New Risk • Mar 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Negative equity (-AU$1.2m). Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$16.7m market cap, or US$11.4m). New Risk • Feb 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Negative equity (-AU$498k). Earnings have declined by 8.2% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (AU$22.2m market cap, or US$15.7m). Announcement • Feb 11
Empire Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million. Empire Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 363,478,311
Price\Range: AUD 0.008
Discount Per Security: AUD 0.00048
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 261,521,689
Price\Range: AUD 0.008
Discount Per Security: AUD 0.00048
Transaction Features: Subsequent Direct Listing New Risk • Sep 27
New major risk - Negative shareholders equity The company has negative equity. Total equity: -AU$498k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$896k free cash flow). Share price has been highly volatile over the past 3 months (33% average weekly change). Negative equity (-AU$498k). Earnings have declined by 8.2% per year over the past 5 years. Revenue is less than US$1m (AU$4.2k revenue, or US$2.8k). Market cap is less than US$10m (AU$8.16m market cap, or US$5.35m). Announcement • Sep 26
Empire Resources Limited, Annual General Meeting, Nov 27, 2025 Empire Resources Limited, Annual General Meeting, Nov 27, 2025. Location: perth Australia Announcement • Apr 08
Empire Resources Limited Receives Assay Results from its Recently Completed Slim Line Reverse Circulation Drilling Campaign at its Yuinmery Copper-Gold Project in Western Australia Empire Resources Limited provided the following update on exploration at the Company's Yuinmery Copper-Gold Project. Empire advises that it has now received assay results from its recently completed Slim Line Reverse Circulation drilling campaign at its Yuinmery Copper - Gold Project in Western Australia. Fifteen (15) drill holes for 1,236m, were completed testing five separate copper-gold target areas. There are no significant gold or copper assay results, with the highest gold assay from both holes being YAC24-14: 4m @ 51ppb from 4m. The information in this report that relates to Exploration Results is based on information compiled and/or reviewed by Mr. Mark Shelverton, who is a Member of the Australian Institute of Geoscientists. Mr. Shelverton is a full-time employee of Empire Resources and has sufficient experience that is relevant to the style of mineralisation and type of deposits 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". Hole positioning along grid line to intersect target zone., NA, RC results being reported are mostly based on 4m composite samples., Orientation of data in relation to geological structure, Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type., If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material., Drill sample orientation is considered appropriate with respect to the structures being tested., Bias introduced by drilling orientation is considered insignificant due to the depth of cover and lower penetration of residual bedrock, Sample Security, The measures taken to ensure sample security., Samples for submission to the laboratory are collected in pre-numbered calico bags; top of each bag is secured with a draw string., At each drill pad, calico sample bags are placed inside a poly woven bag (4 to a bag); top of each poly woven bag is secured with a cable tie., Each poly woven bag is annotated with the company name and the sample numbers held within each bag., Poly woven bags are transported to the Intertek Maddington Laboratory and placed on pallets by Empire Resources personnel., The Intertek Maddington Laboratory has a fenced compound with lockable gate., Audits or reviews, The results of any audits or reviews of sampling techniques and data., Samples are submitted to Intertek Laboratory in Maddington by Empire Resources personnel for sample preparation and analysis, The laboratories are subject to routine and random inspections, The program was completed and, data processed by the competent person who is an employee of Empire. This involved rock chip sampling and limited percussion drilling. Meekal Pty Ltd. commenced an exploration program in 1985 by remapping parts of the syncline and rock chip sampling. In 1986 Meekal introduced Arboyne NL into the project who carried out gold exploration by drilling reverse circulation holes under old gold workings. New Risk • Jan 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$945k free cash flow). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Revenue is less than US$1m (AU$6.3k revenue, or US$3.9k). Market cap is less than US$10m (AU$5.94m market cap, or US$3.69m). Announcement • Oct 22
Empire Resources Limited, Annual General Meeting, Nov 28, 2024 Empire Resources Limited, Annual General Meeting, Nov 28, 2024. Location: at level 4, 130 stirling street, perth, western australia 6000., Australia Announcement • Aug 05
Empire Resources Limited Appoints Colin McCavana as Non-Executive Director Empire Resources Limited announced the appointment of Mr. Colin McCavana as Non-Executive Director, effective from 5 August 2024. Mr. McCavana has over 40 years' experience in the mining and resources sector and has extensive experience in exploration, project development, construction, corporate management, capital raising, financing and operations. Mr. McCavana has had extensive involvement in mineral exploration and project development including the successful development and operation of several gold and Tantalum production operations in Australia, Africa and the USA. Mr. McCavana was the founding director of PVW Resources Ltd. and is also Chairman of Reward Minerals Limited. New Risk • Jun 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 33% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 44% per year over the past 5 years. Revenue is less than US$1m (AU$110 revenue, or US$73.0). Market cap is less than US$10m (AU$4.45m market cap, or US$2.97m). Minor Risk Shareholders have been diluted in the past year (33% increase in shares outstanding). Announcement • Apr 11
Empire Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.741957 million. Empire Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.741957 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 370,978,306
Price\Range: AUD 0.002
Transaction Features: Rights Offering New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.3m free cash flow). Shares are highly illiquid. Earnings have declined by 50% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$4.45m market cap, or US$2.89m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Board Change • Jan 22
