Emmerson Resources (ASX: ERM) s targeting copper and gold in Australia.
Emmerson Resources busy at Tennant Creek with second high grade copper discovery
Emmerson Resources (ASX:ERM) has discovered its second high-grade copper deposit within its 100% owned Tennant Creek Mineral Field in the Northern Territory in the past month, vindicating the importance of HeliTEM survey work.
This latest discovery, called Goanna, is within the highly prospective Gecko Structural Corridor and follows the recent encouraging drilling results and discovery at Monitor.
High grade copper intercepts at the Goanna project returned results of 21 metres at 2.63% copper from 297 metres down hole including 12 metres at 3.89% copper from 299 metres, or 7 metres at 4.96% copper from 299 metres. Drilling also hit 2 metres at 4.9% copper from 289 metres.
The Goanna mineralisation is some 200 metres east of the known mineralisation, remains open in all directions and consists of pervasively altered, quartz-chalcopyrite vein arrays within a series of sub-vertical shear zones.
Earlier this year, Emmerson completed a HeliTEM geophysical survey over five discrete blocks within the 3000 square kilometre project, which the company said had the potential to unlock a new generation of sulfide rich deposits within the project area.
Emmerson said the Goanna and Monitor discoveries had important implications to the exploration potential of the rest of the field, as the style and signature of these discoveries were very different to the historic ironstone hosted deposits.
Importantly, the company also believes there is excellent potential to intersect gold mineralisation beneath or peripheral to the identified copper zones, as the majority of deposits within the Tennant Creek Mineral Field have gold mineralisation below these zones.
Emmerson said while the copper grades were highly encouraging and over significant widths, the highly elevated Bismuth (21m at 0.69%) also suggested good potential for nearby gold mineralisation.
The Tennant Creek Mineral Field has produced more than 5.5 million ounces of gold and 470,000 tonnes of copper, being one of the highest grade goldfields in Australia.
Emmerson Resources (ERM) has consolidated 95% of this highly prospective mineral field where only 8% of the historical drilling has penetrated below 150 metres. Some of the most prospective rocks in the field lie hidden beneath recent cover.
