Empire Resources (ASX:ERL) reports final assays from AC drilling at Penny’s Gold Project - Kalkine Media

Highlights

• Empire Resources (ASX:ERL) has received the last batch of aircore drilling results for its Penny’s Gold Project.
• ERL’s exploration efforts continue to deliver strong gold mineralisation within prospective geological settings.
• The drilling has helped emphasise the possibility for the project to host numerous gold deposits.

Empire Resources Limited (ASX:ERL) has reported that all of the assay results from its recently completed air core (AC) drilling campaign at its fully-owned Penny’s Gold Project are with the company.

The assays reinforce the possibility for the project to host several gold deposits, and the results continue to deliver strong gold mineralisation within prospective geological settings.

Assays for the complete program now received

The Penny’s Gold Project is located 45km east of Kalgoorlie in Western Australia. The gold mineralisation at the project is interpreted to be similar to that seen at Penny’s Find Gold Mine (ASX:HRZ) and the Garibaldi Deposit (ASX:PGM).

ERL finalised 69 AC holes for 5,289m testing several gold prospects. These include earlier drilled AC gold anomalies, aeromagnetic structural trends as well as historic MMI anomalies.

ERL reported that the assays from the full drill program had delivered several anomalous and high-grade gold ±arsenic results throughout all the prospects that were tested.

© 2022 Kalkine Media® | Data Source: ERL  

Discoveries across four prospects

At the PF09 prospect, the ERL intersected basalt with a local fine spinifex texture and zones of black shale. Moreover, residual gold in saprolite was intersected in drillhole PAC22-26, and anomalous gold at the fresh rock interface was intersected across drillholes PAC22-27, and PAC22-29 to PAC22-33.

Basalt with a local fine spinifex texture similar to that witnessed at the PF09 was intersected at the PF06 prospect. Further, anomalous gold mineralisation at the fresh rock interface was also encountered, and the occurrence of an arsenic anomaly was also observed at PF06.

Source: ERL

Drilling at PF07 prospect intersected basaltic rocks with domains of mafic schist along with gold intersected at the regolith and at the end of hole lithology. Drilling also identified a patchy yet strong arsenic anomaly associated with a major part of PF07 drilling.

The latest drilling results for the PF04 prospect indicate the potential for a new zone of mineralisation related to black shale.

Key intercepts from the drilling program across these four prospects include the following:

© 2022 Kalkine Media® | Data Source: ERL

Way forward for ERL

ERL believes that further investigation is required for the several robust anomalous gold intersections across all four prospects. The prospects share similarities to the proximal Penny’s Find Gold Mine and the Garibaldi deposit, given the association of anomalous gold with extensive quartz veining, basaltic rocks, shale units and shear zones.

Going forward, ERL has planned numerous activities to be undertaken across projects, including resampling historic drilling as well as sampling select 1m intervals from the latest AC drilling. ERL also plans to undertake follow-up AC drilling to further boost and define anomalous mineralisation.

Besides this, RC drilling is also planned to test for primary mineralisation within the anomalous zones discovered through AC drilling.

ERL stock was noted at AU$0.007 on 02 November 2022.