| Announcement Date: | 2022-11-02 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Empire Resources Ltd. |
| Project name: | Penny’s |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 4m at 2.41g/t Au from 56m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Empire Resources (ASX:ERL, Empire) advises that it has now received all of the assay results from its recently completed AC drilling campaign at its 100% owned Penny’s Gold Project 45km east of Kalgoorlie in Western Australia. Empire completed 69 air core holes for 5,289m, testing multiple gold prospects including previously drilled aircore gold anomalies [1] , aeromagnetic structural trends and historic MMI anomalies. Assays from the complete drill program returned multiple anomalous and highgrade gold ±arsenic results across all the prospects tested. Gold mineralisation within the Penny’s Gold Project is interpreted to be similar to that encountered at Penny’s Find Gold Mine (ASX: HRZ) and the Garibaldi Deposit (ASX:PGM), where gold is associated with shear related quartz veining within mafic volcanic rocks, shales (including black shales) and minor altered felsic rocks. The mineralised Penny’s Find Shear Zone extends through E27/593 along with subparallel structures. The Penny’s Gold Project targets lie immediately adjacent to and along strike of the existing 270,000t @ 4.99g/t Au for 43,000oz [2] Resource at the Penny’s Find Gold Mine. Empire is entitled to royalties on gold production |
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