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Additional Information
Market: ASX
Sector: Gold Mining
Epic: .ERM
News: Latest news
Web Site: Emmerson Resources
Other Articles: 29-01-201021-12-200903-11-2009

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Emmerson Resources

Emmerson Resources

Emmerson Resources commands a dominant tenement position in Australia's Tennant Creek Mineral Field. This field is characterised by extremely high-grade gold & gold-copper deposits, with a historical production in excess of 5.5 million ounces of gold and 488,000 tonnes of copper.  Emmerson Resources owns the Warrego Gold Plant, located 35 kilometres north-west of Tennant Creek. The plant has an annual production capacity of 300,000 tonnes and was last operated in December 2005, following complete refurbishment in early 2003.

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Thursday, October 15, 2009

Emmerson Resources hunting for Tier 1 projects at Tennant Creek JV with Ivanhoe Australia

by Amy Dry company news image

Gold miner Emmerson Resources (ASX: ERM) has provided an update on the company’s exploration and drilling activities within its tenement package at Tennant Creek under the recently concluded $18 million exploration Joint Venture with Ivanhoe Australia (ASX: IVA).

Good progress has been achieved toward the systematic evaluation of the 26 Tier 1 undercover projects identified on its tenements, with three drilling rigs currently active across a number of these targets.

While aggressive exploration is continuing, all of these targets are subject to meeting specific “success” milestones before moving to the next stage.

Shares in Emmerson were down slightly, falling 1, or 2.9 per cent, to 33c.

Drilling is now underway to test four Tier 1 targets in the Northern Project Area (NPA) and four Tier 1 targets in the Ivanhoe-Colombard Area.

A 750m long leakage anomaly has been identified at the Pinnacles North Project within hematite-altered rocks by geochemical RAB drilling, intersecting significant widths of anomalous copper, silver, gold, zinc, bismuth and molybdenum.

The next stage of Reverse Circulation (RC) drilling confirms these geochemical results and indicates the leakage anomaly, which is open down plunge and along strike to the east, is strengthening at depth.

Recent RC drilling results include 15m at 152 ppb Au from 75m incl, 3m at 313 ppb Au and 0.24 per cent Cu from 81m and 3m @ 0.30 per cent Cu and 0.45 per cent Pb and 0.10 per cent Zn from 66m.

These early results are highly encouraging, particularly considering the drilling to date has only been within the top ~75m of the weathered zone and where the gold and base metal concentrations can be dispersed and subdued.

Meanwhile, at the Trinity 1 project a potential new style of iron oxide mineralisation not previously seen in the Tennant Creek Mineral Field has been identified following first-pass stratigraphic RC and diamond drilling.

The mineralisation has similarities to other iron-oxide provinces with features, including a large felsic and mafic intrusive/extrusive centre, intense “red rock” hematite and chlorite alteration, brecciation, and minor disseminated and vein-fill sulphides.

While assay results are awaited for a number of projects, the drilling continues with the exploration focus now on early stage testing of Tier 1 projects in the Northern Project Area (NPA), encompassing the Vivid, Olympus, Delphi, and Macedon targets, and in the Ivanhoe-Colombard area, testing of the Drakkar, Colombard 1 & 2 and, Trireme targets.

It is anticipated that the next milestone at the Pinnacles North Project – which includes diamond drilling – will commence once the drill rig completes the first phase in the Northern Project Area.

All exploration expenditures being incurred at Tennant Creek are now covered by the previously announced $18 million Joint venture with Ivanhoe Australia.

 

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