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Mick Ruane was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 20
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Mick Ruane was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Sep 28
Empire Resources Limited, Annual General Meeting, Nov 30, 2023 Empire Resources Limited, Annual General Meeting, Nov 30, 2023, at 10:00 W. Australia Standard Time. Agenda: To consider re-election of a director. Announcement • Jan 10
Empire Resources Limited Commences A Circa 3,500M Aircore (AC) Drilling Campaign At its 100% Owned Penny's Gold Project 45Km East of Kalgoorlie in Western Australia Empire Resources Limited announced that it has commenced a circa 3,500m aircore (AC) drilling campaign at its 100% owned Penny's Gold Project 45km east of Kalgoorlie in Western Australia. The drilling is planned to follow up strong gold intercepts from drilling undertaken by Empire during September 2022 at the Penny's Gold Project, testing the extents of the mineralisation encountered. The campaign will take approximately 2 weeks to complete with laboratory assay returns expected approximately 6 weeks following thereafter. 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 Resource at the Penny's Find Gold Mine. Empire is entitled to royalties on gold production from mining operations undertaken at the Penny's Find Gold Mine which is owned by Horizon Minerals Limited. Gold mineralisation within the Penny's Gold Project is interpreted to be similar to that encountered at Penny's Find Gold Mine and the Garibaldi Deposit, 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. Empire completed 69 aircore holes for 5,269m in September 2022 . Assays from the complete drill program returned multiple anomalous and high-grade gold±arsenic results across all prospects. In December 2022 Empire geological staff collected 1m re-split samples from select composite aircore intervals >0.40g/t Au. The results of the 1m re-split sampling reinforces the tenor of gold mineralisation encountered and improves targeting of future drilling. Drilling at PF09 targeted historic MMI anomalies within a structural corridor interpreted from aeromagnetic data to be subparallel to the Penny's Find Shear Zone. Anomalous gold mineralisation intersected in previous aircore and RC drilling undertaken by Empire between 2019 and 2021 also supported the drill targeting. Composite sample results from the September 2022 aircore drilling included: 7m @ 1.66g/t Au from 48m (EOH) in PAC22-29 including 2m @ 2.42g/t Au from 52m 3m @ 0.55g/t Au from 92m in PAC22-33 1m re-split samples were collected in December 2022 from select original aircore drilling composite intervals. The results of the 1m sampling reported in this announcement includes: 2m @ 4.45g/t Au from 51m in PAC22-29 including 1m @ 5.49g/t Au from 51m; 1m @ 1.82g/t Au from 91m in PAC22-31; 1m @ 1.64g/t Au from 72m in PAC22-30; 2m @ 1.02g/t Au from 73m in PAC22-38. Drilling at PF09 intersected basalt with a local fine spinifex texture along with zones of black shale (carbonaceous locally). The weathering profile ranged from 40 110m thick. Drillhole PAC22-26 intersected residual gold in saprolite, while drillholes PAC22-27, and PAC22-29 to PAC22-33 intersected anomalous gold at the fresh rock interface associated with quartz veining, +/-pyrite <2% and foliated basalt. A strong arsenic anomaly (120 3,252ppm As) is typically associated with anomalous gold at the fresh rock interface. Drilling at PF06 targeted historic MMI anomalies and anomalous gold intersected in previous aircore drilling undertaken by Empire in 2019 (PAC19-53: 12m @ 0.26gt Au from 12m). The proximity of PF06 to the Penny's Find Shear Zone elevates the priority of this target. Composite sample results from the September 2022 aircore drilling included: 4m @ 2.41g/t Au from 56m in PAC22-50; 4m @ 0.54g/t Au from 36m in PAC22-47. 1m re-split samples were collected in December 2022 from select original aircore drilling composite intervals. The results of the 1m sampling reported in this announcement includes: 3m @ 2.37g/t Au from 56m in PAC22-50 including 1m @ 5.14g/t Au from 56m; 2m @ 1.17g/t Au from 36m in PAC22-47. Drilling intersected basalt with a local fine spinifex texture similar to that encountered at PF09 along with domians of mafic schist. Anomalous gold was intersected in saprolite/saprock associated with relict quartz veining. Anomalous gold mineralisation was also encountered at the fresh rock interface associated with quartz veining and foliated basalt. An arsenic anomaly (80 1,463ppm As) also occurs at PF06, although weaker than that seen at PF09. Aircore drilling at PF07 targeted historic MMI anomalies coincident with an extension to the Penny's Find Shear Zone interpreted from aeromagnetic data. Old workings at PF07 are considered poorly tested by previous drilling. Results from the composite assays collected dring the September 2022 aircore program were previously announced and include: 8m @ 2.89g/t Au from 64m in PAC22-14 including 4m @ 5.33g/t Au from 64m; 12m @ 0.76g/t Au from 92m in PAC22-06 including 4m @ 1.22g/t Au from 12m; 4m @ 0.89g/t Au from 124m in PAC22-19; 9m @ 0.56g/t Au from 72m (EOH) in PAC22-08; 4m @ 0.65g/t Au from 84m in PAC22-09; 1m re-split samples were collected in December 2022 from select original aircore drilling composite intervals. The results of the 1m sampling reported in this announcement includes: 6m @ 3.73g/t Au from 64m in PAC22-14 including 1m @ 8.47g/t Au from 65m and 1m @ 6.06g/t Au from 67m; 1m @ 1.89g/t Au from 62m in PAC22-10; 1m @ 1.51g/t Au from 75m in PAC22-08; 2m @ 1.22g/t Au from 78m in PAC22-08. Drilling at PF07 intersected basaltic rocks with domains of mafic schist. The weathering profile ranges in thickness from 30 130m thick. Gold was intersected in the regolith and in end of hole lithology associated with quartz veining and pyrite <2%. A patchy but strong arsenic anomaly (200 2,563ppm As) is associated with a significant portion of PF07 drilling. Announcement • Dec 07
Great Boulder Resources Limited (ASX:GBR) acquired 61km2 exploration licence at Gnaweeda from Empire Resources Limited (ASX:ERL) for AUD 0.01 million. Great Boulder Resources Limited (ASX:GBR) acquired 61km2 exploration licence at Gnaweeda from Empire Resources Limited (ASX:ERL) for AUD 0.01 million on December 6, 2022. 61km2 exploration licence at Gnaweeda (E51/1995) was acquired for consideration AUD 0.01 million of plus a 1% gross revenue royalty. The tenement, considered by Empire to be a noncore asset, was first granted on July 9, 2021 and is in good standing. This announcement has been approved by the Great Boulder Board.Great Boulder Resources Limited (ASX:GBR) completed the acquisition of 61km2 exploration licence at Gnaweeda from Empire Resources Limited (ASX:ERL) on December 6, 2022. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Mick Ruane was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 25
