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Empire Resources Ltd.
Summary
| Project: | Pennys Find | |
|---|---|---|
| Deposit: | Pennys Find | |
| Location: | Australia | |
| Commodities: | Gold-Arsenic | |
| Date: | 1/24/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 24-1-2020: Empire Resources Ltd. announces an Exploration/Drilling Update report for its Pennys Find deposit at the Pennys Find project. Drilling results incl. 8m @ 637ppb Au, 526ppm As from 48m. Empire Resources Limited (“Empire” or the “Company”) is ple | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Shane Tomlinson (Independent) | |
| ABSTRACT: | Empire Resources Limited (“Empire” or the “Company”) is pleased to report reconnaissance aircore drilling has returned strongly anomalous copper-gold mineralisation within the regolith across multiple prospects at the Company’s Yuinmery Copper-Gold Project. Results include 2m @ 3,707ppm Cu & 702ppb Au from 3m and 2m @ 4,043ppm Cu & 454ppb Au from 20m within a broad mineralised zone of 36m @ 3,482ppm Cu & 117ppb Au (YAC19-04 ) from surface at prospect YT19 and 2m @ 10,369ppm Cu from 4m within 12m @ 6,619ppm Cu (YAC19-34) from surface at prospect Marcus. Encouragingly the drilling indicates a new prospective horizon proximal to the Just Desserts deposit with a strike length of approximately 3.5km. These results demonstrate the potential to host multiple copper-gold deposits at Yuinmery and warrant follow up reverse circulation (RC) drilling to test the identified anomalism in the regolith for continuity at depth. Reconnaissance aircore drilling at the Company’s Penny’s Find Gold Project was successful in identifying several new zones of anomalous gold mineralisation, including 4m @ 1,021ppb Au from 56m in hole PAC19-40 at Area1. This intercept occurs with a broad 150m interpreted supergene envelope that is open in all directions. Broad arsenic anomalism, a pathfinder for gold, was encountered surrounding discrete gold mineralisation with assays returned up to 3,571ppm As at Area 2. Further RC drilling is warranted at Penny’s to test the extent of the identified gold anomalism in Area 1 and to test the arsenicgold association within the fresh rock horizon in Area 2. | |
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