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Empire Resources (ASX:ERL) looks to advance projects after June quarter drilling

Highlights

  • Empire Resources has completed 2,474m of RC drilling at the Yuinmery project during the June quarter.
  • The Company has submitted the samples for analysis, and the results are anticipated to be received in the September quarter.
  • ERL is pleased with the progress of JV partners at Penny’s Gold Mine and remains well-funded to continue exploration across its portfolio.

Empire Resources Limited (ASX:ERL) has been continuing exploration and planning at its fully owned two highly prospective projects with excellent potential located in Western Australia.

During the June quarter ended 30 June 2021, ERL drilled numerous holes at various prolific deposits located across its Yuinmery Project. Also, Penny’s Find Gold Mine reported notable progress undertaken by the joint venture (JV) partners.

RELATED ARTICLE: Back to Back exploration success for Empire Resources Limited (ASX:ERL) at Penny’s Gold Project

Drilling at Yuinmery Project

At its Yuinmery Copper-Gold project, ERL conducted RC drilling targeting five high priority prospects during the June quarter. ERL concluded 18 RC holes in totality across the YT01, YT20, A Zone, Constantine and Smiths Well prospects.

Yuinmery Southern VMS Deposits, Prospects and Historical Drill Collar Locations (Source: ERL Announcement 19/07/21)

The Company collected samples and has submitted them to the laboratory for analysis. The results are anticipated to be received during the ongoing September quarter.

RELATED ARTICLEEmpire Resources (ASX:ERL) Reports Encouraging Gold Intercepts At Penny’s Gold Project

Currently, ERL is engaged in identifying further targets for drill testing within its tenement holding through progressing geochemical and geophysical studies.

In order to test the numerous proven targets, ERL had deployed a systematic exploration approach that includes first pass AC, infill AC and/or RC programs, as well as diamond drilling where results indicate the need for the same.

Expansion opportunity at A-Zone prospect

The A-Zone prospect suggests a possibility to expand the scale potential of the Project with mineralisation open in all directions.

A Zone Oblique Cross Section (Source: ERL Announcement 19/07/21)

During the quarter, ERL drilled three holes for 408m to test the potential for shallow high-grade copper mineralisation.

RELATED ARTICLEEmpire Resources Limited Calls the Tune in Its Significant Landholdings, A Walk Through Its Project Portfolio

The Company has collected and submitted the samples for analysis, and results are yet to be received.

Major intercepts at YT01

At the YT01 prospect, ERL intercepted a wide zone of Cu-Ni-PGM mineralisation through drilling undertaken during June 2020.

Best intercept of 20m @ 0.39% Cu, 0.11% Ni, 0.02% Co, 0.21g/t Pd & 0.07g/t Pt from 143m, including 12m @ 0.34g/t Pd & 0.11g/t Pt from 151m was returned from YRC20-28.

YT01 Prospect 687,250mE Cross Section (Source: ERL Announcement 19/07/21)

Further, the Company drilled a 250m RC hole below YRC20-28 for testing the continuity of mineralisation at depth.

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Smith Well Prospect

At the Smith’s Well – Copper-Nickel prospect, ERL has discovered zones of disseminated to matrix sulphide mineralisation through drilling to date.

Smith’s Well Historical Drill Collar Locations (Source: ERL Announcement 19/07/21)

During the quarter, the Company drilled four RC holes for 746m aimed at the North-East plunge and down-dip extensions of the structure.

The Company is awaiting results from the drilling, which are expected to be received in the September quarter.

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Key developments at Penny’s Gold Mine

ERL is entitled to receive royalty payments against the gold produced from Penny’s Gold Mine, which is operated as a JV between Horizon Minerals Ltd (ASX:HRZ) and Orminex Limited (ASX:ONX).

ERL believes that the JV helps in fast-tracking the resource definition and technical works in order to make a development decision during the ongoing quarter.  

The JV partners declared high-grade gold intercepts during the June quarter through RC and diamond drilling at the deposit, including the following:

Source: ERL Announcement 19/07/21

The JV partners have planned further activities at the deposit, and ERL looks forward to furthering the advancement of Penny’s deposit throughout the current year.

Bottomline

The Company is encouraged by the RC drilling completed at the Yuinmery project and seeks to secure results from the drilling as soon as possible. ERL believes that it is suitably funded to progress exploration across its entire portfolio. All eyes remain on results from the drilling at the Yuinmery project.

The ERL stock was noted at AU$0.011 on 25 August 2021.

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