Proactive Investors - Run By Investors For Investors

Emmerson Resources hits bonanza grade gold in first Mauretania diamond hole

The hole returned 15 metres at 45.2 g/t gold from 92 metres, including 4 metres at 158 g/t from 97 metres.
Gold sample from Tennant Creek
The company will begin a Sub-Audio Magnetics geophysical survey this month

Emmerson Resources Limited (ASX:ERM) has hit bonanza grade gold of 15 metres at 45.2 g/t in its first diamond drill hole at Mauretania project within the Tennant Creek project in the Northern Territory.

This intersection from 92 metres included 4 metres at 158 g/t gold from 97 metres and the hole was abandoned in mineralisation at 128.75 metres due to ground conditions.

It was one of three diamond holes for about 475 metres in a program completed in May.

Visible gold was identified in the lower section of the second hole and visible supergene copper minerals malachite and azurite were identified in the bottom section of the final hole.

Emmerson’s managing director Rob Bills said: “This early assay result from our first diamond drill hole at Mauretania demonstrates the exceptionally high-grade nature of the mineralisation at shallow depths.

“Given its association with hematite, provides exciting potential for discovering further similar mineralisation across the Tennant Creek Mineral Field.

“On a comparative basis, this early result from our 100%-owned Mauretania project suggests the previous program of RC drilling underrepresented the gold grades.

“Furthermore, the indicative grades at Mauretania exceed those seen during similar stage drilling at our recently commissioned Edna Beryl Gold Mine which has a mined head grade of about 30 g/t gold.”

Location of Emmerson’s 100% tenement package and recently completed drill program targets.

Shares are up 0.9 cents, or 12.5%, in early trade to 8.1 cents.

Assay results from the final two holes as well as the bottom section of the first hole are expected later this month.

READ: Emmerson Resources’ drilling and geophysics funded by Edna Beryl gold royalty

Emmerson is conducting exploration in the Northern Project Area (NPA) and Southern Project Area (SPA) of its Tennant Creek project.

The company owns 100% of the NPA, which is around 75% of the total project area, and strategic partner Territory Resources is earning 75% in the SPA by funding $5 million of exploration expenditure within five years.

At Mauretania, which is within the NPA, initial results from the first hole drilled provide further encouragement and better definition of the shallow, oxide gold zones.

Difficult drilling conditions continued to impede drilling progress, resulting in early termination of two of the three holes, including the planned deeper portion of the first hole.

Diamond drilling did successfully advance the previous program of RC drilling.

Gold enriched by supergene processes

The exceptionally high-grade gold intersection of 15 metres suggests the gold has been significantly enriched by supergene processes.

This hole also intersected shallower zones of mineralisation of 1-metre at 10.8 g/t from 75 metres and 4 metres at 1.72 g/t from 80 metres, providing further evidence of the importance of better defining the extent of the supergene interface.

Bills said: “The diamond drilling at Mauretania is part of a two-stage exploration program with the next stage consisting of deployment of a Sub-Audio Magnetics (SAM) geophysical survey to map out the strike extent of the mineralisation.

“We thank the Northern Territory Government for awarding collaboration funding to trialling this new technology and look forward to seeing the results.”

Visual and analytical results to date have increased Emmerson’s confidence in the potential for economic mineralisation in the shallow oxide gold zone.

Mauretania schematic cross section 1 with the white call out boxes representing previously reported results.

SAM survey planned

The extent of the deeper primary gold zone remains largely untested and delineation of this zone will be targeted in a forthcoming SAM survey, which is expected to begin in mid-June.

SAM has been developed for simultaneously mapping electrical and magnetic responses and is a high definition, ground-based technique that has applications to shear hosted gold and copper.

READ: Emmerson Resources maiden drilling hits edge of potential porphyry copper system

In addition, SAM will also be applied to the Black Snake-Three Thirty area within the SPA.

As these projects are greenfields in nature and the efficacy of the SAM technologies is largely unknown, Emmerson was awarded a grant for 50% of the costs under the Northern Territory CORE initiative.

Results of the SAM survey and the remaining assays from the May 2019 drilling program will be used to plan the next phase of drilling at Mauretania.

View full ERM profile View Profile

Emmerson Resources Ltd Timeline

Related Articles

Workers underground at Prieska mine
April 17 2019
Orion has sorted an ownership milestone as it prepares a BFS and awaits a mining right.
1547791194_RNX-757.JPG
January 18 2019
The company’s focus is the Yandal East Gold Project and it also has base metal exposure through a prospective Canadian asset.
Electric vehicles
May 01 2019
An investment at the project level from major commodities trader Talaxis is helping it along.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use