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EMPIRE RESOURCES LIMITED — Capital/Financing Update 2022
May 18, 2022
64875_rns_2022-05-18_c00f1fe1-2c90-4673-9b90-c969ecb80527.pdf
Capital/Financing Update
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ASX Release
19 May 2022
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FURTHER MASSIVE SULPHIDES AT SMITHS WELL
HIGHLIGHTS
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- 22.38m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides intersected from 328.42m downhole (YDD22-04) at Smiths Well
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- 11.33m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides intersected from 386.12m downhole (YDD22-05) at Smiths Well
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- Strongly mineralised copper-gold horizon identified in YDD22-03 located below the highly conductive copper-nickel-cobalt horizon at Smiths Well
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Assay results from YDD22-03 returns copper >1%, including
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- 10m @ 0.65% Cu & 0.10g/t Au from 253m
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- inc 0.7m @ 1.26% Cu & 0.20g/t Au from 255.3m
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- and 0.9m @ 1.13% Cu & 0.15g/t Au from 258.7m
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1m @ 1.19% Cu & 0.23g/t Au from 314m
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Diamond drilling continues at Yuinmery Project
Empire Managing Director, Sean Richardson commented:
“Smiths Well continues to impress with further wide intercepts of massive and disseminated sulphides within the modelled DHEM conductor. Assay results have also identified a new copper-gold horizon below the highly conductive copper-nickel-cobalt horizon.
“The diamond drilling program continues at Smiths Well with hole YDD22-07 testing the down dip extents to copper mineralisation at the YT01 prospect. The Company looks forward to updating the market as results from the drilling becomes available.”
www.resourcesempire.com.au [email protected] 159 Stirling Highway, Nedlands WA 6009
t +61 (0) 8 6389 1032
EMPIRE RESOURCES LIMITED ACN 092 471 513 ASX: ERL
ASX Announcement 19 May 2022
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SUMMARY
Empire Resources (ASX:ERL, Empire) advises that it has intersected 22.38m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 328.42m in diamond drillhole YDD22-04 and 11.33m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 386.12m in diamond drillhole YDD22-05 at the Smiths Well prospect, Yuinmery.
Diamond hole YDD22-04 (Figure 1) was designed to target the strong conductor modelled from downhole electromagnetic (DHEM) surveys completed in March 2022[[1]] . The sulphide intercept is interpreted to be a down plunge extension to the Smiths Well mineralisation, where 30.1m @ 0.60% Cu, 0.17% Ni & 0.034% Co[[2]] was recently intersected in drillhole YDD22-02.
| Interval | Description |
|---|---|
| 328.42m – 332.25m | Massive sulphide (pyrrhotite-pyrite-chalcopyrite) |
| 332.25m – 338.6m | Semi-massive sulphide (pyrrhotite-pyrite-chalcopyrite) |
| 338.6m – 350.80m | Massive sulphide (pyrrhotite-pyrite-chalcopyrite) |
Table 1 – YDD22-04 Visual Sulphide Summary
Diamond hole YDD22-05 (Figure 1) was designed to test the limits of the modelled DHEM conductor approximately 60m down plunge from YDD22-04.
| Interval | Description |
|---|---|
| 386.12m – 390.40m | Massive sulphide (pyrrhotite-pyrite-chalcopyrite) |
| 390.40m – 392.30m | Disseminated and vein sulphide (pyrrhotite-pyrite-chalcopyrite) |
| 392.30m – 396.00m | Massive sulphide (pyrrhotite-pyrite-chalcopyrite) |
| 396.00m – 397.45m | Disseminated and vein sulphide (pyrrhotite-pyrite-chalcopyrite) |
Table 2 – YDD22-05 Visual Sulphide Summary
The massive to disseminated intercepts lie within an interpreted mafic sequence comprising coarse grained gabbroic rocks with very coarse grained (glomeroporphyritic) domains and horizons dominated by ferromagnesium minerals and dolerite. Basalt occurs in the footwall of the mineralisation. The highly conductive copper-nickel-cobalt horizon is interpreted to occur in the mafic sequence proximal to the basalt contact.
