Empire Resources (ASX:ERL) reports another busy quarter of fieldwork

Highlights

• During the quarter Empire Resources had intercepted massive sulphides at Smiths Well Prospect, and remaining assay results are yet to be received.  
• ERL intercepted sulphides at YT01 Prospect with broad zones of disseminated and vein pyrite-chalcopyrite sulphides intersected in diamond drillhole YDD22-01.  
• ERL observed a strong correlation of chromium to nickel and copper through analysis of the data at its Nanadie Project.

Empire Resources Limited (ASX:ERL) has reported a quite busy quarter ended 31 March 2022, with fieldwork being undertaken across the Company’s tenement.  

In February 2022, ERL concluded a 1,427m diamond drilling program at its Yuinmery Project to test high priority targets at Smiths Well, YT01 and Constantine prospects.  

The company remains well-financed with ample resources to continue executing its exploration and corporate objectives.  

Let us look at ERL’s developments during the quarter.  

RELATED ARTICLE: DHEM results enhance Empire Resources’ (ASX:ERL) understanding of Smiths Well conductor  

Results from Smiths Well Prospect  

At the Smiths Well Prospect, ERL intersected 30m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 276.1m downhole in diamond hole YDD22-02. This hole was designed to target a strong conductor modelled from downhole electromagnetic (DHEM) surveys completed in January 2022.  

Image Source: ERL Announcement 27/04/22

Source: ERL Announcement 27/04/22

ERL also received assay results for a priority batch of twenty samples, comprising 17.6m of the 30m massive to disseminated sulphide intercept in YDD22-02. The assay results comprised the following:  

• 17.6m @ 0.70% Cu, 0.21% Ni & 0.04% Co from 286m in YDD22-02
• including 2m @ 1.79% Cu, 0.18% Ni & 0.03% Co from 287m
• and 1m @ 1.09% Cu, 0.18% Ni & 0.04% Co from 294m.  

ERL is yet to receive results for the remaining 12.4m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides observed in YDD22-02 and other samples collected from Smiths Well.  

Subsequent to the quarter-end, ERL concluded a downhole geophysical survey of the Smiths Well Prospect, which defined a very high conductance modelled plate of >20,000S within the identified sulphide horizon. Through drilling, ERL plans to test the modelled plate down plunge of the 30m massive to disseminated sulphide intercepted in YDD22-02.  

RELATED ARTICLE: Empire Resources (ASX:ERL) undertakes major works across projects during 1H FY2022 

Drilling results from YT01 Prospect

During the quarter, ERL intersected a sequence of mafic-ultramafic intrusive rocks in diamond drilling at YT01 Prospect. The Company intersected two broad sulphidic zones encompassing 5-25% pyrite-chalcopyrite sulphides in diamond drillhole YDD22-01, including the following: 

• 21m of 5-25% pyrite-chalcopyrite sulphide domains intercepted within layered ultramafic from 239m  
• 10m of stockwork carbonate-quartz-pyrite-chalcopyrite veinlets in silicified basalt intercepted from 169m  

Source: ERL Announcement 27/04/22

Currently, the geology of the YT01 Prospect is not well understood, and ERL believes that the information for mineralisation gathered from diamond drillhole YDD22-01 shall help in future targeting at the YT01 Prospect.  

RELATED ARTICLE: Empire Resources (ASX:ERL) reports excellent results from diamond drilling at Smiths Well 

ERL expects to receive assay results in the June 2022 quarter from samples collected from YDD22-01.  

Soil assays returned from samples at Nanadie Project

During the quarter, results from the 1,537 reconnaissance soil samples gathered from the Nanadie Copper-Gold Project returned peak soil assays of up to 924ppm Ni, 1,388ppm Cr and 187ppm Cu in areas of outcropping ultramafic rock types.  

ERL also observed a strong correlation of chromium to nickel and copper through analysis of the data. Assays exceeding 300ppm Cr are believed to be anomalous, and the samples exceeding 600ppm Cr are believed to be highly anomalous.  

A review of data and interpretation has helped in identifying 17 specific targets and three broad target areas at the project. ERL has further planned a program of infill and extension soils to assess the limits of the anomalism in preparation for aircore drilling.  

Source: ERL Announcement 27/04/22  

RELATED ARTICLE: Have you tracked these 3 key developments from Empire Resources (ASX:ERL) in February 2022? 

Progress at Penny’s Find and ERL’s financial position

During the quarter, Horizon Minerals Ltd (ASX:HRZ) announced plans to complete mining studies on the Penny’s Find underground mine. Moreover, HRZ also expects Penny’s to potentially deliver into a sequence of underground mining projects.  

During the quarter, ERL incurred an expenditure of AU$418,000 and had cash on hand of AU$2,868,000 at the quarter’s end.  

RELATED ARTICLE: Empire Resources (ASX:ERL) identifies 17 new targets and three areas of interest at Nanadie  

ERL stock was noted at AU$0.010 on 27 April 2022.