Empire Metals has dropped its Gindalbie Tribute Agreement, due to expire tomorrow, to focus fully on its Pitfield project.
Managing director Shaun Bunn said: "Given the focus on the rapid advancement of Pitfield, the company considers it prudent to rationalise its exploration portfolio and has decided not to renew the Tribute Agreement covering the Gindalbie tenement which sits adjacent to our Eclipse Gold Project, near Kalgoorlie in Western Australia.
“The board no longer believes that this is a core project for Empire. By rationalising the company's portfolio, the board can apply all of the company's energy and resources on Pitfield as it targets a maiden resource in 2024.”
The Eclipse and Gindalbie gold project consists of two adjacent mining leases, located near the historic gold mining town of Gindalbie, situated 55km north-east of Kalgoorlie.
Empire holds a 75% interest in the 306 ha Eclipse mining lease (M27/153) and entered into a Tribute Agreement that it the exclusive right to explore, develop and mine within a granted area on Maher Mining's 100%-owned mining lease at Gindalbie.