

The resource that was estimated in the independent report complied with the Australasian Code for Reporting of Mineral Resources and Ore Reserves 1999 and was completed by a competent person as defined under that code.

Empire (EEGC) recently acquired 37.5 percent of ZZ through a subsidiary and has entered into an agreement that may increase, subject to certain conditions, Empire`s shareholding to 100 percent. Malcolm Bendall, CEO of Empire and Chairman of ZZ, said: "This acquisition and valuation is a huge strategic leap ahead for Empire. It is a significant asset that we believe may be capable of being leveraged to meet the objectives and future financial commitments of ZZ, GSLM and Empire."

[iknowtheway]

Empire Announces 2005 Seismic Program to Further Define Structures Capable of Reservoiring Oil and Gas
Thursday September 29, 1:00 pm ET


LENEXA, Kan.--(BUSINESS WIRE)--Sept. 29, 2005--Empire Energy Corporation International (Empire) (OTCBB:EEGC - News), through its wholly owned subsidiary Great South Land Minerals, Ltd (GSLM), has entered into a seismic services contract with Terrex Seismic headquartered in Perth, Western Australia, to commit additional anticipated expenditure of up to AUD$6.0 million over the next year. During the past year GSLM and Empire have been involved in intensive planning and negotiations for a 1,147 line kilometer regional seismic survey in the Tasmania Basin (TB02) over GSLM`s Special Exploration License (SEL) 13/98. Scouting and line positioning work will commence mid-October with seismic recording scheduled to commence mid-January 2006.
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It is estimated the TBO2 program will cost AUD$5.1 million. Immediately following the TBO2 program, TB03 will commence over GSLM`s recently applied for SEL 29/2005 extending the regional survey by up to 150 line kilometers, at an estimated cost of AUD$900,000.

During 2000 and 2001, GSLM expended in excess of AUD$3 million on its first regional seismic survey TB01, with Terrex Seismic completing 660 line kilometers of 2-D seismic covering defined prospect areas within the Tasmania Basin over Central and Northern Tasmania. It is anticipated that the proposed regional survey should bring the total expenditure to meet the license conditions to over AUD$30 million since SEL 13/98 was granted in 1998. As with the previous work program, TB01, the current work program is secured by a registered debenture held over the assets of GSLM.

Empire has plans to further define previously discovered dome structures that seismic amplitude anomalies indicate may have oil and gas potential. The results of the new surveys are expected to identify new target structures with the view of facilitating the company`s proposed discovery drilling program for oil and gas over the next four years.

[Zocker_Freak]

[posting]18.313.420 von iknowtheway am 17.10.05 16:43:32[/posting]Wurde heute auch empfohlen !!!