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Emmerson Resources maps out drill plans for Tennant Creek

Published: 10:09 09 Mar 2018 AEDT

drillrig
The drill rig is expected to start turning next month in Northern Territory

Emmerson Resources Limited (ASX:ERM) is to commence its first drill program at Tennant Creek, Northern Territory, following the restructure of its joint venture agreement with Evolution Mining.

Work is set to begin next month assessing gold, copper and cobalt targets with 2,100 metres of reverse circulation drilling to be carried out.

Eight holes are planned for the Edna Beryl district of Tennant Creek and are aimed at identifying extensions outside the mine area. 

Previous drilling and gravity geophysics completed last year indicated there may be new mineralised hematite ironstones in the vicinity.

Testing extensions and continuity

A further five holes will test for extensions and continuity at a promising new discovery called Mauretania. 

The remainder of the program, meanwhile, will be spread across potential small mines projects and are aimed at providing further geological and grade information for future planning purposes.

“Whilst the proposed restructure of the Tennant Creek JV with Evolution Mining is now being assessed by the regulators, Emmerson is wasting no time in capitalising on some very compelling gold, copper and cobalt opportunities that were previously not of priority under the terms of the previous JV,” said managing director Rob Bills.

High-grade discoveries

The company owns high grade gold discoveries made at Edna Beryl, Mauretania and Goanna (copper-gold).

It is also progressing a new style of hematite-cobalt-copper mineralisation, which while intersected in historical drilling, has yet to be exploited or explored.

JV changes outlined last month 

The amendments to the Evolution Mining tie-up were outlined last month. 

Under the restructure, Emmerson will retain a 100% (instead of 35%) of all the gold dominant assets, prospects and associated exploration ground.

Emmerson will also retain a 100% interest in the Tribute Mining Agreement at Edna Beryl.

Evolution will take a 100% holding in the tenements (or parts of them) that contain the Gecko, Goanna, and Orlando copper-gold prospects, constituting 6% of the TCMF land position.

These prospects are predominantly copper-rich.

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