*Sulphide observations are preliminary in nature and estimates of sulphide minerals are visual only. Visual estimates of sulphide abundance are based on the Company’s sulphide field logging guideline (Table 3). Visual estimates of sulphide mineral abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory analysis is required to determine the widths and grades of visual sulphide estimates.
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EMPIRE RESOURCES LIMITED ASX: ERL
ASX Announcement 19 May 2022
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YDD22-03 Assay Results
Assay results for YDD22-03 drilled at Smiths Well during the March 2022 quarter have been received from Empire’s preferred commercial laboratory. YDD22-03 intercepted three zones of mineralisation.
Assay results include:
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- 1.25m @ 0.20% Cu, 0.21% Ni & 0.041% Co from 215.35m
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- 10m @ 0.65% Cu & 0.10g/t Au from 253m
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- including 0.7m @ 1.26% Cu & 0.20g/t Au from 255.3m
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- and 0.9m @ 1.13% Cu & 0.15g/t Au from 258.7m
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- 2m @ 0.80% Cu & 0.17g/t Au from 313m
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including 1m @ 1.19% Cu & 0.23g/t Au from 314m
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Figure 1 – Smiths Well Long Section
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ASX Announcement 19 May 2022
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The upper copper-nickel-cobalt horizon intercepted at 215.35m is associated with semimassive sulphide, primarily fine pyrrhotite with lesser pyrite and chalcopyrite similar to the highly conductive copper-nickel-cobalt zone. While this interval has copper-nickel-cobalt chemistries similar to the highly conductive zone the relationship between the two is unclear at present.
The strongly mineralised 10m @ 0.65% Cu & 0.10g/t Au from 253m (Figure 2) is considered to be a separate copper-gold horizon located below the highly conductive copper-nickelcobalt horizon. The intersection occurs within a broader 18m wide zone of copper anomalism. Chalcopyrite is the main sulphide mineral present, occurring as net textured and disseminations in quartz-carbonate-sericite-pyrite veins hosted in Gabbro.
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Figure 2 – YDD22-03 (Tray 60), 251.80m – 256.48m: disseminated and vein chalcopyrite in Gabbro
The third mineralised zone from 313m is associated with fine crackle brecciation with silicacarbonate matrix, silicification and aggregates of fine magnetite in a ferromagnesium section of the gabbro. Chalcopyrite is the main sulphide mineral and predominately occurs within the mafic clasts as disseminations or net textured. Mineralisation is likely the result of brittle deformation in the less ductile lithologies.
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Figure 3 – Visible Sulphides in YDD22-04 from 322.71m to 350.59m (Trays 71-82)
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Figure 4 – Visible Sulphides in YDD22-05 from 380.98m to 397.56m (Trays 90 – 93)
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Figure 5 – March 2022 DHEM Conductor & Drill Collars Base Image RTP_Eagcs50nl
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ASX Announcement 19 May 2022
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FORWARD PLAN
Samples from YDD22-04 and YDD22-05 have been collected and submitted for laboratory analysis. Assay results from the YDD22-04 and YDD22-05 batch of samples is anticipated to be received during the June Quarter.
Diamond drillhole YDD22-06 at Smiths Well has also been completed, targeting the down dip extents to the modelled DHEM plate conductor and to test for the presence of the new coppergold horizon identified in diamond hole YDD22-03. Logging of YDD22-06 is ongoing.
Drilling continues at Yuinmery with drill hole YDD22-07 at YT01 testing down dip extensions to mineralisation intercepted in diamond drillhole YDD22-01[[2]] .
Samples will be collected and submitted for petrographic analysis to characterise the host geology and sulphide mineralogy. The Company will also investigate petrophysical testing of drill core to assist in optimising geophysical techniques and further refine data processing.
