Quarterly Activities/Appendix 5B Cash Flow Report

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Stock Empire Resources Ltd (ERL.ASX)
Release Time 28 Apr 2025, 3:25 p.m.
Price Sensitive Yes
 Empire Reports Quarterly Activities, Drilling Highlights
Key Points
  • Two drilling campaigns completed at Yuinmery Project, confirming extension of YT01 mineralisation
  • High-grade copper intersected at YT12 Prospect
  • Royalty payments from Penny's Find Gold Mine provide upside potential
Full Summary

Empire Resources Ltd has completed two drilling campaigns at its Yuinmery Project during the March quarter of 2025. Drilling at the YT01 Prospect has confirmed the extension of the copper-gold mineralisation, with highlights including 16m @ 4,140ppm Cu & 0.11g/t Au from 96m and 12m @ 4,549ppm Cu from 76m. High-grade copper was also intersected at the YT12 Prospect, with results such as 6m @ 8,821ppm (0.88%) Cu & 0.26g/t Au from 82m. The company also drilled at the YT19 and Magnetic Hill Prospects, with further work planned to follow up on the results. In addition to the exploration activities, Empire holds a royalty on the Penny's Find Gold Mine, which is owned by Horizon Minerals Ltd. The mine has a JORC (2012) compliant resource of 429kt @ 4.57g/t Au for 63,000oz, and Horizon has completed a prefeasibility study indicating a financially viable project with a probable (underground) ore reserve of 328.3kt @ 3.2g/t Au for 33.4koz. The development of Penny's Find presents an opportunity for Empire to generate additional revenue through the royalty payments.

Outlook

Empire's short-term focus is to follow up on the recent drilling results to establish the resource potential of the Yuinmery prospects. Further favourable results could provide significant upside for the company and its shareholders.