THE DRILL SERGEANT: Emmerson Resources (ASX: ERM) received interesting results from drilling at the company’s Kadungle gold-copper project in New South Wales.
Recently completed drilling at the Kadungle project identified potential for both deeper copper-gold and now, shallow epithermal gold at the Trig prospect.
The company indicated that assays are still pending, however construction of the drill access track at Trig revealed extensive boulders of epithermal quartz.
The last drill hole at Trig (drill hole TRC004) intersected multiple epithermal veins, which Emmerson interpreted to correspond with boulders at surface that contain extensive quartz-hematite veins.
Previous rock chip sampling at Trig returned highly anomalous gold geochemistry with up to 1.27 grams per tonne gold.
At the company’s Tennant Creek project, recent drilling at the Gecko-Goanna project has confirmed potential for non-ironstone hosted copper.
Better results included:
4 metres at 2.87 per cent copper from 122m, including 3m at 3.63 per cent copper;
plus, a deeper intersection of:
6m at 4 per cent copper from 137m, including 2m at 6.8 per cent copper.
5m at 1.36 per cent copper from 177m, including 1m at 4.7 per cent copper and 1m at 3.8 per cent copper.
The company claimed this to support previously announced mineralisation in drill hole GODD032 of 7m at 5.98 per cent copper and 3m at 4.75 per cent copper encountered by drilling in 2015.
Emmerson explained the funding for this recent drilling completes the Stage 1 Earn-in obligation from its Joint Venture partner, Evolution Mining (ASX: EVN).
Discussions are ongoing between the two companies regarding the future options for the Tennant Creek JV.
Emmerson said it was confident that these discussions will deliver a mutually attractive path forward for the project.
“Emmerson is extremely well positioned with commanding ground positions in New South Wales and Tennant Creek,” Emmerson Resources managing director Rob Bills said in the company’s announcement to the Australian Securities Exchange.
“This project portfolio is now diversified beyond Tennant Creek and attractive for development, either by Emmerson or third parties.
“We are confident that positive results across this portfolio will continue to build quality assets and consistency of news flow.
“Further, Emmerson is one of few junior companies building a revenue stream from small high-grade mines.
“Pleasingly the last round of drill results at Kadungle is consistent with the emergence of a large mineralised system that supports ongoing exploration for both shallow gold and deeper copper-gold.
“Assay results for the Trig drilling will be available toward the end of February as work continues both at Kadungle and across our other New South Wales projects.”