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Empire Resources Ltd.
Summary
| Project: | Pennys Find | |
|---|---|---|
| Deposit: | Pennys Find | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 6-11-2017: Empire Resources Ltd. announces an Exploration/Drilling Update report for its Pennys Find deposit at the Pennys Find project. JV - Drilling results incl. 5m @ 8.83g/t Au from 148m. High grade gold mineralisation confirmed by assays has been out | |
| Resources: | (Resource, I+I): 470Kt @ 4.42g/t Au at Pennys Find | |
| CP/QP: | [Overall Report]: David Ross (Internal) | |
| ABSTRACT: | High grade gold mineralisation confirmed by assays has been outlined by WA gold miner, Empire Resources Ltd (‘Empire’, ASX code: ERL, the “Company”) in the area targeted by the Company for a potential underground extension of its new Penny’s Find open pit gold mine, 50km northeast of Kalgoorlie. Figure 1 shows the hole pierce points and assays on long section and Table 1 the complete list of assay results. The aim of this drilling was to increase confidence in the gold mineralisation beneath the open pit, convert some Inferred resources to Indicated and to obtain important additional geotechnical data for ongoing underground mining studies. The new drill data has increased Empire’s confidence in the integrity of drilling results* previously obtained from below the current open pit e.g. 5m @ 20.88g/t Au, 3m @ 14.42g/t Au, 14m @ 5.34g/t Au, 6m @ 6.77g/t Au, 7m @ 5.27g/t Au and 3m @ 8.89g/t Au. Following completion of an updated resource calculation, the Company will commence a final underground feasibility study, expected to be finalised within a few months. “Results from the recent underground drilling have given us the confidence to move ahead with a final underground feasibility to extend Penny’s Find’s mine life beyond the open pit. “With gold mineralisation open at depth, there is good potential to add to the current underground Indicated and Inferred resource of 170,000t @ 5.40g/t Au.” | |
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