Geophysical surveys, including the use of downhole electromagnetic (DHEM) will continue to be used to plan and target drilling. Geophysical surveys will commence as soon as a geophysical crew is available.
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EMPIRE RESOURCES LIMITED ASX: ERL
ASX Announcement 19 May 2022
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This announcement is authorised for release by:
Sean Richardson
Managing Director
For further information on the Company Phone: +61 (0)8 6389 1032 www.resourcesempire.com.au
Additional Information
Further details relating to the information in this release can be found in the following ASX announcements:
-
ASX:ERL “ Strong DHEM Responses at Smiths Well (Amendment) ” 6 May 2022
-
ASX:ERL “ Assay Results from Yuinmery Project ” 2 May 2022
| Sulphide Mode | Percentage Range |
|---|---|
| Massive | >80% |
| Semi-Massive & Matrix | 40-80% |
| Net-Textured | 20-40% |
| Matrix | 20-40% |
| Heavily Disseminated | 10-40% |
| Disseminated & Blebby | 1-10% |
| Trace | <1% |
Table 3 – Sulphide Field Logging Guideline
*Visual estimates of sulphide abundance are based on the Company’s sulphide field logging guideline (Table 3). Visual estimates of sulphide mineral abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory analysis is required to determine the widths and grades of visual sulphide estimates.
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Competent Person Statements
The information in this report that relates to Exploration Results is based on information compiled and/or reviewed by Mr Mark Shelverton, who is a Member of the Australian Institute of Geoscientists. Mr Shelverton is a full-time employee of Empire Resources and has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Shelverton consents to the inclusion in this presentation of the matters based on this information in the form and context in which they appear.
The information is this release concerning the Mineral Resources for the Just Desserts deposit has been estimated by Mr Peter Ball B.Sc who is a director of DataGeo Geological Consultants and is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Ball has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and qualifies as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Ball consents to the inclusion in this public release of the matters based on his information in the form and context in which it appears.
New Information
Information concerning the current mineral resource estimate relating to the Just Desserts deposit is extracted from the ASX Announcement dated 17 May 2016.
Empire Resources Limited confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Resource estimate in the relevant market announcement continue to apply and have not materially changed. Empire Resources Limited confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.
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EMPIRE RESOURCES LIMITED ASX: ERL
ASX Announcement 19 May 2022
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About Empire
Empire Resources Limited (ASX:ERL) is a gold and copper focussed exploration and development company. Empire owns four highly prospective projects. The Yuinmery CopperGold Project 470km northeast of Perth in the Youanmi Greenstone Belt, the Barloweerie multielement precious and base metal project, the Nanadie Copper-Gold Project southeast of Meekatharra in the Murchison Region and the Penny’s Gold Project 45km northeast of Kalgoorlie in the prolific Eastern Goldfields Region of Western Australia. Empire’s projects have numerous exploration targets with excellent potential.
Empire has an experienced team of exploration, development and financial professionals who are committed to developing a sustainable and profitable mineral business. Empire seeks to extract value from direct exploration of its existing projects as well as identifying value accretive investment opportunities that complement the Company’s development objectives.
