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Emu NL shares rise on unveiling gold, silver potential in Chile

The soil results detected gold and silver in every sample.

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Emu NL shares rise on unveiling gold, silver potential in Chile

Emu NL (ASX:EMU) has confirmed the potential for gold and silver at its Vidalita project in Chile after analysing surface geochemical results.

The company’s shares were last trading 19% higher intra-day on Thursday, at $0.125.

Emu had collected 235 samples from the 2 kilometre X 3 kilometre area defined from surface prospecting.

Remarkably, the soil results detected gold and silver in every sample.

The highest gold result is 66 ppb and the highest silver result is 1.9 ppm. The majority of the soil samples contain tens to hundreds of ppb silver.

During January, further surface sampling was completed to infill existing lines, extending the sample coverage.

The results from these additional sample are expected in mid-February.

Moreover, Emu also completed mapping in January which showed evidence of mineralisation in several locations including several areas of ‘sinter’, a rock usually associated with epithermal systems.

The company is well funded with a cash balance of about $1.7 million as at 31 December 2016.

Quick facts: Emu NL

Price: 0.045 AUD

ASX:EMU
Market: ASX
Market Cap: $13.41 m
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