ACN 092 471 513
ASX Release 13 October 2009
Empire doubles gold exploration footprint
at Penny"s Find gold deposit near Kalgoorlie
A new joint venture has doubled Empire Resources Ltd"s (ASX: "ERL") gold exploration stakes
adjoining one of the Company"s key gold assets near Kalgoorlie in Western Australia.
Empire announced today it had secured an interest in a joint venture with Rubicon Resources Ltd
whereby it may earn a 51% interest in Rubicon"s Mt McLeay tenements, 50 kilometres northeast of
Kalgoorlie.
The under-explored joint venture gold acreage lies adjacent to and along strike from Empire"s 100%-
owned Penny"s Find gold deposit in M27/156 and on which Empire has already outlined a gold
resource of 314,000 tonnes @ 5.2g/tAu.
Under the terms of the Mt McLeay Joint Venture, Empire must spend $220,000 within 18 months to
earn the 51% interest in the 40 sq km of tenements that comprise the joint venture.
At Rubicon
Resources" election, Empire may then earn a further 19% interest to take its total holding to 70% by
spending an additional $500,000 over the following two years.
Empire will assume the interests and obligations of Bluestar Resources Limited (an unlisted public
company) in the Mt McLeay Joint Venture and Rubicon has agreed to this assignment subject to final
legal documentation.
Commenting on the Mt McLeay Joint Venture, Empire"s Managing Director David Sargeant, said:
"Several historical gold workings occur on the Mt McLeay tenements with previous shallow
exploration drilling returning a number of significant intercepts.
Intersections such as 4m @
4.05g/tAu, 8m @ 1.15g/tAu and 8m @ 0.46g/tAu present immediate drill targets.
"The joint venture doubles to 80 square kilometres the area of ground available to Empire for
exploration around Penny"s Find - offering an excellent opportunity to expand our resource base and
further enhance the economics of the project.
No deep drilling has been undertaken on any of the old
Mt McLeay gold workings and Empire will be following a similar exploration model to Penny"s Find
where surface leaching has depleted gold in the first 10 - 20 metres from surface.
"Scoping studies completed earlier this year by Empire also indicate that at present day gold prices in
excess of US$1,000 an ounce, a highly profitable mining operation could be established on the
existing Penny"s Find resource.
The location of any additional gold resources in the vicinity of
Penny"s Find, such as the Mt McLeay expansion, could only enhance the economics of any such
mining operation."
DAVID SARGEANT
MANAGING DIRECTOR
For further information on the Company visit www.resourcesempire.com.au
David Sargeant - Managing Director Phone +61 8 93613100
Adrian Jessup - Executive Director Phone +61 8 93613100
The information in this report that relates to Exploration Results has been compiled by Mr.
David Ross B.Sc(Hons), M.Sc.
who is an employee of the Company.
He is a member of the Australasian Institute of Mining and Metallurgy and the
Australian Institute of Geoscientists.
He has sufficient experience which is relevant to the style of mineralization and type
of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined
in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves".
David Ross consents to the inclusion in the public release of the matters based on his information in the form
and context in which it appears.
The information is this report concerning the Mineral Resources for the Penny"s Find Deposit have been estimated by Mr
Peter Ball B.Sc who is a director of DataGeo Geological Consultants and is a member of the Australasian Institute of
Mining and Metallurgy (AusIMM) .
Mr Ball has sufficient experience which is relevant to the styles of mineralization and
types of deposit under consideration and qualifies as a Competent Person as defined in the 2004 Edition of the
"Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".
Mr Ball consents to the
inclusion in the public release of the matters based on his information in the form and context in which it appears.
Notes on the Penny"s Find Resource
An updated resource estimate for the Penny"s Find gold mineralisation was completed and announced to the market on 8
August 2007 and 12 October 2007.
There has been no change to the resource since that time.
The mineral resource by category is 314,000 tonnes averaging 5.2 g/t gold down to a vertical depth of 150m below surface.
The mineral resource above 0.5 g/t gold is summarised in the following table.
Penny"s Find - Classified mineral resources - August 2007
Category Tonnes Grade* Ounces
Measured 79,000 4.40 11,177
Indicated 132,000 3.98 16,893
Inferred 103,000 7.33 24,276
TOTAL 314,000 5.18 52,316
*grades are based on a minimum cut-off of 0.5g/tAu and high assays cut to 25g/tAu
Resource modelling consultants Datageo calculated a JORC compliant in situ resource estimate, utilising all drill hole
information available on mining lease M27/156 up to the end of June 2007.
The resource grade was estimated using ordinary kriging based on the drill hole data composited downhole to 1m intervals
within constraining shapes representing the mineralisation.
Assumed specific gravity values used were:- oxide 2.0t/m3;
transitional 2.2t/m3; fresh 2.5t/m m3.