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Empire Resources Project Location
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ASX Announcement 19 May 2022
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| Hole ID East North RL Depth Az Dip |
|
|---|---|
| Smiths Well | YDD22-03 688,835 6,837,272 455 330.5 135 -60 |
| YDD22-04 688,775 6,837,300 455 402.3 135 -60 |
|
| YDD22-05 688,750 6,837,357 455 426.3 135 -60 |
|
| YDD22-06 687,250 6,835,625 455 456.3 135 -60 |
|
| YT01 | YDD22-07 687,250 6,835,625 462 350* 180 -60 |
Table 4 – Diamond Drillhole Summary
- Planned depth
| Prospect | Hole ID Fr. (m) To (m) Int. (m) Cu (%) Au (g/t) Ni (%) Co (ppm) S (%) Fe (%) |
|---|---|
| Smiths Well | YDD22-03 213.55 214 0.45 0.20 0.23 296 12.64 29.39 |
| 215.35 216.6 1.25 0.20 0.21 412 14.09 27.94 |
|
| 251 263 12 0.54 0.09 0.69 6.56 |
|
| inc 253 263 10 0.65 0.10 0.77 7.87 |
|
| inc 255.3 256 0.7 1.26 0.20 1.44 7.61 |
|
| and 258.7 259.6 0.9 1.13 0.15 1.32 7.89 |
|
| 308.42 309.2 0.78 0.43 0.10 0.58 5.94 |
|
| 311 312 1 0.30 0.11 0.48 8.43 |
|
| 313 315 2 0.80 0.17 0.91 9.43 |
|
| inc 314 315 1 1.19 0.23 1.30 9.64 |
Table 5 – Relevant Diamond Drilling Assay Results – Smiths Well
Note. Downhole intervals use a nominal cut off >2,000ppm Cu
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JORC TABLE 1 FOR THE YUINMERY PROJECT
Section 1 Sampling Techniques and Data
| Criteria | JORC Code Explanation | JORC Code Explanation | Commentary | Commentary |
|---|---|---|---|---|
| Sampling | • | Nature and quality of sampling (eg | • | Samples collected from diamond core at |
| techniques | cut channels, random chips, or | interval lengths from 0.2m-1.2m | ||
| specific specialised industry | (commonly 1.0m). Lithology, geological | |||
| standard measurement tools | boundaries, sulphide content, alteration | |||
| appropriate to the minerals under | and structure are considered in | |||
| investigation, such as down hole | determining sample intervals. | |||
| gamma sondes, or handheld XRF | • | Core selected for sampling is cut in half, | ||
| instruments, etc). These examples | with one half sent for assay analysis and | |||
| should not be taken as limiting the | the remaining half retained. | |||
| broad meaning of sampling | • | Samples are submitted to Intertek | ||
| • | Include reference to measures taken | Laboratories, Maddington for multi- | ||
| to ensure sample representivity and | element and Au analysis using acid digest | |||
| the appropriate calibration of any | and aqua regia methods | |||
| measurement tools or systems used. | ||||
| • | Aspects of the determination of | |||
| mineralisation that are Material to | ||||
| the Public Report. | ||||
| • | In cases where ‘industry standard’ | |||
| work has been done this would be | ||||
| relatively simple (eg ‘reverse | ||||
| circulation drilling was used to obtain | ||||
| 1 m samples from which 3 kg was | ||||
| pulverised to produce a 30 g charge | ||||
| for fire assay’). In other cases more | ||||
| explanation may be required, such | ||||
| as where there is coarse gold that | ||||
| has inherent sampling problems. | ||||
| Unusual commodities or | ||||
| mineralisation types (eg submarine | ||||
| nodules) may warrant disclosure of | ||||
| detailed information | ||||
| Drilling | • | Drill type (e.g. core, reverse | • | Diamond drilling from surface to end of |
| Techniques | circulation, open-hole hammer, | hole. | ||
| rotary air blast, auger, Bangka, | • | Downhole surveys using Axis Champ | ||
| sonic, etc) and details (e.g. core | Gyro | |||
| diameter, triple or standard tube, | • | Core orientation using orientation tool kit | ||
| depth of diamond tails, face- | • | HQ2 diameter core from surface until | ||
| sampling bit or other type, whether | competent fresh rock encountered, HQ3 | |||
| core is oriented and if so, by what | triple-tube used on occasions | |||
