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Emmerson Resources long time shareholder continues to buy on-market

Published: 14:00 22 Dec 2016 AEDT

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Noontide has recently been taking the opportunity to lift its position in Emmerson.

Noontide has recently been taking the opportunity to lift its position in Emmerson through on-market purchases, increasing its stake to 9.4% from 8.4%.


Bonanza gold

Earlier in the month Emmerson revealed bonanza grade gold from Tennant Creek, where all exploration is fully funded by the farm-in and joint venture with Evolution Mining (ASX:EVN).

Grades of up to a bonanza 337g/t gold have been discovered from the 6,500 metre drilling campaign at the Edna Beryl project.

This followed on from 1,043 g/t gold in October.


Exploration funded by partner

Through expenditure of $15 million over three years, Evolution will earn a 65% interest (Stage 1 Farm-in) in Emmerson’s tenement holdings in the Tennant Creek Mineral Field (TCMF).

The TCMF is one of Australia’s highest grade gold and copper fields producing over 5.5 million gold ounces and 470,000 tonnes of copper from a variety of deposits including Gecko, Orlando, Warrego, White Devil, Chariot and Golden Forty.

All of these deposits are within Emmerson's exploration and joint venture portfolio.

These deposits are considered to be highly valuable exploration targets and, utilising modern exploration techniques.

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