Empire Resources Limited Reports Pennys Gold Project Aircore Drilling Results Empire Resources advised that it has received the first batch of results from its recently completed AC drilling campaign at its 100% owned Penny's Gold Project 45km east of Kalgoorlie in Western Australia. 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 Resource at the Penny's Find Gold Mine. Empire is entitled to royalties on gold production from mining operations undertaken at the Penny's Find Gold Mine which is currently owned by Horizon Minerals Limited. Empire completed 69 air core holes for 5,289m, testing multiple gold prospects including previously drilled aircore gold anomalies, aeromagnetic structural trends and historic MMI anomalies. The first batch of assays returned multiple mineralised intervals including high- grade gold ±arsenic; the final batch of assays are expected to be reported early November. Drilling at PF07 and PF09 intersected basalt with a fine spinifex texture locally and domains of mafic schist. The weathering profile ranged from 30-130m thick. Gold was intersected in regolith and in end of hole lithology associated with quartz veining, pyrite<2% and foliated basalt. Final assays results from recently completed diamond drilling holes YDD22-06 at Smiths Well and YDD22-07 at YT01 Prospect have been received. Downhole Electromagnetic (DHEM) geophysical surveys have also been completed. Diamond drillhole YDD22-06 at Smiths Well intersected 5.5m of disseminated pyrrhotite- chalcopyrite-pyrite sulphides from 357.0m downhole. Assay results include: 5.46m @ 0.25% Cu from 365.54m, including 0.25m @ 0.75% Cu from 366.9m, and 0.3m @ 0.64% Cu from 370.15. DHEM surveys completed on holes YDD22-05 and YDD22-06 at Smiths Well to determine the extent of the sulphide conducting bodies. The DHEM surveys confirmed the extents of the conductor down plunge of the existing drilling. Diamond drillhole YDD22-07 at YT01 confirms previously intercepted sulphide mineralisation. The lithologies intercepted are similar to those encountered in previous drilling which includes zones of disseminated chalcopyrite and stringer sulphides (chalcopyrite-pyrite) in altered basaltic rocks. Assay results include: 8.0m @ 0.33% Cu & 0.1g/t Au from 292m, including 1.2m @ 0.65% Cu & 0.2g/t Au from 294.3m. DHEM surveys completed at YT01 did not detect the presence of sufficiently conductive bodies. Empire will continue to explore YT01 for extensions of previously identified mineralisation along strike. Board Change • Oct 24
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Mick Ruane was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 01
Empire Resources Limited, Annual General Meeting, Nov 11, 2022 Empire Resources Limited, Annual General Meeting, Nov 11, 2022, at 10:00 W. Australia Standard Time. Announcement • Aug 29
Empire Resources Announces Drilling Commences at Pennys Gold Project Empire Resources announced that it has commenced a circa 5,000m AC drilling campaign at its 100% owned Penny's Gold Project 45km east of Kalgoorlie in Western Australia. The drilling is planned to follow up anomalous gold intercepts from drilling undertaken by Empire at the Penny's Gold Project. The drilling will also target historical gold in soil anomalies that have not been tested by modern drilling techniques. The campaign will take approximately 2 weeks to complete with laboratory assay returns expected approximately 6 weeks following thereafter. The Penny's Gold Project targets lie immediately adjacent to and along strike of the existing 250,000t at 5.22g/t Au for 42,000oz Resource at the Penny's Find Gold Mine. Empire is entitled to royalties on gold production from mining operations undertaken at the Penny's Find Gold Mine which is owned by Horizon Minerals Limited. Highlights: Aircore (AC) drilling underway at Empire's Penny's Gold Project east of Kalgoorlie; 5,000m drill program targeting five highly prospective gold targets; Following up historical anomalous soils and previously drilled gold intercepts; Drilling focussed on testing the regolith and basement for gold and pathfinder elements. Announcement • Jul 01
Empire Resources Completes Four Hole Diamond Drilling Campaign for 1,612M at its Yuinmery Project Empire Resources (Empire) announced that it has completed a four hole diamond drilling campaign for 1,612m at its Yuinmery Project. Assays have also been received for the first two diamond holes of this program, YDD22-04 and YDD22-05 from the Smiths Well Prospect. Smiths Well Prospect - Results from the first two holes drilled at Smiths Well have been received for the previously reported massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides in diamond holes YDD22-04 and YDD22-05 which were drilled to test the down plunge extension of the strong downhole electromagnetic conductor. Assays received for the previously reported 22.38m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides intersected from 328.42m downhole in YDD22-04 include: 23.09m @ 0.45% Cu, 0.15% Ni & 364ppm Co from 328.42m, including 6.46m @ 0.67% Cu, 0.16% Ni & 390ppm Co from 340m. Assays received for the previously reported 11.33m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides intersected from 386.12m downhole YDD22-05 include: 2.9m @ 0.39% Cu, 0.08% Ni & 122ppm Co from 382.1m; 4.4m @ 0.43% Cu, 0.13% Ni & 251ppm Co from 387m; and 2.0m @ 0.66% Cu, 0.05% Ni & 268ppm Co from 393m, including 0.55m @ 1.26% Cu, 0.04% Ni & 222ppm Co from 393m. Downhole Electromagnetic (DHEM) geophysical surveys have been completed on holes YDD22-05 and YDD22-06 at Smiths Well to determine the presence and extent of sulphide conducting bodies. Smiths Well has responded well to geophysical techniques, where the highly conductive, channel-like structure dominates the Smiths Well mineralised system. YT01 Prospect - An additional diamond drill hole at YT01 has been completed targeting down dip extent of previously intercepted sulphide mineralisation. The lithologies intercepted in the recently completed YDD22-07 are similar to those encountered in the previous drill hole YDD22-01, which includes zones of disseminated chalcopyrite and stringer sulphides (chalcopyrite-pyrite) in altered basaltic rocks. Logging of YDD22-07 has been completed and samples submitted for laboratory analysis. DHEM surveys have been completed on holes YDD22-01 and YDD22-07 to test for the presence of off-hole conductors. Samples from diamond holes YDD22-06 (Smiths Well) and YDD22-07 (YT01) have been collected and submitted for