| method, etc). | • | NQ2 diamond core is drilled from | ||
| competent fresh rock to end of hole | ||||
| Drill sample | • | Method of recording and assessing | • | Diamond drilling used as the most |
| recovery | core and chip sample recoveries | effective drill method in reducing | ||
| and results assessed. | contamination, preserving geology. | |||
| • | Measures taken to maximise sample | • | Where core loss is encountered it is | |
| recovery and ensure representative | marked by the driller on the core block | |||
| nature of the samples. | and verified by Empire personnel | |||
| • | Whether a relationship exists | |||
| between sample recovery and grade | ||||
| and whether sample bias may have |
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| occurred due to preferential | ||||
|---|---|---|---|---|
| loss/gain of fine/coarse material. | ||||
| Logging | • | Whether core and chip samples | • | All drilling is geologically logged in the |
| have been geologically and | field by a qualified geologist. Lithological | |||
| geotechnically logged to a level of | and mineralogical data was recorded for | |||
| detail to support appropriate Mineral | all drill holes using a coding system | |||
| Resource estimation, mining studies | developed specifically for the Project. | |||
| and metallurgical studies. | Primary and secondary lithologies are | |||
| • | Whether logging is qualitative or | recorded in addition to colour, grain size, | ||
| quantitative in nature. Core (or | alteration type and intensity, estimates of | |||
| costean, channel, etc) photography. | mineral quantities. | |||
| • | The total length and percentage of | • | Geological logging is qualitative in nature. | |
| the relevant intersections logged. | ||||
| Sub-sample | • | If non-core, whether riffled, tube | • | No sub sampling undertaken |
| techniques and | sampled, rotary split, etc and | |||
| sample | whether sampled wet or dry. | |||
| preparation | • | For all sample types, the nature, | ||
| quality and appropriateness of the | ||||
| sample preparation technique. | ||||
| • | Quality control procedures adopted | |||
| for all sub-sampling stages to | ||||
| maximise representivity of samples. | ||||
| • | Measures taken to ensure that the | |||
| sampling is representative of the in | ||||
| situ material collected, including for | ||||
| instance results for field | ||||
| duplicate/second-half sampling. | ||||
| • | Whether sample sizes are | |||
| appropriate to the grain size of the | ||||
| material being sampled. | ||||
| Quality of | • | The nature, quality and | • | The assaying and laboratory procedures |
| assay data and | appropriateness of the assaying and | used are appropriate for the material | ||
| laboratory | laboratory procedures used and | tested. | ||
| tests | whether the technique is considered | • | Sampling was guided by Empire’s QAQC | |
| partial or total. | procedures. | |||
| • | For geophysical tools, | • | Certified analytical standards and blanks | |
| spectrometers, handheld XRF | comprise approximately 5% of samples | |||
| instruments, etc, the parameters | submitted for analysis | |||
| used in determining the analysis | • | The laboratory will also carry out its own | ||
| including instrument make and | internal QAQC checks including | |||
| model, reading times, calibrations | duplicates taken from the submitted | |||
| factors applied and their derivation, | samples. | |||
| etc. | ||||
| • | Nature of quality control procedures | |||
| adopted (e.g. standards, blanks, | ||||
| duplicates, external laboratory | ||||
| checks) and whether acceptable | ||||
| levels of accuracy (i.e. lack of bias) | ||||
| and precision have been | ||||
| established. | ||||
| Verification of | • | The verification of significant | • | The drill program was completed under |
