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EMPIRE RESOURCES LIMITED — Investor Presentation 2011
Sep 14, 2011
64875_rns_2011-09-14_b49833af-96a3-49e3-8651-1f1ea17cc6c9.pdf
Investor Presentation
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Investor update – September 2011 Advanced exploration of copper-gold projects in WA
1
Disclaimer
This presentation is for information purposes only
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While the Information in this presentation has been prepared with due care, Empire :
(i) disclaims all responsibility for the contents of this presentation to the fullest extent
permitted by law, and
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, , .
Each recipient of this presentation must check the accuracy or otherwise of the materials contained in
this presentation.
Forward looking statements in this presentation may involve known and unknown risks and uncertainties,
be to factors outside the control of that the actual
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Information on Empire can be obtained from www.resourcesempire.com.au.
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an nor an or
any securities issue will take place. Any such offer or invitation will only be made (if at all) by a disclosure
document under the Corporations Act or by another document to exempt investors not requiring
disclosure under the Corporations Act.
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2
Highlights – “ERL”
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•
Primary focus -
advanced co pp er and g old p ro j ects in WA
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Major tenement position
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JORC Resource of 1.07 million tonnes
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at 1.82% copper and 0.78g/t gold
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,
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Outstanding new copper intercepts
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Highlights
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Successful track record since listing 2007 –
4 discoveries made
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Experienced management team
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Directors
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Tom Revy Chairman (Non-executive)
David Sar eant Mana in Director
g g g
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Adrian Jessup Executive Director – Technical
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4
About Empire
Capital Structure Shares on issue: ASX Code: ERL
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Source: Paritech
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Current Activities
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Development scoping
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commenced
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Resource expansion drilling at
100%-owned Yuinmery project
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Defining new resource, A Zone
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Drilling at other Yuinmery
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prospects
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Yuinmery Project
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Empire now is a major land holder (227km [2] )
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in the base metals rich but under explored Youanmi
greenstone belt
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Commanding position in copper dominated domain
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Yuinmery Project Greenstone Belts
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Tenement position in
emerging Youanmi
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base metal province
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M an n i di
1.35mt @ 0.25% Cu
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Yuinmery Project Location – comparative projects
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Yuinmery Project Location – comparative projects
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� – Golden Grove Project 19.1mt @ 3.1% Cu and 0.6g/t Au (0.5% Cu cut June 2009)
� : Jaguar Project Jaguar 0 . 8mt @ 4 . 2% Cu , . 8 8% Zn (Jul 2010), Bentley
3.04mt @ 2.0% Cu, 9.8% Zn and 0.7g/t Au (Nov 2010), Teutonic Bore
1.55mt @ 1.6% Cu, and 2.5% Zn (Aug 2009)
� Quinns Project – 1.48mt @ 1.02% Cu and 1.39% Zn
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Yuinmery Project Comparison of resources
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� Golden Grove Project – 19.1mt @ 3.1% Cu and 0.6g/t Au (0.5% Cu cut June 2009)
� : Jaguar Project Jaguar 0 . 8mt @ 4 . 2% Cu , . 8 8% Zn (Jul 2010), Bentley 3.04mt @ 2.0% Cu, 9.8% Zn and 0.7g/t Au (Nov 2010), Teutonic Bore
1.55mt @ 1.6% Cu, and 2.5% Zn (Aug 2009)
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Just Deserts Resource 1.07mt at 1.82% Cu and 0.8g/t Au (1% Cu cut-off)
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A-Zone Resource: ?
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–
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Quinns Project
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1.48mt @ 1.02% Cu and 1.39% Zn
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Yuinmery Project Original copper-gold prospects
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Yuinmery Project Expanded tenure
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Expanded tenement position
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Empire 100% 78 sq km
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La Manche Option 149 sq km
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TOTAL 227 sq km
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Yuinmery Project La Mancha Option Agreement
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•
Option agreement with La Mancha Resources to
acquire its interest in 149km [2 ] granted tenement holding
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.