laboratory analysis. Assay results from the final batch of samples is anticipated to be received during the September Quarter. Samples have been collected and submitted for petrographic analysis to characterise the host geology, sulphide mineralogy and alteration. The Company has also collected petrophysical samples of drill core from YT01 and Smiths Well Prospects. The samples will be measured for magnetic susceptibility, resistivity, IP chargeability, EM conductance and density. The information gained from both the petrographic and petrophysical analysis will assist in optimising geophysical techniques and further refine data processing. Two metallurgical samples have been collected from within the Smiths Well massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides zone of hole YDD22-04. A series of rougher floatation tests have been designed to study the physical and chemical behaviour of the copper, nickel and cobalt and their relationship to the various sulphide species observed within the mineralised zone. Geophysical surveys, including the use of downhole electromagnetic (DHEM) will continue to be used to plan and target drilling. The DHEM data recently collected at both Smiths Well and YT01 is expected to be processed early in the September quarter with results, including any modelling to be completed soon thereafter. Announcement • May 19
Empire Resources Limited Announces Further Massive Sulphides At Smiths Well Prospect Empire Resources Limited announced that it has intersected 22.38m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 328.42m in diamond drillhole YDD22-04 and 11.33m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 386.12m in diamond drillhole YDD22-05 at the Smiths Well prospect, Yuinmery. Diamond hole YDD22-04 (Figure 1) was designed to target the strong conductor modelled from downhole electromagnetic (DHEM) surveys completed in March 2022. The sulphide intercept is interpreted to be a down plunge extension to the Smiths Well mineralisation, where 30.1m @ 0.60% Cu, 0.17% Ni & 0.034% Co was recently intersected in drillhole YDD22-02. Diamond hole YDD22-05 was designed to test the limits of the modelled DHEM conductor approximately 60m down plunge from YDD22-04. The massive to disseminated intercepts lie within an interpreted mafic sequence comprising coarse grained gabbroic rocks with very coarse grained (glomeroporphyritic) domains and horizons dominated by ferromagnesium minerals and dolerite. Basalt occurs in the footwall of the mineralisation. The highly conductive copper-nickel-cobalt horizon is interpreted to occur in the mafic sequence proximal to the basalt contact. YDD22-03 Assay Results: Assay results for YDD22-03 drilled at Smiths Well during the March 2022 quarter have been received from Empire's preferred commercial laboratory. YDD22-03 intercepted three zones of mineralisation. Assay results include: 1.25m @ 0.20% Cu, 0.21% Ni & 0.041% Co from 215.35m. 10m @ 0.65% Cu & 0.10g/t Au from 253m including 0.7m @ 1.26% Cu & 0.20g/t Au from 255.3m and 0.9m @ 1.13% Cu & 0.15g/t Au from 258.7m. 2m @ 0.80% Cu & 0.17g/t Au from 313m including 1m @ 1.19% Cu & 0.23g/t Au from 314m. The upper copper-nickel-cobalt horizon intercepted at 215.35m is associated with semi-massive sulphide, primarily fine pyrrhotite with lesser pyrite and chalcopyrite similar to the highly conductive copper-nickel-cobalt zone. While this interval has copper-nickel-cobalt chemistries similar to the highly conductive zone the relationship between the two is unclear at present. The strongly mineralised 10m @ 0.65% Cu & 0.10g/t Au from 253m is considered to be a separate copper-gold horizon located below the highly conductive copper-nickel-cobalt horizon. The intersection occurs within a broader 18m wide zone of copper anomalism. Chalcopyrite is the main sulphide mineral present, occurring as net textured and disseminations in quartz-carbonate-sericite-pyrite veins hosted in Gabbro. The third mineralised zone from 313m is associated with fine crackle brecciation with silica- carbonate matrix, silicification and aggregates of fine magnetite in a ferromagnesium section of the gabbro. Chalcopyrite is the main sulphide mineral and predominately occurs within the mafic clasts as disseminations or net textured. Mineralisation is likely the result of brittle deformation in the less ductile lithologies. FORWARD PLAN: Samples from YDD22-04 and YDD22-05 have been collected and submitted for laboratory analysis. Assay results from the YDD22-04 and YDD22-05 batch of samples is anticipated to be received during the June Quarter. Diamond drillhole YDD22-06 at Smiths Well has also been completed, targeting the down dip extents to the modelled DHEM plate conductor and to test for the presence of the new copper- gold horizon identified in diamond hole YDD22-03. Logging of YDD22-06 is ongoing. Drilling continues at Yuinmery with drill hole YDD22-07 at YT01 testing down dip extensions to mineralisation intercepted in diamond drillhole YDD22-01. Samples will be collected and submitted for petrographic analysis to characterise the host geology and sulphide mineralogy. The Company will also investigate petrophysical testing of drill core to assist in optimising geophysical techniques and further refine data processing. Geophysical surveys, including the use of downhole electromagnetic (DHEM) will continue to be used to plan and target drilling. Geophysical surveys will commence as soon as a geophysical crew is available. Recent Insider Transactions • May 07
Non-Executive Chairman recently bought AU$51k worth of stock On the 6th of May, Michael Ruane bought around 6m shares on-market at roughly AU$0.0093 per share. In the last 3 months, they made an even bigger purchase worth AU$63k. Michael has been a buyer over the last 12 months, purchasing a net total of AU$520k worth in shares. Announcement • May 04