| sampling and | intersections by either independent | guidance of the listed CP who is a full- | ||
| assaying | or alternative company personnel. | time employee of Empire. | ||
| • | The use of twinned holes. | • | No twin holes were drilled | |
| • | Documentation ofprimary data, data |
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| entry procedures, data verification, | • | Geological logs and sampling data were | ||
|---|---|---|---|---|
| data storage (physical and | recorded into excel spreadsheet | |||
| electronic) protocols. | templates on a laptop. These files were | |||
| • | Discuss any adjustment to assay | compiled and loaded into an Access | ||
| data. | database. | |||
| • | No adjustment to assay data was carried | |||
| out unless noted. | ||||
| • | The samples are selected based on the | |||
| geological logging. | ||||
| Location of | • | Accuracy and quality of surveys | • | Collars were initially surveyed by Empire |
| Data points | used to locate drillholes (collar and | Resources personnel using a hand-held | ||
| down-hole surveys), trenches, mine | GPS which has an estimated accuracy of | |||
| workings and other locations used in | +/- 5m | |||
| Mineral Resource estimation. | • | Hole locations are surveyed with a DGPS | ||
| • | Specification of the grid system | unit soon thereafter | ||
| used. | • | The grid system used for the location of | ||
| • | Quality and adequacy of topographic | all drill holes is GDA94 MGA Zone 50 | ||
| control. | • | Surface elevation is adjusted using points | ||
| surveyed by DGPS and reported when | ||||
| appropriate. | ||||
| Data spacing | • | Data spacing for reporting of | • | Drill holes were generally spaced at 50m |
| and | Exploration Results. | across lines spaced between 75m and | ||
| distribution | • | Whether the data spacing and | 50m. | |
| distribution is sufficient to establish | • | The hole spacing provided good | ||
| the degree of geological and grade | coverage along the drill line. | |||
| continuity appropriate for the Mineral | • | This drilling is reconnaissance in nature | ||
| Resource and Ore Reserve | and not of adequate density which to | |||
| estimation procedure(s) and | generate a Mineral Resource. | |||
| classifications applied. | ||||
| • | Whether sample compositing has | |||
| been applied. | ||||
| Orientation of | • | Whether the orientation of sampling | • | Holes were drilled approximately |
| data in relation | achieves unbiased sampling of | orthogonal to the modelled DHEM | ||
| to geological | possible structures and the extent to | modelled plate | ||
| structure | which this is known, considering the | • | The direction of sampling is not | |
| deposit type. | considered to bias results | |||
| • | If the relationship between the | |||
| drilling orientation and the | ||||
| orientation of key mineralised | ||||
| structures is considered to have | ||||
| introduced a sampling bias, this | ||||
| should be assessed and reported if | ||||
| material. | ||||
| Sample | • | The measures taken to ensure | • | Chain of custody is managed by Empire |
| Security | sample security. | Resources | ||
| • | Drill core is collected daily from the drill | |||
| rig and brought back to the Yuinmery | ||||
| Station for logging and storage. | ||||
| • | Core for sampling is transported by road | |||
| to Perth by Empire Resources personnel. | ||||
| • | Core is cut and sampled by Empire | |||
| Resources personnel in Perth | ||||
| • | Samples are delivered by road directly to | |||
| the laboratory by Empire Resources | ||||
| personnel |
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| Audits or | • | The results of any audits or reviews | • |
|---|---|---|---|
| reviews | of sampling techniques and data. |
The program is managed, and data processed by the competent person who is an employee of Empire.
