- Empire Resources Limited has been advancing activities for the development of its Yuinmery Project and has received outstanding results from the drilling at the project.
- Exactly a year ago, ERL acquired additional tenements at Yuinmery Project from Evolution Mining Limited.
- A 3,000m reconnaissance drilling program aimed at testing several high priority targets was initiated in November 2019 and returned significant results.
- ERL’s Yuinmery Project has continuously delivered excellent exploration results through drilling activities and is ready for further exploration.
Mineral exploration and resources investment company, Empire Resources Limited (ASX:ERL) has several exploration targets with exceptional potential identified at its 100% owned highly prospective projects in the Eastern Goldfields of Western Australia.
The two highly prolific projects of ERL include the Yuinmery Copper-Gold Project and the Penny’s Gold Project, where the Company has been advancing activities for resource development and anticipates undertaking further exploration activities.
Here, we shall capture Empire Resources’ journey starting from the acquisition of additional tenements at Yuinmery Project till the latest outstanding results received from the drilling at the project.
Additional Tenements At Yuinmery Acquired
In September 2019, Empire Resources exercised its option to acquire the interest in Yuinmery tenements E57/681 and E57/1027 from Evolution Mining Limited (ASX:EVN). The decision came after spending considerable time for exploring and assessing the EVN Tenements adjoining Empire’s fully owned Yuinmery Project.
Yuinmery Project Tenements (Source: ASX Announcement 11/09/2020)
ERL had exercised its option to acquire the EVN Tenements in return for a 1.25% Net Smelter Royalty (NSR) payable on EVN’s earned part of the tenements, which was 91.89% at the time of acquisition. The outstanding 8.11% interest is a contributing interest that is held by another party.
Pleasingly, the tenements acquired from EVN offered a geological extension to Empire’s Yuinmery tenure as the Company has knowledge of the geological potential of the tenements. Moreover, the acquisition empowered ERL to explore extensions of its present copper-gold mineralisation, as well as explore geological targets discovered by the Company.
Commencement of Drilling And Positive Results
ERL commenced drilling at its Yuinmery Copper-Gold Project in November 2019 through a 3,000m reconnaissance drilling program that was aimed at testing several high priority targets discovered by the autonomous geological review of the ERL’s projects.
The drilling returned strongly anomalous copper-gold mineralisation within the regolith across multiple prospects at the Yuinmery Copper-Gold Project, including
Pleasingly, drilling highlighted a new prospective horizon proximal to the Just Desserts deposit and potential to host multiple copper-gold deposits at Yuinmery.
Overall, the reconnaissance drilling added several prospective targets to ERL’s portfolio and simultaneously offered a great deal of information regarding the interpretation and discovery of primary copper sulphide mineralisation at the project to ERL’s technical team.
New Cu-Au & Cu-Ni Prospects Established At Yuinmery
ERL concluded an eleven-hole reverse circulation (RC) drill program for 1,014m at the Yuinmery Copper-Gold Project that returned excellent results with strong copper-gold mineralisation, including
Furthermore, the 3.5km copper-gold horizon identified between YT01 and YT19 prospects continues to strengthen the potential for fresh discoveries in the project area through returning strong copper-gold mineralisation.
Excellent Results From Drilling At YT01 Prospect
ERL concluded a seven-hole RC drill program at the Yuinmery Copper-Gold Project to test for copper-gold sulphide mineralisation at YT01 and follow up on compelling results from the January RC drill program at Smith Well.
Broad copper-gold sulphide mineralisation within the newly identified southern horizon was indicated by the Step out RC drilling in March at YT01 and resulted from 4m composite sampling included the following:
Importantly, the encouraging results indicate the potential for discovery of new copper-gold deposits within the new southern horizon at YT01 prospect.
Excellent Cu-Ni-PGM Mineralisation In Drilling At Yuinmery
The Yuinmery Project has continuously delivered excellent exploration results with PGE’s observed in historically high concentrations to the west of the Smith Well Prospect. This, along with the existence of a wide zone of palladium and platinum metals at the YT01 Prospect strengthens ERL’s belief about the excellent opportunities for substantial discoveries offered by Yuinmery Project.
In due course, ERL seeks to progress further with the advancement of its exploration efforts at Yuinmery and seeks to capture value from direct exploration across its project portfolio. Furthermore, ERL is eager to identify value-adding investment opportunities that are in line with its development objectives and benefit its shareholders.
On 8 October 2020, ERL stock ended at $0.014, up by 16.67%, with a market capitalisation of $10.9 million.