Empire Resources Announces Assay Results from Yuinmery Project Empire Resources announced that it has received final assays results from its preferred commercial laboratory for diamond holes YDD22-02 from Smith Well and the complete assay set for diamond hole YDD22-01 from YT01 Prospect, Yuinmery. Smiths Well Prospect: Results from a priority batch of assays for 17.6m of the previously reported 30m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides in diamond hole YDD22-02 at Smiths Well were previously received in March 2022. The remaining assays for 12.4m of the 30m sulphides interval in YDD22-02 have now been received. The complete set of assays for the 30m sulphide interval in hole YDD22-02, including those assays previously reported in March 2022 include: 30.1m at 0.60% Cu, 0.17% Ni & 0.034% Co from 276m in YDD22-02 including 5m at 1.15% Cu, 0.18% Ni & 0.027% Co from 284m and 1m at 1.09% Cu, 0.18% Ni & 0.045% Co from 294m and 2m at 1.11%Cu, 0.19% Ni & 0.040% Co from 304.1m A downhole-electromagnetic (DHEM) survey completed on hole YDD22-03 in March 2022 defined a very high conductance modelled plate (> 20,000S) within the sulphide horizon. Drilling has recommenced at Smiths Well targeting the modelled plate down plunge to the massive-disseminated sulphides intercepted in YDD22-02. YT01 Prospect: Assay results for two previously reported broad sulphidic zones comprising 5-25% pyrite- chalcopyrite sulphides intersected in diamond drillhole YDD22-01 at YT01 have been received. The upper sulphidic zone from 169m consisting of a stockwork of quartz-carbonate-pyrite-chalcopyrite veinlets in silicified basalt and minor disseminated sulphides returned 3m at 0.89% Cu & 0.12g/t Au from 172m, including 1m at 1.49% Cu & 0.12g/t Au from 173m. This zone is interpreted to be the extension of the upper mineralization zone intersected in YRC21-16. The lower sulphidic zone from 239m returned 13.4m at 0.56% Cu & 0.12g/t Au from 240.6m, including 3.9m at 1.01% Cu & 0.13g/t Au from 240.6m. This zone comprises disseminated-matrix pyrite-chalcopyrite sulphides hosted within an interpreted altered basalt. Weak to moderate shearing overprints the altered basalt. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Mick Ruane was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 12
Empire Resources Limited Announces Strong DHEM Responses at Smiths Well Empire Resources announced that downhole electromagnetic (DHEM) surveys have been completed at the Smiths Well Prospect, Yuinmery Project. The DHEM surveys and modelling were completed by Empire's geophysical consultant Southern Geoscience Consultants (SGC). The DHEM surveys completed in hole YDD22-03 were designed to better define the extent and orientation of the conductor intercepted in hole YDD22-02. Hole YDD22-03 failed to intercept a conductor despite targeting a plate modelled from previous DHEM surveys. Two loops were planned for the YDD22-03 DHEM survey. Loop 1 was designed to couple the known conductor intercepted in YDD22-02. Loop 2 was designed to null couple the known conductor and test for any secondary conductors in the vicinity. The quality of the captured data was very good. The observed responses were very strong and no readings decayed completely to noise levels. SGC modelled the YDD22-03 survey data from both hole and loop configurations concurrently with previous DHEM survey data from holes YDD21-01 and YRC21-25. The latest time channels possible were used to model the strong conductor, in this case channels 33-35. The DHEM modelling has greatly improved the understanding of the Smiths Well conductor. Using data from three holes concurrently results in a well constrained model. A single plate 445m long and 77m wide adequately fits the observed response in all the holes. Any residual misfit between the modelled and observed data is due to the rectangular flat model not accurately representing the true geometry of the sulphide body which is likely to be more complex. The second loop designed to null-couple the main conductor did not identify any responses from conductors other than the main conductor. The modelling suggests the main Smiths Well conductor has channel-like geometry that plunges at approximately -45° to the north and dips at approximately 60° to the west. The modelled plate has a high conductance >20,000S. A series of planned drillholes will test the down dip and down plunge extensions of the Smiths Well channel conductor. Drilling contractors have advised their availability and it is expected that drilling will commence during the June quarter and continue through the mid-year. All samples from the recently completed diamond drilling program have been submitted to Empire's preferred commercial laboratory for chemical analysis. Current advice for laboratory analysis turnaround times is 8 to 10 weeks from submission. Samples from hole YDD22-01 (YT01) are expected to be returned during April, while the remaining samples from holes YDD22-02 and YDD22-03 (Smiths Well) are expected to be returned in May 2022. Further diamond drilling is planned to commence in the June 2022 quarter when a drilling contractor becomes available. Drilling contractors have advised their rig availability and the Company continues to work with their preferred contractors to lock in a firm commencement date. Samples of drill core have been collected and submitted to a reputable petrographer to characterise the host geology and sulphide mineralogy. Further petrographic samples will be collected as drilling progresses. The results of petrographic analysis will be used to refine exploration targeting and data processing. Recent Insider Transactions • Mar 08
Non-Executive Chairman recently bought AU$63k worth of stock On the 4th of March, Michael Ruane bought around 7m shares on-market at roughly AU$0.009 per share. This was the largest purchase by an insider in the last 3 months. Michael has been a buyer over the last 12 months, purchasing a net total of AU$523k worth in shares. Announcement • Mar 03
Empire Resources Limited Announces Assay Results from Smiths Well Empire Resources advised that it has completed the diamond drilling program at its Yuinmery Project. A total of five holes were drilled for 1,427.6m targeting extensions to mineralisation at Smiths Well, YT01 and Constantine prospects where highly encouraging copper-gold, copper-nickel-cobalt and platinum group metals were encountered in recent deep RC drilling in July 2021. Results from a priority batch of twenty (20) assays have been received from Empire's preferred commercial laboratory. The priority submission encompassed 17.6m of the previously reported 30m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides in diamond hole YDD22-02 at the Smiths Well prospect. The 17.6m returned 0.70% Cu, 0.21% Ni & 0.04% Co from 286m, including 2m at 1.79% Cu, 0.18% Ni & 0.03% Co from 287m and 1m at 1.09% Cu, 0.18% Ni & 0.04% Co from 294m. Results for the remaining 12.4m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides observed in YDD22-02, along with other samples collected from YDD22-01 (YT01) and YDD22-02 are included in the assay batch due in April 2022. The final batch of samples from diamond holes YDD22-03 (Smiths Well) and YRCD21-21 (Constantine) have been collected and submitted for laboratory analysis. Assay results from the final batch of samples is anticipated to be received in May 2022. Visual estimates of sulphide abundance are based on the Company's sulphide field logging guideline. Visual estimates of sulphide mineral abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory analysis is required to determine the widths and grades of visual sulphide estimates. Announcement • Feb 16