Section 2 Reporting of Exploration Results
| Criteria | **JORC Code explanation ** | **JORC Code explanation ** | Commentary | Commentary |
|---|---|---|---|---|
| Mineral | • | Type, reference name/number, | • | The project consists of six granted |
| tenement and | location and ownership including | tenements (two mining and four | ||
| land tenure | agreements or material issues with | exploration), for a total area of 106.7 km2 | ||
| status | third parties such as joint ventures, | • |
Mining tenements; M57/265 and M57/636 | |
| partnerships, overriding royalties, | and exploration tenement; E57/1037 and | |||
| native title interests, historical sites, | E57/1159 are 100% owned by Empire | |||
| wilderness or national park and | • | Exploration tenements are; E57/681 and | ||
| environmental settings. | E57/1027 are 91.89% owned by Empire | |||
| • | The security of the tenure held at | and are subject to a Net Smelter Royalty | ||
| the time of reporting along with | (NSR) of 1.25% | |||
| any known impediments to | ||||
| obtaining a licence to operate in | ||||
| _the area. _ | ||||
| Exploration done | • |
Acknowledgment and appraisal of | • | Western Mining Corporation Ltd |
| by other parties | exploration by other parties. | commenced base metal exploration in | ||
| the area in 1969 and continued until | ||||
| 1981. Soil sampling, ground magnetics, | ||||
| IP and EM were exploration methods | ||||
| used to target their vacuum, percussion | ||||
| and diamond drilling programs. | ||||
| • | Esso Australia Ltd explored the area | |||
| between 1979 and 1984 using EM, RAB | ||||
| and diamond drilling in the search for | ||||
| Golden Grove - Scuddles type base metal | ||||
| deposits. | ||||
| • | Black Hill Minerals Ltd explored part of | |||
| the area for base metals between 1986 | ||||
| and 1991. This involved rock chip | ||||
| sampling and limited percussion drilling. | ||||
| • | Meekal Pty Ltd commenced an | |||
| exploration program in 1985 by | ||||
| remapping parts of the syncline and rock | ||||
| chip sampling. In 1986 Meekal introduced | ||||
| Arboyne NL into the project who carried | ||||
| out gold exploration by drilling reverse | ||||
| circulation holes under old gold workings. | ||||
| • | Between 1989 and 1991 RGC Exploration | |||
| Pty Ltd explored the area concentrating | ||||
| on the potential for gold mineralization. | ||||
| This exploration consisted of geological | ||||
| mapping, rock chip sampling and some | ||||
| RAB drilling. | ||||
| • | In 1992 Meekal Pty Ltd joint ventured the | |||
| project to Giralia Resources NL, who | ||||
| brought in CRAE as a partner in1993. | ||||
| CRAE completed a ground EM survey | ||||
| and drilled three diamond holes in its | ||||
| search forbasemetals. |
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ASX Announcement 19 May 2022
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| • | Gindalbie Gold NL then explored the area | |||
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| for gold between 1995 and 2000. This | ||||
| work entailed a wide spaced soil | ||||
| sampling program but although several | ||||
| anomalous zones were identified no | ||||
| drilling was undertaken. | ||||
| • | Mineral Resources Australia / La Mancha | |||
| explored the northern end of the project | ||||
| area between 2002 and 2010 completing; | ||||
| extensive soil sampling (Auger), | ||||
| reconnaissance (RAB / Aircore) drilling | ||||
| and geophysical surveys (VTEM and | ||||
| aeromagnetic surveys). | ||||
| • | Empire Resources Ltd commenced | |||
| exploration in the area during 2006. To | ||||
| date a number of RAB, RC and diamond | ||||
| drilling programmes have been | ||||
| completed as well as aerial, surface and | ||||
| downhole electromagnetic (EM) surveys. | ||||
| Geology | • | Deposit type, geological setting | • | The Yuinmery project area covers the |
| and style of mineralisation. | eastern portion of the Archaean Youanmi | |||
| greenstone belt with rock types | ||||
| consisting largely of altered mafic and | ||||
| ultramafic volcanic and intrusive rocks | ||||
| with chloritic felsic and intermediate | ||||
| volcanic units. The volcanic units contain | ||||
| several intercalated strongly sulphidic | ||||
| cherty sediments which are host to VMS | ||||
| copper-gold mineralization. In the project | ||||
| area these rocks lie on the eastern side of | ||||
| the regional Youanmi Fault and form the | ||||
| southern closure of a northerly plunging | ||||
| syncline. | ||||
| The volcanic rocks have been intruded by | ||||
| dolerites, gabbros, pyroxenites and other | ||||
| ultramafic rocks which probably form part | ||||
