Zooming lens over Empire Resources’ (ASX: ERL) advances on gold and copper assets - Kalkine Media

Highlights

• Empire Resources is focused on exploring its highly prospective gold and copper projects.
• The Penny’s Gold Project has mineralisation interpreted to be similar to that at the neighbouring Garibaldi Deposit and Penny’s Find Gold Mine.
• The Yuinmery Project is host to the Just Desserts deposit with a resource of 2.52 million tonnes @ 1.31% copper, 0.49 gram per tonne gold and 1.76 gram per tonne silver.
• Recently, the company announced ‘excellent’ outcomes from drilling across the Yuinmery and Penny projects.

Empire Resources Limited (ASX: ERL) has been strengthening its business via exploration of its projects as well as building on value accretive investment actions which fall in line with the key goals of the company.  

Currently, the company owns four highly prospective projects– the Yuinmery Copper-Gold Project, Penny’s Gold Project, Barloweerie project, and the Nanadie Project.

Today, in this article, we will know more about the two gold projects which are 100% owned by ERL - Yuinmery and Penny.

Penny’s Gold Project

Located within the Gindalbie domain of the Gindalbie greenstone belt of the Archean Yilgarn Craton, Penny’s Gold Project has gold mineralisation which has been interpreted to be comparable to that at Horizon Minerals (ASX: HRZ) Penny’s Find Gold Mine and Platina Resources’ (ASX: PGM) Garibaldi Deposit.

The mineralised Penny’s Find Shear Zone stretches through E27/593 along with subparallel structures.

In March this year, Empire Resources received ‘excellent’ final drill assays from aircore drilling at the Penny’s gold project.

Data source: company update

For more details, click here.

Yuinmery Copper-Gold Project

The tenements of the Yuinmery Project span over 106.7 square kilometres of area, straddle the Paynes Find – Sandstone Road 475km northeast of Perth and 80km south of Sandstone. The project is host to the Just Desserts volcanogenic massive sulphide deposit (JORC 2012 compliant Resources of 2.52Mt @ 1.31% Cu, 0.49g/t Au and 1.76g/t Ag using a 0.5% Cu cut-off). Pyrite and pyrrhotite are the dominant sulphides in the mineralised zones and chalcopyrite, sphalerite, magnetite, molybdenite, silver, gold, nickel and bismuth are also reported to exist in the mineralised zones.

In early June quarter, the company reported "strong" copper and gold mineralisation at the Yuinmery project. The final assays received for reverse circulation drilling performed at the project in February this year delivered the following outcomes:

Data source: company update

To know more, you may click here.

 Empire Resources says that it remains well funded to advance further exploration endeavours across its projects.

 ERL shares were trading at AU$0.004 on 02 June 2023, with ERL's market cap over AU$4.45 million.