Yuinmery Copper-Gold Project

CONSISTING OF FIVE GRANTED TENEMENTS, TWO MINING AND THREE EXPLORATION, FOR A TOTAL AREA OF 84.5 KM2

The Yuinmery Copper-Gold project is located in the Mid-West region of Western Australia and consists of five granted tenements, two mining and three exploration, for a total area of 84.5 km2. The project has a current JORC 2012 Resource 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 announcement “Updated copper-gold Resource Yuinmery Project” 17 May 2016).

The Yuinmery 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.

During the June 2019 quarter a geological review of the Yuinmery Project was carried out by an independent geological consultant for Empire Resources. The review used 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.

Through the integration of the geochemical and geophysical datasets eighteen (18) new target areas have been identified for follow up exploration (refer ASX:ERL “Exploration Projects Update” 11 September 2019). These targets are at various stages of exploration development with some of the priority 1 targets in the south deemed ready for reconnaissance drilling while priority 2 and 3 target areas will require additional soil sampling programs to support reconnaissance drilling.

Figure 1 – Yuinmery Northern Prospects – Defined by anomalous soil sampling underlain by simplified 1:100,000 GSWA interpretative geology.

Figure 2 – Yuinmery Southern Prospects – Defined by anomalous soil sampling underlain by simplified 1:100,000 GSWA interpretative geology.

JUST DESSERTS DEPOSIT

The Company has 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.

Figure 1 – Just Desserts Deposit Long Section

A ZONE PROSPECT

Previous exploration has intersected significant copper-gold mineralisation at the A Zone prospect located just 1.3km along strike from the 2.52Mt Just Desserts Resource. Drilling intersections at A Zone include:

  • 19m @ 1.9% Cu & 0.3g/t Au from 160m, including 5m @ 4.4% Cu & 0.4g/t Au
  • 7m @ 3.2% Cu & 0.5g/t Au from 192m, including 4m @ 4.5% Cu & 0.5g/t Au
  • 10m @ 1.8% Cu & 0.9g/t Au from 222m, including 5m @ 2.8% Cu & 1.2g/t Au
  • 8m @ 2.4% Cu & 1.3g/t Au from 275m, including 3m @ 4.0% Cu & 3.3g/t Au

Figure 1 – A-Zone Prospect Long Section

SMITH WELL PROSPECT

The Smith Well prospect is an historic copper-gold prospect with recently identified anomalous nickel in drilling. Drilling so far intercepted sulphides, including chalcopyrite, pyrrhotite and pyrite in varying concentrations. Copper intercepts of >1% Cu associated with elevated nickel (>0.2% Ni), low-level gold and cobalt values have demonstrated the potential of the prospect and merits further assessment.

Drilling intersections at Smith Well include:

  • 16m @ 0.50% Cu, 0.25% Ni & 0.03% Co from 102m including 1m @ 0.88% Cu, 0.32% Ni & 0.04% Co from 116m
  • 12m @ 0.49% Cu, 0.28% Ni & 0.03% Co from 86m including 4m @ 0.61% Cu, 0.32% Ni & 0.04% Co from 94m
  • 7m @ 0.45% Cu, 0.28% Ni & 0.04% Co from 123m
  • 24m @ 0.76% Cu & 0.12g/t Au from 72m including 8m @ 1.39% Cu & 0.17g/t Au from 72m

YT01 PROSPECT

The 3.5km southern horizon was identified by the Company in 2019 following an independent review of historical geochemical, geological mapping, drilling and geophysics datasets. Initial exploration consisted of aircore (AC) drilling in late 2019 with RC drilling in January and March 2020 targeting the most prospective areas.

RC drilling in March 2020 intercepted copper oxide minerals above the base of oxidation and trace and disseminated sulphides consisting of chalcopyrite, pyrrhotite and pyrite in holes YRC20-14, YRC20-15, YRC20-16 and YRC20-176 at the base of oxidation interface.

Drilling intersections at YT01 include:

  • 44m @ 0.44% Cu & 0.09g/t Au from 40m including 3m @ 1.01% Cu & 0.10g/t Au from 57m and 1m @ 1.03% Cu & 0.14g/t Au from 79m
  • 44m @ 0.47% Cu & 0.07g/t Au from 88m including 1m @ 1.00% Cu & 0.18g/t Au from 93m, 2m @ 1.05% Cu & 0.22g/t Au from 95m and 1m @ 1.40% Cu & 0.13g/t Au from 101m

CONSTANTINE PROSPECT

Figure 1 – Constantine Prospect Cross Section

COMPETENT PERSON STATEMENT

The information is this release concerning the Mineral Resources for the Penny’s Find and Just Desserts deposits 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 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 for the Yuinmery Project review is based on information compiled and/or reviewed by Shane Tomlinson, who is a Member of the Australian Institute of Geoscientists. Mr Tomlinson 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 Tomlinson consents to the inclusion in the report of the matters based on this information in the form and context in which they appear.