Empire Resources (ASX:ERL) continues to impress with Yuinmery drilling results, shares skyrocket 22%

Highlights

• The shares of Empire Resources (ASX:ERL) were up significantly as the Company announced assay results for Yuinmery Project.
• ERL believes that the results are impressive and indicate an enhancement in mineralised thickness and copper grades at depth.
• ERL has reinitiated diamond drilling for targeting down plunge extents to mineralisation intercepted at both prospects.

The shares of Empire Resources Ltd. (ASX:ERL) zoomed up 22.22% to AU$0.011 during the early hours of trading today as the assay results from the March quarter drilling at Yuinmery continue to impress.

ERL announced assays results for the remaining 12.4m of the earlier reported 30m massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides. These sulphides were intersected from 276.1m downhole (YDD22-02) at Smiths Well prospect.

The Company has been upbeat after the encouraging results from the March quarter drilling at Yuinmery, and the latest results indicate an enhancement in mineralised thickness as well as copper grades at depth.

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Results for Smiths Well Prospect

ERL has received final assay results for diamond holes YDD22-02 from Smith Well and the full assay set for diamond hole YDD22-01 from YT01 Prospect at its Yuinmery project.

Smiths Well Oblique Cross Section YDD22-02 (Source: ERL Announcement 02/05/22)

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The latest results include assays for 12.4m of the 30m sulphides interval in YDD22-02 at Smiths Well. The full set of assays for the 30m sulphide interval in hole YDD22-02, comprising assays reported earlier in March 2022 include the following:

• 1m @ 0.60% Cu, 0.17% Ni & 0.034% Co from 276m in YDD22-02
• including 5m @ 1.15% Cu, 0.18% Ni & 0.027% Co from 284m
• and 1m @ 1.09% Cu, 0.18% Ni & 0.045% Co from 294m
• and 2m @ 1.11%Cu, 0.19% Ni & 0.040% Co from 304.1m

ERL defined a very high conductance modelled plate (> 20,000S) within the sulphide horizon through a downhole-electromagnetic (DHEM) survey that was executed on hole YDD22-03 in March 2022. Now, ERL has initiated drilling at Smiths Well, targeting the modelled plate down plunge to the massive-disseminated sulphides intercepted in YDD22-02.

Source: ERL Announcement 02/05/22

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Results for YT01 Prospect

At the YT01 Prospect, ERL has received assay results for two earlier reported broad sulphidic zones, including 5-25% pyrite chalcopyrite sulphides intersected in diamond drill hole YDD22-01.

• 3m @ 0.89% Cu & 0.12g/t Au from 172m, including 1m @ 1.49% Cu & 0.12g/t Au from 173m were returned from the upper sulphidic zone from 169m.
• 4m @ 0.56% Cu & 0.12g/t Au from 240.6m, including 3.9m @ 1.01% Cu & 0.13g/t Au from 240.6m were returned from the lower sulphidic zone from 239m.

A GSWA (Geological Survey of Western Australia) study was undertaken by Hassan, in 2014, into the mineralisation, metasomatism and geology of the historic volcanogenic massive sulphide prospects at Yuinmery. The study delivered interesting insights, including the indication for domains with cordierite-anthophyllite to be metasomatic in origin and to be possibly pathways along which hot hydrothermal fluids flowed, resulting in the Just Desserts mineralisation.

Photomicrographs of YDD22-01 (Source: ERL Announcement 02/05/22)

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ERL considers the similarities between YT01 and Just Desserts as highly encouraging, and it is important to identify possible fluid pathways at YT01 for the discovery of economic mineralisation.

Source: ERL Announcement 02/05/22

ERL’s current stance and forward plan

Currently, ERL has collected the final batch of samples from diamond holes YDD22-03 (Smiths Well) and YRCD21-21 (Constantine) and submitted them for laboratory analysis. As present the lab analysis turnaround times is 8 to 10 weeks from submission, the Company expects to receive assay results for the final batch during the June Quarter.

ERL has reinitiated drilling at Yuinmery, wherein a total of four holes for around 1,500m are planned. The drilling is targeting down plunge extents to intercepted mineralisation at YT01 and Smiths Well Prospects.

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ERL plans to gather and submit samples for petrographic analysis to characterise the host geology and sulphide mineralogy. ERL will also investigate petrophysical testing of drill core to help in augmenting geophysical techniques and refine data processing.

Going forward, ERL will continue to use geophysical surveys for planning and targeting drilling. These surveys are expected to begin as soon as a geophysical crew is available.