Resources
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Favourable acquisition terms negotiated
� $150,000/annum minimum expenditure for 3 years, $750,000
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exercise price
� 2% net smelter royalty capped at $5,000,000 on any minerals
roduced
p
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Exceeded option expenditure after 18 months
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Just Desserts Prospect Existing JORC resource, long section
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Yuinmery Project Resource Expansion
� Just Deserts - JORC compliant resource and open at depth, significant drill result of 23m @ 2.68% Cu, 1.28g/t Au including 6m @ 7.42% Cu, 3.01g/t Au (YRC08-01)
- A- Zone – multi p le thick co pp er intersections,
19m @1.85 % Cu, 0.34g/t Au & 3g/t Ag
including 5m @ 4 . 4% Cu , . 0 35g/t Au & 7g/t Ag � A-Zone – emerging zinc results of 8m @ 4% Zn including 3m @ 8.2% Zn (YRC11-11)
- Trajan – 5m @ 3.1% Cu & 0.36g/t Au including 2m @ 6.1% Cu & 0.58g/t Au,
7m @ 1.09% Cu & 0.63g/t Au including 3m @ 1.53% Cu and 0.93g/t Au
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Just Desserts Prospect In-ground valuation
JORC compliant resource and open at depth
1.07 million tonnes @ 1.82% copper, 0.78g/t gold and 2 t s ilv e r O R g/ , 2.36% Copper Equivalent for 25 000 Copper Equivalent tonnes I n-groun d copper equ va en i l t va ua l ti on US$220M Based on copper price US$4.0/lb go ld pr ce i US$1800/ oz silver price US$40/oz
Potential 3 times increase down dip and along strike
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Just Desserts Prospect Expansion of resource within JORC
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Just Desserts Prospect Expansion of resource below
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Just Desserts Prospect Trajan definition, ?open pit potential
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A Zone Prospect
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A Zone Prospect Outstanding copper results
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[email protected]%Cu
in [email protected]%Cu
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[email protected]%Cu
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A Zone Prospect First zinc results
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[email protected]%Zn
In [email protected]%Zn
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A Zone Prospect Deeper Drilling
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Yuinmery Project Other targets being tested
� Numerous prospects with large coincident geochemical, geophysical anomalies indicative of a highly fertile VMS system with sparse drill coverage
- Requires systematic RAB, RC and diamond drilling
Examples
- Lorne Gossan – rock chips to 0.34% Cu, EM targets, previously poorly drilled to the south west
� YC14 - 2m @ 0 . 94% Cu and 5m @1 . 03g/t Au remains open along strike and down dip � C-Zone - 3.07m @ 3.09% Cu, and 0.2g/t Au and 0.44m @ 1.37% Cu, 0.18g/t Au � B-zone - shallow drilling encountered 40m @ 0.50% Cu from surface and open to the west (A-zone look a like) � Augustus 20.6m @ 0.32% Cu, 0.07g/t Au including 0.4m @ 3.44% Cu and 0.91g/t Au (A-zone look a like)
- Low grade wide platinum – palladium (Ni – Cu) at Constantine prospect
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Yuinmery Project Anomaly Compilation
Drill Depth (m)
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Yuinmery Project No environmental or heritage issues
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Other assets
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60% Pennys Find high grade
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shallow gold resource –
52,000ozs (318,000 tonnes @5.2
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g/t Au) close to Kalgoorlie
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Other assets
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60% Penn s Find hi h rade
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gold resource – 52,000ozs
(318,000 tonnes @5.2 g/t Au)
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45% Troy Creek project with
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incoming party spending $3M
to earn over 3 years.
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Other assets
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60% Penn s Find hi h rade
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gold resource – 52,000ozs
(318,000 tonnes @5.2 g/t Au)
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45% Troy Creek project with
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incoming party spending $3M
to earn over 3 years.
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28% equity in listed FYI
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uranium project
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Other assets
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60% Pennys Find high grade
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–
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(318,000 tonnes @5.2 g/t Au)
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45% Troy Creek project with
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to earn over 3 years.
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28% equity in listed FYI
Resources after disposal of
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uranium project
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Development Programme Six month schedule
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Yuinmery Project
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9000 metres RC
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2500 metres Diamond
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Commence scoping study
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Wynne Copper Project
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Summary
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Large ground position
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Focused developer
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History of exploration success
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Ri ht eolo ical settin g g g g
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High grade copper and gold
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Growth through resources expansion: Just Desserts
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Exploration upside on highly prospective targets: C-Zone
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Investment Case
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Large footprint within emerging base metals province
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Established quality resource and ex andin
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Upside through exploration success confirmed
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Additional exposure to advanced stage copper, gold
and uranium assets
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Sound and prudent management.
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Active successful explorer (Circa 70% of working capital
goes directly into the ground)
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Contact etad ils:
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Empire Resources Limited
53 Canning Highway
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08-9361-3100
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0438-690-699
Contact us at [email protected] or via our
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web site: resourcesempire.com.au
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Notes on the Yuinmery Resource
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A resource estimate for the Just Desserts prospect at Yuinmery was completed and announced to the market on 9 April 2009. There has been no change in the resource since that time. The
mineral resource by category to a depth of 250m below surface is reported below. The resource comprises no oxide mineralization, only transitional and fresh.
Just Desserts Classified Mineral Resources – March 2009
Hi g h assa y s have been cut to 9% Cu, 20 g /t Au and 10 g /t A g .
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Resource modelling consultants, Datageo, calculated a JORC compliant in situ resource estimate, utilising all drill hole information available on Prospecting Licence P57/1215 up to the end
of June 2008. The resource grade was estimated using ordinary kriging based on the drill hole data composited down hole to 1m intervals within constraining shapes representing the
mineralisation. Assumed specific gravity values used were:- transitional 2.7t/m3; fresh 3.2t/m3.
The information in this presentation concerning the Mineral Resources for the Penny’s Find Deposit and the Just Desserts Deposit at Yuinmery have 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 styles
of mineralization and types of deposit under consideration and qualifies as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reportin g of Exploration Results,
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Mineral Resources and Ore Reserves”. Mr Ball consents to the inclusion in the public release of the matters based on his information in the form and context in which it appears.
The information in this presentation that relates to Exploration Results has been compiled by Mr. David Ross B.Sc(Hons), M.Sc. who is an employee of the Company. He is a member of the
Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. He has sufficient experience which is relevant to the style of mineralization and type of deposit
under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves”. David Ross consents to the inclusion in the public release of the matters based on his information in the form and context in which it appears.
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Grade Category Tonnes Grade Grade Grade
g/t Cu% Au g/t Ag g/t
1%Cu cut-off Indicated 104,000 1.65 0.86 1.32
Inferred 966,000 1.84 0.77 2.12
TOTAL 1,070,000 1.82 0.78 2.06
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1.5%Cu cut-off Indicated 46,000 2.11 1.14 1.58
Inferred 536,000 2.34 0.92 2.68
TOTAL 582,000 2.33 0.93 2.61
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