Empire Resources Limited Announces Massive Sulphides at Smiths Well Prospect Empire Resources advised that it has intersected 30m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 276.1m in diamond hole YDD22-02 at the Smiths Well prospect, Yuinmery. Pyrrhotite is the dominant sulphide mineral in all zones. A breakdown of the intercept is as follows. 276.1m 278.1m: Massive to semi-massive sulphide (pyrrhotite-pyrite-chalcopyrite); 278.1m 284.7m: Disseminated/stringer sulphide (pyrrhotite-pyrite-chalcopyrite); 284.7m 303.5m: Massive sulphide (pyrrhotite with scattered blebby chalcopyrite and globules of pyrite rimmed by chalcopyrite); 303.5m 306.1m: Disseminated/stringer sulphide (pyrrhotite-pyrite-chalcopyrite). Diamond hole YDD22-02 was designed to target a strong conductor modelled from downhole electromagnetic (DHEM) surveys completed in January 2022. The strongly responsive conductor is interpreted to be a down plunge extension of the Smiths Well mineralisation, where previous intersections included 16m @ 0.51% Cu, 0.16% Ni & 0.031% Co from 255m in drillhole YRC21-28, and 5m @ 0.65% Cu, 0.13% Ni & 0.039% Co from 110m in drillhole YRC21-26 including 1m @ 1.90% Cu, 0.18% Ni & 0.038% Co from 112m. The massive to disseminated intercept lies within an interpreted mafic-ultramafic sequence comprising coarse grained gabbroic rocks with very coarse grained (glomeroporphyritic) domains, dolerite, basalt and ultramafic lithologies. These observations are preliminary in nature and estimates of sulphide minerals are visual only. Samples have been collected onsite and submitted to a commercial laboratory for chemical analysis. Petrographic samples will be collected for rock and mineralogy classification. Smiths Well Copper-Nickel-Cobalt Potential: In May 2020 Empire identified a steeply plunging structure trending in a northeast direction a the Smiths Well prospect. 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 northeast and down dip. There is high probability that the copper-nickel mineralisation will continue 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. Drill intercepts of >1% Cu, and associated nickel (>0.2% Ni), gold and cobalt values demonstrate the potential of the prospect. In January 2022, Empire engaged Southern Geoscience Consultants (SGC) to undertake a downhole electromagnetic (DHEM) survey at Smiths Well. The DHEM survey predominantly focussed on identifying conductors along strike and down plunge of previously identified and drill confirmed conductors. A single strong anomaly was detected from hole YDD21-01 using a loop designed to couple with the known geometry from previous drilling. A plate with high conductance of 20,000 S was modelled up dip and to the northeast of the drill hole. The modelled plate dips at 53° towards the northwest and has extensive strike length of 159 m. The fit between the observed and modelled response is very good and the conductor is believed to be a strike extension of the main Smiths Well mineralisation horizon. Diamond drill hole YDD22-02 was planned to intercept the modelled plate 50m along strike and two-thirds up dip from the modelled base of the conductor where it is expected that an extensive sulphide pile has formed. The drillhole intercepted massive to disseminated sulphides at 276.1m as planned and the thick downhole intercept of 30m conforms to the prevailing geological model. Diamond drilling continues at Yuinmery where hole YDD22-03 at the Smiths Well prospect tests the strike extension of the January 2022 modelled DHEM conductor. Announcement • Feb 08
Empire Resources Announces Sulphides Intersected at Yuinmery YT01 Prospect Empire Resources announced that it has intersected two broad sulphidic zones comprising 5-25% pyrite-chalcopyrite sulphides in diamond drilling at Yuinmery. Diamond hole YDD22-01 was designed to target down dip extensions to previously intercepted Cu-Ni-PGM mineralisation at the YT01 prospect of 36m at 0.34% Cu, 0.07% Ni, 0.16% Pd, 0.03% Pt and 0.07g/t Au from 188m (YRC21-16). The upper sulphidic zone from 169m is 10m downhole width consisting of a stockwork of quartz-carbonate-pyrite-chalcopyrite veinlets in silicified basalt, minor disseminated sulphides also occur. This zone is interpreted to be the extension of the upper mineralisation zone intersected in YRC21-16. The lower sulphidic zone from 239m is 21m downhole width comprising disseminated-matrix pyrite-chalcopyrite sulphide hosted within a layered ultramafic sequence. Weak to moderate shearing overprints the layered ultramafic. These observations are preliminary in nature and estimates of sulphide minerals are visual only. Samples are currently being collected onsite for submission to a commercial laboratory for chemical analysis. Downhole Electromagnetic (DHEM) geophysical surveys are planned to test for the presence of conductors while petrographic samples will be collected for rock and mineralogy classification. In June 2020, RC drilling intercepted a broad zone of Cu-Ni-PGM mineralisation. YRC20-28 returned 20m at 0.39% Cu, 0.11% Ni, 0.02% Co, 0.21g/t Pd & 0.07g/t Pt from 143m, including 12m at 0.38% Cu, 0.34g/t Pd & 0.11g/t Pt from 151m. In July 2021, one 250m deep RC hole was drilled under YRC20-28 to test for continuity of mineralisation at depth. In the targeted downdip position, this hole intersected 36m of mineralisation assaying 0.34% Cu, 0.07% Ni, 0.16% Pd, 0.03% Pt and 0.07g/t Au. These encouraging results demand follow-up and a single deep diamond core hole (YDD22-01) has been drilled. The geology of the YT01 Prospect is poorly understood. Information gained from YDD22-01 on mineralisation, lithology and structure will assist in future targeting at the YT01 prospect. There is an observed zonation to the mineralisation with gold-copper predominating above 120m vertical depth, below which the mineral assemblage also includes nickel, palladium and platinum, as well as copper and gold. The current 1,800m drilling program at Yuinmery is designed to target extensions to mineralisation at Smiths Well, YT01 and Constantine prospects where highly encouraging copper-gold, copper-nickel-cobalt and platinum group metals were encountered in recent deep RC drilling in July 2021. Drilling continues at Yuinmery where hole YDD22-02 is underway at the Smiths Well Prospect. Drilling at Smiths Well is targeting the down-plunge extensions to recently encountered broad zones of mineralisation, included 16m at 0.51% Cu, 0.16% Ni & 0.031% Co from 255m in drillhole YRC21-28. Announcement • Feb 01
