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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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Tuesday, November 03, 2009

Emmerson Resources picks up momentum exploring for Tier 1 gold targets

by Proactive Investors company news image

Emmerson Resources (ASX: ERM) has three drill rigs active across several Tier 1 (>1.0Moz gold equivalent) Greenfields targets under the recently concluded $18.0M JV with Ivanhoe Australia.

Drilling has gained momentum in the Trinity Area – primarily focussed on building the undercover geological picture ahead of targeting the mineralisation.

A regional RAB program is underway with several shallow geochemical targets already identified within the Trinity Project area, including Pinnacles North.

Almost 10,000m of combined Reverse Circulation and pre-collar drilling completed.  Visible copper sulphides intersected in magnetite ironstone at the Colombard prospect (assays awaited).

Diamond drilling was focussed on stratigraphic drilling over the Trinity 1 target and several other Tier 1 targets.

Large polymetallic geochemical anomaly confirmed over a strike extent of 750 metres from shallow RAB drilling at Pinnacles North.

Emmerson has a strong cash position of $12.5 million at 30 October 2009 which, the company said, based on current projections, will be maintained.

First pass RAB drilling was completed at its Pinnacles North Prospect in the Northern Territory during the September quarter and has identified a 750 metre long geochemical anomaly.

The anomaly is open down-dip and down-plunge plunge and to the east along strike.

Anomalous results from the RAB drilling include: 31m @ 0.12% Cu, 1.52 ppm Ag & 19 ppb Au incl. 4m @ 57 ppb Au & 0.12% Zn; 40m @ 0.10% Cu, incl. 1m @ 742 ppb Au, 0.1% Bi, 16.33 ppm Mo & 30% Fe (EOH); 27m @ 0.12% Cu, 29 ppb Au & 2.06 ppm Ag (EOH); and 4m @ 0.40% Cu, 87 ppb Au, 1.71 ppm Ag & 0.14% Zn.

The next stage of RC drilling at the Pinnacles North Project has confirmed these geochemical results, indicating that the geochemical anomaly is strengthening at depth.

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

The Pinnacles North project is part of the greater Trinity area, connected via a prominent north-south trending fault, and was first identified as a compelling Tier 1 target with the assistance of the new gravity geophysics acquired by Emmerson over the Tennant Creek Mineral Field.

A total of 6,848 metres of Reverse Circulation (RC) drilling was completed during the September quarter which focused on testing selected regional greenfields targets, including detailed stratigraphic drilling within the Trinity and Colombard project areas.

An additional 2,910 metres of pre-collar drilling was completed in advance of diamond drilling (DDH). Another 2,693.8 metres of DDH was completed during the quarter, which focused on Trinity 1 and select greenfields targets to assist with geological interpretation and the refinement of the geophysical models.

Another 11,656 metres of regional Rotary Air Blast (RAB) drilling was completed across several greenfields targets to test for geochemical dispersion anomalies.

Emmerson Resources is an Australian-based gold company focused on the exploration and development of the richly-endowed Tennant Creek Mineral Field (TCMF) in the Northern Territory of Australia.

The company has a dominant ground position covering some 2,700km2. Emmerson is progressing exploration on the TCMF in Joint Venture with Ivanhoe Australia Limited pursuant to a farm-in agreement.  Ivanhoe is sole funding $28 million exploration to acquire and retain 51%.

Emmerson has implemented an aggressive exploration program aimed at discovering a new generation of Au-Cu deposits in the Greenfields environment.

The strategy is based around the application of modern and innovative exploration techniques to reactivate the world class Tennant Creek Mineral Field - a field which produced over 5.5million ounces of gold and 470,000 tonnes of copper since its discovery in the 1930s.

The Company’s asset base also includes ownership of the only gold treatment facility in the region (the Warrego carbon-in-pulp processing plant) and a substantial geological database plus extensive infrastructure and equipment.

Emmerson is headed by a group of experienced Australian mining executives including former MIM and WMC mining executive Andrew McIlwain as Non-Executive Chairman, and former senior BHP Billiton and WMC executive Rob Bills as Managing Director and CEO.

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