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Empire Resources maintains pace to expose gold ore zone at Penny’s Find

Published: 12:30 13 Apr 2017 AEST

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Clearing top soil into windrows at Penny’s Find Project

Empire Resources (ASX:ERL) is not resting over the Easter break, instead the company will continue operations to expose the gold ore zone as soon as possible at the Penny’s Find gold mine.

Penny’s Find is located 50 kilometres from Kalgoorlie in Western Australia.

The company is on schedule for full scale open pit gold mining operations to get underway this month.

A completed bankable feasibility study estimates $1.5 million capex for $7.6 million free cash flow over the open pit mine life of 11 months.

Empire recently secured $2 million in a placement to sophisticated investors.

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