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Emu NL drills for gold in Nevada

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Gold explorer Emu NL will soon have the drill spinning at its gold project in Nevada in a region that has unearthed large discoveries.

A U.S. subsidiary of Emu NL has received approval to drill two drill holes at a prospect called Speedway subject to lodging a rehabilitation bond which is underway.

Nevada produced about 5 million ounces of gold in 2014 from 30 producing mines providing a prize to explorers that have a commercial discovery.

The two drill holes are targeting an Audio Magneto-Telluric (AMT) feature within inferred Palaeozoic rocks below younger pediment sediments and volcanics.

The AMT feature is key as the size (~1.5km x ~0.5km) and nature of it and the geological setting provides promise.

In comparison with other large gold systems in the south-west USA, the AMT feature could represent a large alteration system that is usually associated with these gold deposits.

 

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Quick facts: Emu NL

Price: 0.038 AUD

ASX:EMU
Market: ASX
Market Cap: $6.8 m
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