THE DRILL SERGEANT: Emmerson Resources (ASX: ERM) recently completed a geophysical survey at the company’s Kadungle project in New South Wales.
Emmerson Resources informed the market it will be drilling on this project shortly, as well as at its Tennant Creek project in the Northern Territory.
Emmerson explained the Kadungle drilling is funded from a recent $2 million capital raising while the drilling at Tennant Creek is funded by the company’s partner, Evolution Mining (ASX: EVN) as part of a $15 million earn-in and JV where Emmerson is the manager and operator.
Emmerson completed an IP geophysical survey and alteration mapping at the Mt Leadley prospect within the Kadungle project, which it says confirms potential for shallow gold and deeper copper-gold mineralisation.
The activities have demonstrated the IP anomalies to be apparent across five consecutive lines, over one kilometre and within a previously identified zone of magnetite destruction.
Emmerson explained this was the first systematic exploration it has conducted on this project and although there has been previous but limited drilling, the company’s recent work has extended the project’s shallow gold and deeper copper-gold potential, as most of the anomalies remain untested.
At Tennant Creek a drilling campaign is currently underway focusing on extending previously discovered, high-grade copper and gold at the Gecko-Goanna project.
A previous deep co-funded drill hole by Emmerson/Evolution and the NT Geological survey intersected:
7 metres at 5.98 per cent copper, including 3m at 10.4 per cent copper from 123m down the hole.
A further zone of 3m at 4.75 per cent copper, including 1m at 10.6 per cent copper from 162m remains open in all directions and will be tested by eight RC drill holes.
In addition, a down plunge diamond hole at Goanna will test for deeper extensions beneath the previously intersected, high-grade copper and gold.
“The recent systematic exploration over the Kadungle project has produced further indications of a large shallow epithermal gold and deeper porphyry copper-gold system,” Emmerson Resources managing director Rob Bills said in the company’s announcement to the Australian Securities Exchange.
“Pleasingly the scale of the alteration and mineralisation over approximately two kilometres has been confirmed by the recent geophysical surveys and significantly, the better geophysical targets remain untested.
“Drilling will commence in late November and is focussed on establishing the extent and grade of both shallow epithermal gold and deeper porphyry copper-gold.”