HIGH GRADE GOLD DEFINED IN TARGETED UNDERGROUND EXTENSION OF NEW...

HIGH GRADE GOLD DEFINED IN TARGETED UNDERGROUND EXTENSION OF NEW PENNY’S FIND OPEN PIT MINE

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.

The assays are from a recent six hole diamond drilling program beneath the open pit.

Better results include:

➢ 1.63m @ 15.60 g/t Au from 168.37m in hole PFD17-02
➢ 3.52m @ 6.32 g/t Au from 172.50m in hole PFD17-02 including 1.22m @ 12.34 g/t Au from 174.80m
➢ 5.00m @ 8.83 g/t Au from 148.00m in hole PFD17-04 including 2.22m @ 12.52 g/t Au from 150.78m
➢ 1.94m @ 10.57 g/t Au from 162.36m in hole PFD17-05

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.

*As reported in various ASX announcements and quarterlies in 2007 and 2012
Empire’s Managing Director, Mr David Sargeant:
“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.”

Penny Find’s mineralisation extends to 250m below surface and remains open at depth. High grade gold mineralisation is hosted by quartz veins at the contact between sediments and basalt.
Testwork has shown fresh mineralisation to be free milling with a high gravity recoverable gold component of 85%.
Empire holds a 60% direct interest in the Penny’s Find gold project with the remaining 40% interest held by unlisted Brimstone Resources Ltd.
The Company last month poured its first gold bar from the open pit operations, with the mine’s ore being toll processed at two nearby regional gold mills.











DAVID SARGEANT MANAGING DIRECTOR
November 2017

GLTAH