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How is Empire positioned with its portfolio of highly prospective projects?

Highlights

  • Empire Resources owns three highly prospective projects located in the prolific regions of Western Australia.
  • The projects indicate exploration potential for the Company and have returned notable results from past work.
  • ERL looks forward to advancing these projects with significant activities planned to be undertaken in the future.

Empire Resources Limited (ASX:ERL) is a Western Australia-based gold and copper-focussed explorer and developer that fully owns three highly prospective projects. These projects comprise several exploration targets that indicate an outstanding potential for the Company.

Let us look at the prolific project portfolio of ERL.

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

Penny’s Gold Project

Located 50km east of Kalgoorlie, the Penny’s Gold Project lies within the north-northwest trending Gindalbie greenstone belt.

The mineralisation at the project occurs in a lower order northwest-trending shear that intersects a northerly trending structure, which is inferred to extend to the north across the project area.

Deposits, Prospects and Historical Drill Collar Locations at Penny’s Gold Project (Source: ERL Website)

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

A comprehensive geological review was undertaken at the project in the June 2019 quarter and involved various exploration and geological datasets.

Furthermore, drilling at the project has indicated a solid potential to host structurally controlled gold mineralisation.

Yuinmery Copper-Gold Project

Situated in the Mid-West region of WA, the Yuinmery Project comprises five granted tenements, out of which two are mining, and three are exploration and are together spread over an area of 84.5 km2.

During the June 2019 quarter, ERL conducted a comprehensive geological review of the project, which comprised data from historical exploration activities at the project and the database of drilling undertaken by ERL.

Yuinmery Southern VMS Deposits, Prospects and Historical Drill Collar Locations (Source: ERL Website)

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

ERL believes that the data shall help refine the current targets and identify new areas for detailed follow-up exploration.

Recently, ERL has undertaken many drilling campaigns at the project and now plans to undertake further exploration in the upcoming times.

Barloweerie Project (Zn-Pb-Ag-Au-Cu)

ERL was granted a 113km2 exploration licence that spans over a part of the Barloweerie greenstone belt. Historical exploration at the project has delivered highly anomalous Zn-Pb-Ag-Au-Cu mineralisation in a volcanogenic massive sulphide (VMS) setting.

 Barloweerie Project Tenements (Source: ERL Website)

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

The project has witnessed limited exploration to date, and RC and diamond drill holes intersected strong mineralisation in 1987.

The B1 Prospect at the project indicates potential for copper mineralisation to grow with depth, especially in the case of a discovery of a feeder pipe. On the basis of geochemical assays and proximity to a granitic intrusion immediately to the east, ERL believes that there is a possibility to discover gold-silver vein mineralisation.

Bottomline

ERL has several activities planned to be undertaken at its projects and has an experienced team of professionals to look after the exploration, development as well as financial operations of ERL. In the long-term, ERL aims to capture value from direct exploration in its current projects and discover value-accretive investment prospects that align with its development objectives.

RELATED ARTICLE: 3 Key Elements of Empire Resources Lucrative Investment Portfolio

The ERL stock was noted at AU$0.013 on 09 September 2021.

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