Emmerson drilling reveals potential to double Goanna

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THE DRILL SERGEANT: Recent drilling completed by Emmerson Resources at the company’s 100 per cent-owned Goanna discovery has revealed two new, thick, copper intersections.

Emmerson said it considers the results demonstrate Goanna’s potential to double the strike extent of the already defined copper zones.

The company said further drilling is required to confirm the continuity of the ore body but the new holes, which were drilled 100 metres east from previous drilling now indicate a total strike extent of over 600m for the Goanna discovery.

Initial three metre composite assays from Reverse Circulation drill hole GRC1388 at Goanna East has produced intersections of:

–    81 metres at 0.45 per cent copper from 420 metres (approx. 300m below the surface), including 3 metres at 1.57 per cent copper from 420 metres and 3 metres at 2.14 per cent copper from 432 metres.

Initial 3m composite assays (table 1) from Reverse Circulation drill hole GRC1391 at the new Horner 3 prospect has produced:

–    15m at 0.49 per cent copper from 333m; and

–    15m at 0.32 per cent copper from 432m.

 

Goanna discovery with latest drill holes and interpreted strike potential. Source: Company announcement

 

“This latest drilling has the potential to add significant tonnes to the Goanna Resource,” Emmerson Resources managing director Rob Bills said in the company’s announcement to the Australian Securities Exchange.

“We remain on track to update our previously announced resource (2.46 million tonnes at 2.1 per cent copper equivalent or 5 grams per tonne gold equivalent) by first quarter in 2013.

“We believe there is excellent potential to define high-grade copper and gold ore zones as we increase the drilling density throughout the remainder of this year.

“These extensions add to the overall size of the Monitor-Gecko-Goanna complex, which now represents the largest mineralised system encountered in the Tennant Creek Mineral Field.

“We have succeeded in “cracking the code” on this new style of mineralisation that was blind to previous explorers by applying state of the art detection technology such as HeliTEM combined with an innovative exploration model.

“As such, we remain confident that further discoveries will be made and not just in the immediate Monitor-Gecko-Goanna mine environment but also further afield in the green field areas.”