Yuinmery Copper-Gold Project

PROJECT

Yuinmery Copper-Gold Project

TARGET COMMODITIES

Copper-Gold, Copper-Nickel, PGM’s and Orogenic Gold

LOCATION

Murchison District of Western Australia, 475km northeast of Perth and 80km south of Sandstone.

TENEMENTS

106.7km2 granted mining and exploration tenements.

SUMMARY

The Yuinmery project tenements, which cover an area of 106.7km2, straddle the Paynes Find – Sandstone Road 475km northeast of Perth and 80km south of Sandstone. The project is host to the Just Desserts volcanogenic massive sulphide deposit with a JORC 2012 compliant Resources of 2.52Mt @ 1.31% Cu, 0.49g/t Au and 1.76g/t Ag using a 0.5% Cu cut-off (refer ASX:ERL “Updated copper-gold Resource Yuinmery Project” 17 May 2016). Pyrite and pyrrhotite are the dominant sulphides in the mineralised zones and chalcopyrite, sphalerite, magnetite, molybdenite, silver, gold, nickel and bismuth are also reported to be present in the mineralised zones.

The project area covers the eastern portion of the Archaean Youanmi greenstone belt with rock types consisting largely of mafic and ultramafic volcanics with altered chloritic felsic and intermediate volcanic units. The volcanic units contain a number of intercalated strongly sulphidic cherty sediments, which are host to Volcanic Massive Sulphide (VMS) copper-gold mineralisation. The project area lies between the Youanmi Shear zone (western boundary) and the Yuinmery Shear zone (eastern boundary) with the southern area covering the southern closure of a northerly plunging syncline.

Rock exposures are poor and limited within the project tenements due to the presence of gossans and superficial deposits. Where this cover is absent, the rocks are generally highly weathered and decomposed. Drilling of the project deposits, prospects and targets supports the distribution of the major rock units identified in outcrop.

In mid-2019 Empire Resource commissioned an independent technical review of the Yuinmery Project. This comprehensive review analysed Company generated and historical open file datasets including geochemical (surface and drill assays), geological mapping and several generations of geophysical datasets. The geological review focused on generating new target areas within the project limits that are prospective for precious and base metal mineralisation, identifying 18 new target areas for follow up exploration (refer ASX:ERL “Exploration Projects Update” 11 September 2019). In total, the Yuinmery Project has in excess of 46 deposits, prospects and targets at various stages of exploration development.

Figure 1 – Yuinmery Southern VMS Deposits, Prospects and Historical Drill Collar Locations. Base Image VTEM ch25_1641us_NEshade.

JUST DESSERTS – JORC 2012 RESOURCE

In 2016 the Company delineated a JORC 2012 compliant Resource for the Just Desserts deposit of 2.52Mt@ 1.31% Cu & 0.49g/t Au, including 1.27Mt @ 1.31% Cu & 0.64g/t Au in Indicated classification (refer ASX:ERL “Updated copper-gold Resource Yuinmery Project” 17 May 2016).

The Just Desserts deposit consists of a medium to steeply easterly dipping North-West striking massive and disseminated sulphide zone which is anomalous in copper and gold. The mineralisation occurs over a strike length of 760m, a vertical depth of 400m and a true width between 2m and 25m. The mineralisation is offset in places. The deposit remains open at depth.

Table 1 – Just Desserts JORC 2012 Resource Summary

A ZONE – HIGH GRADE COPPER OPPORTUNITY

The A-Zone prospect is located 1.3km along strike from the existing Just Desserts Resource of 2.5Mt @ 1.31% Cu & 0.49g/t Au. Previous drilling has returned high-grade results, including 12m @ 2.05% Cu from 138m (YRC18-01) and 7m @ 3.3% Cu from 192m (YRC11-26). Limited exploration has been undertaken at A Zone since 2011. With mineralisation open in all directions A Zone offers an opportunity to expand the scale potential of the Project.

Figure 3 – A Zone Oblique Cross Section

YT01 PROSPECT – PGM DISCOVERY

The YT01 prospect was identified by the Company in late 2019 and is associated with a strong east-west trending, multi-element (Au-Cu-Zn-Ni) geochemical anomaly that extends over 3.5km in strike length. In June 2020, RC drilling intercepted a broad zone of Cu-Ni-PGM mineralisation. YRC20-28 returned 20m @ 0.39% Cu, 0.11% Ni, 0.02% Co, 0.21g/t Pd & 0.07g/t Pt from 143m, including 12m @ 0.34g/t Pd & 0.11g/t Pt from 151m.

Figure 4 – YT01 Prospect 687,250mE Cross Section.

SMITH’S WELL – COPPER-NICKEL POTENTIAL

In May 2020 Empire identified a steeply plunging structure trending in a North-East direction at Smiths Well. This structure has been tested by RC drilling for over 200m of strike and to 240m vertical depth. The structure is associated with the regional magnetic trend and remains open to the North-East and down dip. There is every likelihood the copper-nickel mineralisation has continuity well beyond the zone already identified.

Drilling to date has returned broad zones of disseminated to matrix sulphide mineralisation, including chalcopyrite, pyrrhotite and pyrite in varying concentrations. Copper Drill intercepts of >1% Cu and associated elevated nickel (>0.2% Ni), low-level gold and cobalt values demonstrate the potential of the prospect.

Figure 5 – Smiths Well Historical Drill Collar Locations. Base Image RTP_Eagcs50ml.

COMPETENT PERSON STATEMENT

The information is this report 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.

The information in this report that relates to Exploration Results is based on information compiled and/or reviewed by Gerald Johnson, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Johnson is an independent geological consultant and has sufficient experience that is relevant to the style of mineralisation and type of deposit 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 Johnson consents to the inclusion in the report of the matters based on this information in the form and context in which they appear.