Ann: Penny's Find - Completion of the First Processing Campaign, page-2

ACN 092 471 513
12 October 2017 ASX Release
PENNY’S FIND GOLD MINE
COMPLETION OF FIRST PROCESSING CAMPAIGN
Gold miner, Empire Resources Ltd (‘Empire’, ASX code: ERL, the “Company”) is pleased to
announce the completion of the first processing campaign of Penny’s Find gold ore.
A parcel of 21,710 tonnes of ore was processed through Golden Mile Milling’s Lakewood
Mill at Kalgoorlie-Boulder over a period of 15 days commencing the 23rd September 2017.
Subject to final confirmation, preliminary numbers indicate the:
➢ Overall gold recovery was 94%
➢ Total gold recovered is expected to be over 1,500oz*
➢ 44% of the gold was recovered in the gravity circuit
➢ Calculated head grade was 2.38 g/t Au**
➢ This campaign produced well over $2 million worth of gold
➢ Final production details will be known after Mint refining
* Based on provisional gold recovery data from the Lakewood Mill.
** Ore was sourced from the upper levels of the orebody, which host lower grades. Grades are
expected to increase with depth.
A further parcel of 16,000 tonnes of ore is currently being processed through the Burbanks
Mill and is expected to add further cashflow this month.
Empire’s Managing Director, Mr David Sargeant:
“The first treatment campaign has confirmed the free milling nature of Penny’s Find ore and
its high gravity gold recoverable component.
As announced to the ASX on the 11 September, the recently completed second round of
grade control drilling has provided further strong confidence in the geological model being
used for Penny’s Find. As expected, the open-pit mining operations will shortly be accessing
the higher grade part of the ore body.