Empire Resources (ASX:ERL) reports further massive sulphides at Smiths Well, shares zoom up 25%

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Empire Resources (ASX:ERL) reports further massive sulphides at Smiths Well, shares zoom up 25%

 Empire Resources (ASX:ERL) reports further massive sulphides at Smiths Well, shares zoom up 25%
Image source: © Adwo | Megapixl.com

Highlights

  • Shares of Empire Resources (ASX:ERL) zoomed up 25% on the back of impressive results from Smiths Well.
  • ERL has intersected 22.38m and 11.33m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 328.42m downhole and 386.12m downhole, respectively.
  • ERL is continuing drilling at the Yuinmery project and has significant upcoming work planned to be undertaken.

Empire Resources Limited (ASX:ERL) shares skyrocketed by 25% to AU$0.010 on Thursday after the company announced further massive sulphides from multiple drill holes at the Smiths Well.

Furthermore, a new copper-gold horizon below the highly conductive copper-nickel-cobalt horizon has also been identified.

ERL sulphide results

Source: ERL Announcement 19/05/22

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

Massive sulphides intersected in drill holes

In the latest set of results, ERL received the following key intersections from distinct drill holes at the Smiths Well prospect at its Yuinmery Project:

  • 38m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 328.42m in diamond drill hole YDD22-04
  • 33m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 386.12m in diamond drill hole YDD22-05

ERL sulphide results

Visible sulphides in YDD22-05 (Source: ERL Announcement 19/05/22) 

Through drill hole YDD22-04, ERL targeted the strong conductor modelled from downhole electromagnetic (DHEM) surveys concluded in March 2022. Moreover, hole YDD22-05 was designed to test the limits of the modelled DHEM conductor around 60m down plunge from YDD22-04.

ERL sulphide results

Visible Sulphides in YDD22-04 (Source: ERL Announcement 19/05/22) 

Strongly mineralised copper-gold horizon identified

In addition to the above results, ERL has also identified a strongly mineralised copper-gold horizon in hole YDD22-03. This hole is located below the highly conductive copper-nickel-cobalt horizon at the Smiths Well prospect.

Assay results from this hole returned copper >1%, including the following:

  • 10m @ 0.65% Cu & 0.10g/t Au from 253m, including
    • 7m @ 1.26% Cu & 0.20g/t Au from 255.3m
    • 9m @ 1.13% Cu & 0.15g/t Au from 258.7m
  • 1m @ 1.19% Cu & 0.23g/t Au from 314m

ERL sulphide results

Smiths Well long section (Source: ERL Announcement 19/05/2022)

While one of the intervals shows copper-nickel-cobalt chemistries similar to the highly conductive zone, the relationship between the two currently remains unclear.

Drilling continuing with further work planned

ERL has collected samples from YDD22-04 and YDD22-05 and submitted them for analysis, results are anticipated to be received during the June quarter. ERL has also concluded diamond drill hole YDD22-06 at Smiths Well, while logging of YDD22-06 is continuing.

The company is continuing drilling at Yuinmery, wherein drill hole YDD22-07 at YT01 is testing down-dip extensions to mineralisation intercepted in diamond drill hole YDD22-01. Subsequently, ERL plans to collect and submit samples for petrographic analysis to characterise the host geology and sulphide mineralogy.

ERL also looks to examine petrophysical testing of drill core for helping in optimising geophysical techniques and further enhancing data processing.

In order to plan and target drilling, ERL will continue to utilise geophysical surveys, including the use of DHEM (downhole electromagnetic). The company will kick off the geophysical surveys as soon as a geophysical crew is available.

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