Emmerson Resources Limited (ASX:ERM) is expecting news of a proposed mining and exploration joint venture agreement at its Tennant Creek projects in the Northern Territory and has been granted a trading halt.
The ASX granted the halt until the start of normal trading on Wednesday, 5 September 2018 or when the announcement is released to the market, whichever occurs earliest.
Emmerson’s shares last traded at 6.6 cents.
The company has a number of activities planned this quarter at the Tennant Creek gold projects as well as at its projects in New South Wales.
Among the activities at Tennant Creek are processing and reviewing airborne electromagnetic (EM) anomalies and continuing the planning, permitting and approval process for additional small mines.
It also proposes to finalise the planning and commercial terms for the underground exploration drive and drill program at Edna Beryl.
In NSW, Emmerson recently received encouraging copper and gold geochemical results at its Whatling Hill Copper Gold prospect within the Fifield project.
The soil sampling supports previous rock chips that assayed up to 2% copper and 0.25 g/t gold.
A round of auger drilling is planned to test for immediate extensions to Whatling Hill and also test a regional target 5 kilometres to the south.