Empire Resources (ASX: ERL) has struck gold grading up to 15.60 grams per tonne (g/t) within the underground extension of its operating Penny’s Find mine near Kalgoorlie in Western Australia.
Better results from the six-hole diamond drill program were 1.63m grading 15.60g/t gold, 3.52m grading 6.32g/t gold including 1.22m grading 12.34g/t gold, and 1.94m grading 10.57g/t gold.
The recent drilling results complement previous assays taken from the ore body – boosting the company’s confidence.
“Results from the recent underground drilling have given us the confidence to move ahead with a final underground feasibility study to extend Penny’s Find’s mine life beyond the open pit,” Empire Resources managing director David Sargeant said.
“With gold mineralisation open at depth, there is good potential to add to the current underground indicated and inferred resource of 170,000 tonnes grading 5.40g/t gold.”
To-date the underground mineralisation at Penny’s Find extends 250m deep and remains open.
Test work has revealed the mineralisation is amenable to free milling with 85% gold recovered in a high gravity circuit.
Empire’s next steps will include updating the underground resource estimate and undertaking final feasibility study in to an underground operation.
The company anticipates these will be completed in the next few months.
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