Chariot fires up for Emmerson Resources

THE DRILL SERGEANT: Emmerson Resources (ASX: ERM) has announced a new Mineral Resource Estimation for the company’s Tennant Creek project in the Northern Territory.

Emmerson has calculated a new JORC gold Resource for its Chariot gold mine of 17.4 grams per tonne gold for 99,000 ounces of gold.

This takes the global mineral resources to 6.79 million tonnes at 3.6 grams per tonne gold equivalent for 900,000 gold equivalent ounces, which the company considers provides it with an early source of high-grade ore for processing at its 100 per cent-owned Warrego CIP mill.

Emmerson outlined its plans for the Chariot mine, which consist of an enlarged open pit, which is anticipated to extract over 40,000 ounces of gold at a grade of 17.7g/t.

The plan then involves the possible reconnecting to the existing underground development to extract a further 58,000 ounces at a grade of 17.2g/t gold.

The company is confident potential remains to expand both open pit and underground resources, as both remain open in most directions.

Emmerson has its next drill program planned for early 2014 – immediately after the wet season – which will focus on the Chariot East and West Targets where it plans to drill approximately 1,200m of RC drilling to test for shallow high-grade supergene gold.

Emmerson believes this program has the potential to again rapidly expand the resources and add to the high-grade ounces within an even larger open pit.

 

Chariot 3D view showing 2013 Optimized pit outline, open pit
resource (orange), underground (dark blue) and additional Chariot
targets (East, West & Gap). Source: Company announcement

 

“This latest resource upgrade caps a very successful year where our strategy of undertaking near mine and brownfields exploration has provided an ever expanding global JORC resource ahead of eventual production,” Emmerson Resources managing director Rob Bills said in the company’s announcement to the Australian Securities Exchange.

“We have a pipeline of exciting near mine and brownfields projects ready for drill testing in early 2014 and anticipate rapidly adding to these global resources.

“In addition we have made two new discoveries within our Tennant Creek project (Goanna and Monitor) utilising new technology and concepts – the first new discoveries in Tennant Creek for over a decade!

“Having regained 100 per cent ownership of the entire project, Emmerson plan to capitalise on our proprietary exploration techniques to make further discoveries within the more regional greenfields environment.

“I have just returned from a trip as part of the Northern Territory Trade delegation to Japan, South Korea and China and can report very strong interest in our project.

“Already we have a number of confidentiality agreements in place and data reviews underway, but more on this later.”

Email:
admin@emmersonresources.com.au

Website:
www.emmersonresources.com.au