Empire Resources Limited Announces Extensive Copper & Nickel Soil Anomalism at its Wholly Owned Nanadie Project in Western Australia Empire Resources Limited advised that detailed mapping, reconnaissance soils and geophysical targeting review have been completed at its wholly owned Nanadie Project in Western Australia. Empire initiated ground exploration activities at Nanadie soon after grant of the final project tenement applications in 2021. Field work commenced with detailed geological fact mapping completed by experienced geological mapping consultancy, Compass Geological, closely followed by a +1,500-point reconnaissance soil sampling program. Southern Geoscience Consultants (SGC) were engaged to review and reprocess all available historical and publicly available geophysical data. The reprocessed data allowed for completion of lithostructural interpretation and study to identify and rank targets of interest. Empire Resources' Nanadie Project is located 625km northeast of Perth and 70km southeast of Meekatharra in the Murchison District of Western Australia. The project comprises two contiguous granted mineral exploration tenements (120.4km2) covering the northernmost section of the Barrambie Greenstone Belt and a third granted tenement (6.9km2) south of Cyprium Metals Limited Nanadie Well Copper Gold Project. Cyprium's Nanadie Well Copper Gold Project has a JORC 2004 Inferred Resource of 36.07Mt @ 0.42% Cu & 0.06g/t Au containing 151,506 tonnes of copper and 74,233 oz of gold. Recent Insider Transactions • Oct 19
Non-Executive Chairman recently bought AU$302k worth of stock On the 13th of October, Michael Ruane bought around 27m shares on-market at roughly AU$0.011 per share. This was the largest purchase by an insider in the last 3 months. Michael has been a buyer over the last 12 months, purchasing a net total of AU$503k worth in shares. Announcement • Oct 09
Empire Resources Announces the Commencement of Exploration Activities on Its Wholly Owned Nanadie Copper-Gold Project in Western Australia Empire Resources announced the commencement of exploration activities on its wholly owned Nanadie Copper-Gold Project in Western Australia. Empire initiated ground exploration activities soon after the grant of the remaining tenement applications that constitute Empire's Nanadie Copper-Gold Project. Field work commenced with detailed geological fact mapping completed by experienced geological mapping consultancy, Compass Geological. The detailed geology mapping, along with compiled available geophysical imagery have contributed to the design of an approximate 1,500-point soil sampling program. Field collection of soil samples has commenced with processing, analysis and results expected during the December quarter. Southern Geoscience Consultants (SGC) has been engaged to review, reprocess, and interpret all available historical and publicly available geophysical data. SGC has identified a substantial amount of aerial magnetic and ground electromagnetic survey data that overlay several potentially prospective areas of the project. The detailed mapping, soil sampling results and the reinterpreted geophysical data will be used to identify potential aircore and/or RC drilling targets. Empire Resources' Nanadie Copper-Gold Project is located 625km northeast of Perth and 70km southeast of Meekatharra in the Murchison District of Western Australia. The project comprises two contiguous granted mineral exploration tenements (120.4km2) covering the northernmost section of the Barrambie Greenstone Belt and a third granted tenement (6.9km2) south of Cyprium Metals Limited (ASX:CYM) Nanadie Well Copper Gold Project. Cyprium's Nanadie Well Copper Gold Project has a JORC 2004 Inferred Resource of 36.07Mt @ 0.42% Cu & 0.06g/t Au containing 151,506 tonnes of copper and 74,233 oz of gold [1]. The geological sequence hosting the Nanadie Well deposit is interpreted to continue north into Empire's tenure. A regional shear, informally known as the Nanadie Well Regional Shear traverses the northern tenements from north to south. REGIONAL GEOLOGY: The Archean Barrambie Greenstone Belt is a narrow north-northwest trending greenstone belt approximately 60km long yet only about 4km across at its widest; it is flanked by granitoids. To the south of the Nanadie tenements mineralisation is associated with a layered mafic complex (Barrambie Igneous Complex) which has intruded into and is substantially conformable with the trend of the enclosing greenstone sequence that comprises metamorphosed mafic and felsic volcanics, meta-sediments and banded iron formation (BIF). The northern tip of this Igneous Complex reaches to the southern part of Empire's tenement E51/1938 and hosts Cyprium's Nanadie Well Copper-Gold deposit. Farther south it hosts Neometals' Titanium-Vanadium-Iron deposit, as well as a number of historical gold mines both within the Complex and adjoining greenstones. The margins of the Barrambie Greenstone Belt are marked by two shears that are the northerly extensions of the Youanmi Shear (along the western margin) and Edale Shear (along the eastern margin). These two regional scale structures coalesce in the region occupied by the Empire tenements. Empire commissioned Compass Geological to undertake detailed mapping of the Barrambie Greenstone Belt contained within the Nanadie Project tenements with this work completed in September 2021. Exposure in the tenements is poor due to extensive superficial cover comprising mainly sheetwash sands and gravels, colluvium and laterite. Bedrock, where exposed, is typically strongly weathered. The greenstone sequence in the southern tenement is dominated by dolerites, gabbros and peridotites, interpreted to be part of the Barrambie Igneous Complex. These mafic-ultramafic units are increasingly squeezed between the granites as they are traced northward. The greenstone sequence thins dramatically as it enters Empire tenements north of Cyprium's Nanadie Well Deposit. A soils geochemistry program has commenced at the Nanadie Project. The program consists of collecting approximately 1,500 soil samples from potentially prospective areas identified by geological mapping, available geophysical imagery and historical sampling data. Soil samples are to be taken approximately 200mm below the surface on east-west traverses with a spacing of 50m between samples. At the completion of field collection, the soil samples will be processed for geochemically anomalous base and precious metals. Results are expected during the December quarter. Southern Geoscience Consultants Pty Ltd. (SGC) has been engaged to undertake a review and interpretation of all available geophysical data at the Nanadie Project. The work undertaken by SGC will be used in conjunction with the results of the soil sampling campaign to identify potential targets for testing by aircore and/or RC drilling. SGC has identified four airborne magnetic surveys and several ground electromagnetic surveys that have previously been acquired across Empire's Nanadie Project area. The airborne magnetic data will be reprocessed by SGC, producing a digitally attributed set of levelled and enhanced magnetic data. Announcement • Sep 24
