PERTH (miningweekly.com) – The Western Australian government has given ASX-listed junior Empire Resources approval to start mining at the Penny’s Find gold project.
“This is a critical approval that means there are no technical impediments for our plans to mine at Penny’s Find upon the completion of a bankable feasibility study and financing arrangements,” said Empire MD David Sargeant.
“With a high-grade openpit planned to a depth of 80 m, this project represents an excellent near-term production opportunity for Empire, given the current high gold price. We also believe there is substantial upside at Penny’s Find once an ongoing study into the development of the underground resource has been completed.”
Sargeant said that this, along with exploration potential at depth, boded well for the long-term future of the project.
The project currently has an ore reserve of 146 000 t, grading 4.62 g/t gold for 21 700 oz and a resource estimate of 470 000 t, grading 4.42 g/t gold for 66 800 oz.