donnie
10-05-2007, 01:03 PM
Big turnover going through ERL after the Penny Find project announcement. They seem to have very good ground.
http://www.resourcesempire.com.au/
The Penny’s Find Project is located 50 kilometres northeast of Kalgoorlie and 30 kilometres east of the large Kanowna Belle gold mine.The Company’s mining tenements here are considered prospective for Archaean lode style gold mineralisation and ultramafic-hosted nickel mineralisation in the sediments and volcanics of the Gindalbie Greenstone Belt, which forms part of the Kurnalpi Terrane. Empire has an option to acquire a 100% interest in this group of tenements, which extends over an area of approximately 52 square kilometres.
Previous exploration within the project area has outlined a shallow, oxide inferred gold resource of 68,000 tonnes @ 4.0 g/t gold to a maximum depth of 55 metres below surface.This resource is open at depth and along strike with the deepest intersection to date being 3 m @ 10.57 g/t gold from 55 metres. Nickel mineralisation has been discovered in the southeast of the tenements, in talc carbonate rocks that appear not to have been explored previously.
Elsewhere within the project area, geochemical sampling has outlined numerous gold-in-soil anomalies, many associated with interpreted shear structures. Some of the anomalies, which have not been drill tested, represent immediate regional exploration targets.
The possibility of obtaining an early cash flow from the mining of this existing resource, together with the high potential to increase the resource by drilling along strike and at depth, makes the known mineralisation at Penny’s Find an attractive target. The large landholding and untested gold and nickel geochemical anomalies of the project add further to its potential.
The Directors intend to immediately undertake a reverse cycle (‘RC’) drilling program at Penny’s Find to further evaluate and add to the known resource. A scoping study on the economics of mining and toll-treating the resource will then be undertaken. This work will be carried out in conjunction with drill evaluation of identified geochemical and aeromagnetic anomalies elsewhere within the tenements.
__________________________________________________ ____________________
Empire’s Torrens Project is located on the southeastern margin of Lake Torrens, approximately 100 kilometres north-northeast of Port Augusta in South Australia. It consists of two granted exploration licences covering 794 square kilometres.
The tenements lie within the Torrens Hinge Zone on the eastern margin of the Gawler Craton.The Gawler Craton is a world-class metallogenic IOCG province that includes the Prominent Hill deposit, the Olympic Dam copper-uranium-gold mine, the Moonta-Wallaroo mining area and the Carrapateena and Punt Hill discoveries.The Torrens Project is situated 170 kilometres southeast of the Olympic Dam mine and 70 kilometres southeast of the Carrapateena copper-gold discovery. It is also approximately 40 kilometres southeast of the Punt Hill Project, at which there have been a number of recent IOCG type discoveries.
Previous exploration within the project area has included a detailed aeromagnetic survey and a ground based gravity survey. Interpretation of these surveys indicates that a large part of the project area is underlain by Proterozoic basement rocks at a relatively shallow depth of 100 to 400 metres.These basement rocks, which include circular zones indicative of intrusive bodies, are cut by north-northwest and northeast trending faults and overlain by thin Cainozoic and Mesozoic cover rocks.
The geophysical surveys have outlined several gravity and magnetic targets that have similar geophysical signatures to known occurrences of copper, gold and uranium in the Gawler Craton.These represent immediate drilling targets.
This project area lies close to the intersection of two regional gravity corridors known as G2 and G8. The G2 corridor in particular contains a number of diamond, indicator mineral and kimberlite occurrences. Previous exploration res
http://www.resourcesempire.com.au/
The Penny’s Find Project is located 50 kilometres northeast of Kalgoorlie and 30 kilometres east of the large Kanowna Belle gold mine.The Company’s mining tenements here are considered prospective for Archaean lode style gold mineralisation and ultramafic-hosted nickel mineralisation in the sediments and volcanics of the Gindalbie Greenstone Belt, which forms part of the Kurnalpi Terrane. Empire has an option to acquire a 100% interest in this group of tenements, which extends over an area of approximately 52 square kilometres.
Previous exploration within the project area has outlined a shallow, oxide inferred gold resource of 68,000 tonnes @ 4.0 g/t gold to a maximum depth of 55 metres below surface.This resource is open at depth and along strike with the deepest intersection to date being 3 m @ 10.57 g/t gold from 55 metres. Nickel mineralisation has been discovered in the southeast of the tenements, in talc carbonate rocks that appear not to have been explored previously.
Elsewhere within the project area, geochemical sampling has outlined numerous gold-in-soil anomalies, many associated with interpreted shear structures. Some of the anomalies, which have not been drill tested, represent immediate regional exploration targets.
The possibility of obtaining an early cash flow from the mining of this existing resource, together with the high potential to increase the resource by drilling along strike and at depth, makes the known mineralisation at Penny’s Find an attractive target. The large landholding and untested gold and nickel geochemical anomalies of the project add further to its potential.
The Directors intend to immediately undertake a reverse cycle (‘RC’) drilling program at Penny’s Find to further evaluate and add to the known resource. A scoping study on the economics of mining and toll-treating the resource will then be undertaken. This work will be carried out in conjunction with drill evaluation of identified geochemical and aeromagnetic anomalies elsewhere within the tenements.
__________________________________________________ ____________________
Empire’s Torrens Project is located on the southeastern margin of Lake Torrens, approximately 100 kilometres north-northeast of Port Augusta in South Australia. It consists of two granted exploration licences covering 794 square kilometres.
The tenements lie within the Torrens Hinge Zone on the eastern margin of the Gawler Craton.The Gawler Craton is a world-class metallogenic IOCG province that includes the Prominent Hill deposit, the Olympic Dam copper-uranium-gold mine, the Moonta-Wallaroo mining area and the Carrapateena and Punt Hill discoveries.The Torrens Project is situated 170 kilometres southeast of the Olympic Dam mine and 70 kilometres southeast of the Carrapateena copper-gold discovery. It is also approximately 40 kilometres southeast of the Punt Hill Project, at which there have been a number of recent IOCG type discoveries.
Previous exploration within the project area has included a detailed aeromagnetic survey and a ground based gravity survey. Interpretation of these surveys indicates that a large part of the project area is underlain by Proterozoic basement rocks at a relatively shallow depth of 100 to 400 metres.These basement rocks, which include circular zones indicative of intrusive bodies, are cut by north-northwest and northeast trending faults and overlain by thin Cainozoic and Mesozoic cover rocks.
The geophysical surveys have outlined several gravity and magnetic targets that have similar geophysical signatures to known occurrences of copper, gold and uranium in the Gawler Craton.These represent immediate drilling targets.
This project area lies close to the intersection of two regional gravity corridors known as G2 and G8. The G2 corridor in particular contains a number of diamond, indicator mineral and kimberlite occurrences. Previous exploration res