Empire Resources Provides Excellent Results from Yuinmery Drilling Empire Resources provided the following update on exploration at its Yuinmery base and precious metals project in Western Australia. 2,244m of reverse circulation (RC) drilling was completed during June and July 2021. This round of drilling was designed to further delineate the lateral extent and establish continuity of mineralisation at the YT01 Cu-Au-PGM prospect, Smith's Well Cu-Ni-Co prospect and A Zone Cu-Au prospect, and to test geochemical and geophysical targets at MRP and Constantine prospects. Results from A Zone include 8m at 0.78% Cu from 124m in drillhole YRC21-22, including 4m at 1.03% Cu from 128m. At Smith's Well intercepts include 16m at 0.51% Cu, 0.16% Ni & 0.031% Co from 255m in drillhole YRC21-28, including 1m at 1.05% Cu, 0.19% Ni & 0.033% Co from 261m and 5m at 0.65% Cu, 0.13% Ni & 0.039% Co from 110m in drillhole YRC21-26 including 1m at 1.90% Cu, 0.18% Ni & 0.038% Co from 112m. The results from Smith's Well are from the deepest mineralised intercepts drilled to date, supporting the hypothesis that Smith's Well may host economic mineralisation at depth. Encouraging PGM results were also returned from drilling at Constantine Prospect, comprising 12m at 0.41g/t Pd & 0.05g/t Pt from 120m (EOH) in drillhole YRC21-21 including 4m at 0.64g/t Pd & 0.06g/t Pt from 124m. The drilling at Constantine ended in mineralisation, indicating the mineralised system extends below current drilling depths. Empire has designed programs for diamond drilling of the deep copper, nickel and PGM targets. Drilling contractors have been approached and a favorable schedule appears achievable. Empire's Yuinmery Project is located 475km northeast of Perth and comprises six contiguous granted mineral tenements covering approximately 106.7km2 within the Archaean Youanmi Greenstone Belt ("YGB"). The Yuinmery Project is bounded by the Youanmi shear zone to the west and the Yuinmery shear zone to the east. Known copper-gold mineralisation at Yuinmery is of volcanogenic massive sulphide (VMS) style. Empire's Just Desserts deposit has a previously reported JORC Resource of 2.5Mt at 1.31% Cu and 0.49g/t Au. Empire has identified a pipeline of Cu, Au, Ni, and PGM targets within its southern Yuinmery tenement area. Multiple drill-ready targets from greenfields-style conceptual anomalies through to more advanced prospects will be tested during future field programs. RC drilling during late June and early July tested several high priority geochemical and geophysical targets prospective for VMS-type Cu-Au and Cu-Ni-PGM mineralisation at YT01, A Zone, Main Road Prospect (MRP), Constantine, and Smith's Well. 14 RC holes for 2,244m were drilled. Results and observations from the RC program are discussed below. Follow up diamond drilling is planned for Smith's Well and YT01 to trace the established mineralisation to greater depth, while additional RC drilling is planned at A Zone to follow the mineralisation up dip. The A-Zone prospect is located 1.3km along strike from the existing Just Desserts Resource of 2.5Mt at 1.31% Cu & 0.49g/t Au [2].Previous drilling has returned high-grade results, including 12m at 2.05% Cu from 138m (YRC18-01) and 7m at 3.3% Cu from 192m (YRC11-26). Limited exploration has been undertaken at A Zone since 2011. With mineralization open in all directions further drilling offers an opportunity to expand the scale potential of the prospect. Three holes for 408m were drilled during the quarter testing the potential for shallow high grade copper mineralisation up dip and on strike from mineralisation intersected in YRC18-01. Results demonstrate continuity of the Cu-Au mineralisation and further drilling is planned to test the up-dip projection of the mineralisation. Announcement • Feb 16
Empire Resources Limited Announces the Aircore Drilling Has Intersected Encouraging Zones of Cu, Au and Ni Mineralization at its Yuinmery Base Metals Project in Western Australia Empire Resources Limited reported that aircore (AC) drilling has intersected encouraging zones of Cu, Au and Ni mineralization at its Yuinmery base metals project in Western Australia. The drilling completed in late 2020 consisted of 76 scout AC holes testing previously undrilled targets prospective for volcanogenic massive sulphide (VMS) base metal and platinum group metal (PGM) mineralisation. The AC drilling has been successful in intersecting anomalous Cu-Au mineralisation within the oxide zone at prospects YT01, YT02 and YT05; and Cu-Au-Ni anomalism at YT12. Empire subsequently completed a program of first pass reverse circulation (RC) drilling at YT01 and YT05 late January. Anomalous AC results include: 2m @ 1,148ppm Cu from 36m (EOH) in YAC20-10; 6m @ 2,182ppm Cu from 20m (EOH) in YAC20-40; 4m @ 2,776ppm Cu and 679ppb Au from 12m in YAC20-45; 16m @ 580ppm Cu and 2,215ppm Ni from surface (EOH) in YAC20-68; 15m @ 1,703ppm Cu and 797ppm Ni from 4m (EOH) in YAC20-70; including 8m @ 1,732ppm Cu and 1,061ppm Ni from 8m; and 3m @ 2,478ppm Cu and 672ppm Ni from 16m (EOH); and 12m @ 2,349ppm Ni from 8m (EOH) in YAC20-73. Announcement • Oct 12
Empire Resources Limited Provides Update on Widespread Gold Mineralisation in Aircore Drilling at Penny's Empire Resources Limited provided update on widespread gold mineralisation in aircore drilling at Penny's. Drilling at PF09 prospect confirms prospectivity of interpreted supergene enrichment. Lateral limits of previously identified mineralisation expanded in a twenty-two hole, 1,381m aircore program. Wide drill intercepts of anomalous gold, including: 12m at 0.80g/t Au from 40m, including 4m at 1.78g/t Au from 48m (PAC20-02); 22m at 0.45g/t Au from 36m to EOH (PAC20-17); 6m at 0.78g/t Au from 48m to EOH (PAC20-12); 6m at 0.57g/t Au from 46m (PAC20-01). Planning underway for RC drilling to test the continuity of gold mineralisation at depth. Announcement • Aug 06
Empire Resources Limited announced that it expects to receive AUD 1.307596 million in funding Empire Resources Limited (ASX:ERL) announced a private placement of 108,966,332 new fully paid ordinary shares at an issue price of AUD 0.012 per share for gross proceeds of AUD 1,307,596 on August 4, 2020. The transaction will include participation from sophisticated and professional investors. The transaction is not subject to shareholder approval. The transaction is expected to be completed on or about August 7, 2020.