THE DRILL SERGEANT: Emmerson Resources has announced an Indicated and Inferred JORC Resource estimation at its Gecko and Orlando copper/gold deposits located within the Tennant Creek Mineral Field (TCMF) in the Northern Territory.
The new Resource estimation has come in at of 50,800 tonnes of copper and 70,000 ounces of gold.
The company said it aims to expand on the estimation through an aggressive drilling campaign in coming months.
“These initial resource estimates for Gecko and Orlando are a great start which we hope to grow as we step out within the respective mine corridors,” Emmerson Resources managing director Rob Bills said in the company’s announcement to the Australian Securities Exchange.
“The existing development and infrastructure at Gecko and Orlando plus 100 per cent ownership of the Warrego mill provides Emmerson with a big head start for a return to production.
“The recent success at Goanna and Monitor indicate great potential for delineating additional resources and adding to the Gecko and Orlando metal inventory.
“This near mine potential has been overlooked by previous explorers and has come from the application of new geological concepts combined with flying the world’s most powerful helicopter EM geophysical survey.”
Emmerson recently announced the discovery of the Goanna mineralisation which yielded intersections including:
– 21 metres at 2.63 per cent copper from 297metres, including 7metres at 4.96 per cent copper from 299 metres.
This round of drilling also intersected:
– 2m at 4.9 per cent copper from 289m.
Emmerson said the ore it encountered at Goanna featured high grade bismuth, which it suggested is historically a strong indicator for the nearby presence of gold.
The new Goanna discovery is situated within the “Gecko Structural Corridor” and follows recent encouraging drilling results and discovery at Monitor where the company achieved high-grade copper intercepts of:
– 27m at 1.75 per cent copper, including 6m at 2.67 per cent copper and 1812 parts per million bismuth; and
– 6m at 3.53 per cent copper occurring approximately 200m below the surface (297m down the drill hole).
Emmerson’s recently-completed independent JORC compliant resource statement has estimated Indicated and Inferred Mineral Resources for both Gecko and Orlando of 2,460,000 tonnes of ore grading 2.1per cent copper or five grams per tonne gold equivalent resulting in 50,800 tonnes of copper metal or 390,000 ounces gold equivalent.
“The Goanna and Monitor discoveries have important implications, not only for the near mine exploration around Gecko and Orlando but also for greenfields exploration within the remainder of the some 3,300 square kilometre Emmerson tenements,” Bills continued.
“Particularly as the style and signature of these discoveries is very different to the historic ironstone hosted deposits.
“Thus HeliTEM continues to provide some new insights into the TCMF and has the potential to unlock a new generation of sulphide rich deposits within our project area.”