Major takeaways from Empire Resources’ (ASX: ERL) March Quarterly Report - Kalkine Media

Highlights

• Gold mineralisation within the Penny’s Gold Project is comparable to that at the Garibaldi Deposit (ASX:PGM) and Penny’s Find Gold Mine (ASX: HRZ), says the company.
• A drilling campaign was conducted at the prospect in January 2023 based on the strong gold mineralisation identified in the September 2022 AC drill campaign.
• Results for the 1m re-split assays from the September 2022 AC drilling confirmed the potential grade tenor and prospectivity of the Penny’s Gold Project.
• In February 2023, the Company completed a 924m RC drilling program at its Yuinmery Project in Western Australia.

ASX-listed gold and copper explorer Empire Resources (ASX: ERL) has released its March 2023 quarterly report for the three-month period ended 31 March 2023. During the period, ERL continued to conduct drilling campaigns at the Penny’s Gold Project with favourable gold results from AC drilling campaign. RC drilling also delivered to Yuinmery with a campaign targeting high-grade copper and gold mineralisation at the A-Zone and YT01 prospects.

The results of this drilling received after the close of the March quarter are very encouraging, with A-Zone developing into a near surface, high-grade copper-gold deposit and YT01 demonstrating the potential for a large tonnage copper system. To know more, read further!

Advances at Penny’s Gold Project

According to the Company, it has been interpreted that gold mineralisation within the Penny’s Gold Project is comparable to that at the Garibaldi Deposit (ASX:PGM) and Penny’s Find Gold Mine (ASX: HRZ).

The strong gold intercepts from drilling conducted in September 2022 was targeted during drilling completed in the March 2023 quarter.

The targets of the project are situated in proximity and along strike of the current

270,000t @ 4.99g/t Au for 43,000oz Resource at the Penny’s Find Gold Mine.

Penny’s Gold Project Base Image: Reduced to Pole North-East Shade Non-Linear Magnetics

PF09 Prospect Update

A drilling campaign was conducted at the prospect in January 2023 based on the strong gold mineralisation identified in the September 2022 AC drill campaign. Also, many AC lines that were drilled earlier have been extended to the east for testing the lateral extents to the prospect. The gold trend at PF09 continues in both north and south directions with anomalous gold mineralisation intersected in 63% of holes drilled.

Data source: Company update

Results from the AC drilling at PF09:

• 3m @ 0.99g/t Au from 36m in PAC23-15 (EOH) including 1m @ 1.90g/t Au from 38m (EOH)
• 24m @ 0.42g/t Au from 60m in PAC23-02 including 12m @ 0.68g/t Au from 64m
• 20m @ 0.62g/t Au from 72m in PAC23-05 including 4m @ 0.97g/t Au from 84m

ERL received strong gold mineralisation in end of hole assays from the drilling conducted on section 6,626,600mN along the southern limits of PF09, including 3m @ 0.99g/t Au from 36m in PAC23-15 (EOH), including 1m @ 1.90g/t Au from 38m (EOH). PAC23-16 also delivered bottom of hole gold mineralisation with 3m @ 0.28m Au from 40m (EOH).

Basalt was intersected with a local fine spinifex texture along with zones of black shale during drilling at PF09. The weathering profile ranged from 40 – 110m thick. A strong arsenic anomaly is generally associated with anomalous gold present in the Goldfields.

The bottom of hole gold mineralisation on section 6,626,600mN conforms strongly with bottom of hole gold mineralisation on section 6,626,700mN drilled by the Company during the September 2022 AC drill campaign. This gold mineralisation trend, along with localised shearing and strong arsenic anomalism demonstrates positive conditions for potential primary gold mineralisation.

During the March quarter, 1m re-split assays from the September 2022 AC drilling were also collected, assayed, and reported. Its results confirm the potential grade tenor and prospectivity of the Penny’s Gold Project.

• 6m @ 3.73g/t Au from 64m in PAC22-14 including 1m @ 8.47g/t Au from 65m and 1m @ 6.06g/t Au from 67m
• 2m @ 4.45g/t Au from 51m in PAC22-29 including 1m @ 5.49g/t Au from 51m
• 3m @ 2.37g/t Au from 56m in PAC22-50 including 1m @ 5.14g/t Au from 56m

Progress at Yuinmery Copper-Gold Project

In February 2023, the Company completed a 924m RC drilling program at its Yuinmery Project in Western Australia. It was based on Cu-Au assays within two broad pyrite-chalcopyrite sulphidic zones at the YT01 prospect and shallow, high-grade copper and gold at the A-Zone prospect. Both YT01 and A-Zone lie along strike of Empire’s Just Desserts deposit which hosts a current JORC 2012 Resource of 2.52Mt @ 1.31% Cu & 0.49g/t Au.

The Company received the results for the RC drilling campaign after the end of the March 2023 quarter. It marked the potential for the A-Zone and YT01 prospects. ERL is now looking forward to hold further drilling programs at Yuinmery.

Data source: Company update

ERL shares were trading at AU$0.005 on 28 April 2023, with ERL's market cap over AU$5.5 million.