| of the layered Youanmi Gabbro Complex. | ||||
| Several zones of copper - gold | ||||
| mineralization have been identified within | ||||
| the project area by previous surface | ||||
| sampling and drilling. The volcanogenic | ||||
| massive sulphide style mineralization is | ||||
| associated with cherts, felsic volcanic | ||||
| breccias and tuffs. | ||||
| • | Gold mineralisation is interpreted to be | |||
| associated with lower order shears | ||||
| subsidiary to either the Youanmi or | ||||
| Yuinmery Shear zones. Gold sits in sub- | ||||
| vertical shears, and forms narrow, steep | ||||
| plunging high grade shoots at minor | ||||
| flexures in the shears as quartz-sulphide | ||||
| lodes. | ||||
| Drill hole | • | A summary of all information | • | Hole locations are tabulated along with |
| Information | material to the understanding of | accompanying collar location diagrams | ||
| the exploration results including a | within this report | |||
| tabulation of the following |
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EMPIRE RESOURCES LIMITED ASX: ERL
ASX Announcement 19 May 2022
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| information for all Material | ||||
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| drillholes: | ||||
| • | easting and northing of the | |||
| drillhole collar | ||||
| • | elevation or RL (elevation above | |||
| sea level in metres) of the drillhole | ||||
| collar | ||||
| • | dip and azimuth of the hole | |||
| • | down hole length and interception | |||
| depth | ||||
| • | hole length. | |||
| Data aggregation | • | In reporting Exploration Results, | • | Data was compiled using excel |
| methods | weighting averaging techniques, | spreadsheets and loaded into an Access | ||
| maximum and/or minimum grade | database. | |||
| truncations (e.g. cutting of high | • | The data was audited using QGIS and | ||
| grades) and cut-off grades are | Surpac data auditing features. | |||
| usually Material and should be | • | A nominal cut-off grade of 2,000ppm Cu | ||
| stated. | and 100ppb Au have been applied to the | |||
| assayresults, unlessnoted. | ||||
| Relationship | • | If the geometry of the | • | Broad anomalous copper envelopes have |
| between | mineralisation with respect to the | been interpreted from the drilling | ||
| mineralisation | drillhole angle is known, its nature | completed. Exact widths and geometry | ||
| widths and | should be reported. | are still to be determined, so all intercepts | ||
| intercept lengths | • | If it is not known and only the down | are reported as downhole intervals. | |
| hole lengths are reported, there | ||||
| should be a clear statement to this | ||||
| _effect. _ | ||||
| Diagrams | • | Appropriate maps and sections | • | Diagrams are included within the report |
| (with scales) and tabulations of | ||||
| intercepts should be included for | ||||
| any significant discovery being | ||||
| reported These should include, but | ||||
| not be limited to a plan view of | ||||
| drillhole collar locations and | ||||
| _appropriate sectional views. _ | ||||
| Balanced | • | Where comprehensive reporting of | • | All data from the program is provided in |
| reporting | all Exploration Results is not | the report | ||
| practicable, representative | ||||
| reporting of both low and high | ||||
| grades and/or widths should be | ||||
| practiced to avoid misleading | ||||
| _reporting of Exploration Results. _ | ||||
| Other | • | Other exploration data, if | • | Not applicable |
| substantive | meaningful and material, should be | |||
| exploration data | reported including (but not limited | |||
| to): geological observations; | ||||
| geophysical survey results; | ||||
| geochemical survey results; bulk | ||||
| samples – size and method of | ||||
| treatment; metallurgical test | ||||
| results; bulk density, groundwater, | ||||
| geotechnical and rock | ||||
| characteristics; potential | ||||
| deleterious or contaminating | ||||
| _substances. _ |
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EMPIRE RESOURCES LIMITED ASX: ERL
ASX Announcement 19 May 2022
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| Further work • The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • A full review of results will be undertaken prior to planning and execution of future programs • Reconnaissance drilling programs planned to test high priority target areas. • Soil and rock sampling programs • Prospect scale mapping • Reinterpretation of geophysical data, including EM and aeromagnetic / radiometric data • RC and diamond drilling • Geophysical surveys |
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EMPIRE RESOURCES LIMITED ASX: ERL