Empire Resources’ Penny’s Find gold project has been given the go-ahead by the Department of Mines and Petroleum.
The company received notification of assessment of the project’s management plan, which satisfied all the requirements.
The project, located 50km northeast of Kalgoorlie, may now proceed with development.
Empire is currently progressing the Penny’s Find gold project through a Bankable Feasibility Study, with a view to commencement of open-pit mining from mid-year and first gold production in the second half of 2016.
“This is a critical approval that means that there are no technical impediments for our plans to mine at Penny’ s Find upon the completion of the Bankable Feasibility Study and financing arrangements,” managing director David Sargeant said.
“With a high grade open pit planned to a depth of 80m, 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 development of the underground resource has been completed. This along with exploration potential at depth bodes well for the long term future of the project.”
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