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Empire Resources Ltd.
Summary
| Project: | Pennys Find | |
|---|---|---|
| Deposit: | Pennys Find | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 13-12-2017: Empire Resources Ltd. announces a Resource Estimation report for its Pennys Find deposit at the Pennys Find project. JV - Mineral resource update for the Penny's Find Gold Mine. An inventory of 56,000 ounces of gold at robust grades has been a | |
| Resources: | (Resource, I+I): 248Kt @ 7.04g/t Au for 56Koz contained at project | |
| CP/QP: | [Resources]: Peter Ball (DataGeo Geological Consultants) | |
| ABSTRACT: | An inventory of 56,000 ounces of gold at robust grades has been announced by gold miner Empire Resources Ltd (‘Empire’, ASX code: ERL) under a new 2012 JORC compliant underground resource estimation for the Company’s Penny’s Find gold mine, 50 kilometres northeast of Kalgoorlie in Western Australia. The new underground reportable mineral resource of 248,000 tonnes @ 7.04g/t Au (Table 1) extends from the planned base of the current open pit operation (max. 85m depth) to at least 250m below surface and remains open at depth (Figure 1). This underground resource only reports fresh mineralisation and is defined by a 1.5g/t Au lower cut-off wireframe model. It also reflects only those parts of the mine’s total resource which have the potential to be economically viable for extraction by underground mining methods. The new resource estimation was calculated by DataGeo Geological Consultants (‘DataGeo’) and incorporates results from recent diamond drilling reported to the ASX on 6 November 2017. The data, interpretation and techniques utilised in the estimate of the mineral resource are summarised in Appendix 1. JORC 2012 tables pertinent to the resource estimation are shown in Appendix 2. The Penny’s Find Joint Venture partners expect the current final underground feasibility study to be completed by end of first quarter, calendar 2018. | |
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