Hey mate welcome! Just FYI I tipped ERL FA last week The TA is...

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speckledjim1

11,940 Posts.

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30/07/16

08:30

Post #: 18405606
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Originally posted by Jase77 ↑

STTCOMP ERL, FA Long

Empire Resources Ltd (Gold explorer moving to producer in WA)
Market Cap $9m, Cash $1.3M, Shares 387,201,475

Empire Resources Ltd holds a 60% direct interest in the Penny’s Find gold project situated on granted Mining Lease 27/156. The remaining 40% interest is held by unlisted Brimstone Resources Ltd (‘Brimstone’).

Penny Find’s total in-situ mineral resource extends to 250m below surface and remains open at depth. High grade gold mineralization is hosted by quartz veins at the contact between sediments and basalt. Both oxide and fresh mineralization are free milling with 98% and 99% recoveries achieved in recent testwork respectively. There is also a high gravity recoverable gold component, 53% for oxide and 85% for fresh.

Recent Drilling results released to market (27/07/2016) confirms high grade gold intersections at shallow depths confirming the original geological interpretation.

Better results include:
6m @ 3.52g/t Au from 11m depth in PGC010
7m @ 11.39g/t Au from 27m depth in PGC032
5m @ 13.58g/t Au from 32m depth in PGC036
3m @ 13.44g/t Au from 35m depth in PGC039 5m
6.33g/t Au from 23m depth in PGC040
11m @ 5.36g/t Au from 28m depth in PGC047
12m @ 4.94g/t Au from 4m depth in PGC056
19m @ 5.85g/t Au from 3m depth in PGC060
8m @ 2.77g/t Au from 3m depth in PGC064
3m @ 10.93g/t Au from 9m depth in PGC071

Note: first tip and 2nd post.

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Hey mate welcome!
Just FYI I tipped ERL FA last week
The TA is available as far as I know so may be best to re enter for TA?
Cheers
3 Upvote

0 Great analysis

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