Empire Resources has acquired Evolution Mining’s interest in the Yuinmery tenements in Western Australia.
The precious and base metals-focussed explorer will purchase Evolution’s interest in tenements E57/681 and E57/1027, having already spent considerable time exploring and assessing the Yuinmery region.
This recent acquisition provides geological extension to Empire’s existing Yuinmery tenure, with a project-wide review of the potential of the region to continue.
Empire managing director Sean Richardson said the company “is aware of the geological potential of the tenements, having explored the area extensively in the past.”
“The acquisition of the tenements allows Empire to explore extensions of its existing Cu-Au (copper-gold) mineralisation, as well as explore recently identified geological targets,” Richardson said.
As part of the deal, Empire will acquire the tenements in return for a 1.23 per cent net smelter royalty, payable on Evolution’s earned portion of the tenements, which is 91.89 per cent at the time of acquisition.
The remaining 8.11 per cent is a contributing interest held by a third party.
The Yuinmery copper-gold project is north-east of Perth in the base metal-rich Youanmi greenstone belt.
Empire also owns the Penny’s north gold project near Kalgoorlie in the eastern Goldfields region of Western Australia.