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EMPIRE RESOURCES LIMITED

ASX: ERL

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Empire Resources Limited is an ASX listed and Perth based precious and base metal focused explorer and project developer. Excellent gold and copper results have been recorded to date in Western Australia.

Yuinmery Copper-Gold Project (100% Interest)

The Yuinmery copper-gold project is situated 475 km northeast of Perth, WA. It lies within the Archaean Youanmi Greenstone Belt and covers a synclinal sequence of chloritised felsic tuffaceous rocks, sulphide bearing chert horizons, gabbro, basalt and ultramafics.

During the quarter a 33 hole, 963m reconnaissance RAB drilling programme was completed in the Fitz Bore area located 4 km south of the Just Desserts prospect. This progamme was designed to test areas where previous exploration had outlined weak soil gold anomalies.

The RAB drilling was successful in locating three new areas of gold mineralization associated with quartz veining in gabbro returning intersections of 8m @ 0.51g/tAu from surface, 4m @ 0.62g/tAu from 24m and 7m @ 0.58g/tAu from 40m to EOH.

Penny's Find Gold Project (100% Interest)

At the Penny’s Find project the Company has identified a near surface resource of 314,000 tonnes @ 5.2g/t Au. The proximity of the deposit to Kalgoorlie, the current gold price in Australian dollar terms and the ability to mine a substantial portion of the resource by open pit methods enhances the value of this resource.

On 13th October 2009 the Company announced to the ASX it had secured an interest in a joint venture with Rubicon Resources Ltd whereby it may earn a 51% interest in Rubicon’s Mt McLeay tenements which lie adjacent to and along strike from Empire’s 100% owned Penny’s Find gold deposit.

Under the terms of the Mt McLeay Joint Venture, Empire must spend $220,000 within 18 months to earn a 51% interest in the 40 sq km of tenements that comprise the joint venture. At Rubicon Resources election, Empire may then earn a further 19% interest by expenditure of an additional $500,000 over twenty four months.

Several historical gold workings occur on the Mt McLeay tenements with previous shallow exploration drilling returning a number of significant intercepts. Intersections such as 4m @ 4.05g/tAu, 8m @ 1.15g/tAu and 8m @ 0.46g/tAu present immediate drill targets for the Company.

Troy Creek Copper - Gold - PGM Project (100% Interest)

The Troy Creek copper-gold-PGM project is situated 900km north east of Perth and 260 km north east of Wiluna. The Company's tenements cover an area of 522 sq km on the northern margin of the Palaeoproterozoic Earaheedy Basin. Previous exploration within the tenements has identified multi-element anomalous geochemistry in sedimentary rocks over a widespread area extending for over 20 km strike length. Within this area separate drill intersections of 1.5 metres @ 2.98% copper, 9.6metres @ 0.34% copper, and 8 metres @ 0.79 g/t PGM and gold have been obtained. The structural setting of the project area within the Stanley Fold Belt on the margin of the Archaean Yilgarn Craton is favorable for the development of several different styles of base metal and precious metal mineralization including iron oxide copper gold (IOCG) deposits.

Yarlarweelor Uranium Project (100% Interest Under Option

Empire Resources Ltd holds exploration licence E52/2095, which covers an area of 492sq km, situated 125 km north of Meekatharra in Western Australia. Previous exploration in this area undertaken prior to 1982, located numerous airborne radiometric anomalies and many rock samples assaying greater than 1,000ppm uranium. Percussion drilling of various targets identified primary uranium mineralization in the form of uraninite from six separate areas. These included intersections of 9m assaying 570 ppm uranium and 2m assaying 630 ppm uranium.

Two separate styles of uranium mineralization are present within the licence area. In the eastern part of the licence structurally controlled uranium mineralization in the Despair Granite is associated with potassic alteration. At Mica Bore uranium mineralization and anomalous gold is associated with pyrrhotite-actinolite rocks in the vicinity of radiometrically anomalous pegmatites. The geology and mineralization resembles the style evident at Rossing Mine in Namibia operated by Rio Tinto Limited.

Mine For

copper, gold, platinum group metals, iron ore, uranium

Location of operation(s)

Western Australia

Address

53 Canning Highway
Victoria Park, WA, AUSTRALIA

Phone

+61893613100

Email

Website


Last Updated

29/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.