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Emmerson Resources Ltd

Emmerson Resources extends high-grade gold mineralisation at Tennant Creek with more bonanza gold grades

The results have increased Emmerson’s confidence in the potential for economic mineralisation in both shallow oxide and deeper primary gold zones at the Mauretania prospect.

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Emmerson shares were up more than 9% to 12 cents each in intra-day trading

Emmerson Resources Limited (ASX:ERM) has further highlighted the development potential of its Tennant Creek landholding with final results from diamond drilling completed in May.

The three-hole, 476-metre program provides better definition of gold grades within the shallow oxide zone of the Mauretania prospect, which is within the 100%-owned Northern Project Area (NPA).

Drilling conditions impeded the program, causing the early termination of two of the three holes including a planned deeper portion of the first hole.

Follow-up drilling is expected to be undertaken once all new drilling and geophysical datasets are integrated.

 

Emmerson managing director Rob Bills said the exceptional assay results from the first diamond drilling at Mauretania enhanced the previous reverse circulation results in the potentially open-pit oxide zone.

He added: “This drilling has also opened the potential of the primary mineralisation where results of 6 metres at 14.2 g/t gold indicate the high-grade gold extends at depth.

“We await results from SAM geophysical survey which aims to track this high-grade gold mineralisation undercover and provide guidance to the next round of drilling.

“On a comparative basis, these results exceed those seen during similar stage drilling at our recently commissioned Edna Beryl Gold, which is one of Australia’s highest-grade gold mines.”

READ: Emmerson Resources makes progress towards monetising Tennant Creek gold assets

Results from the lower section hole MTDD003, which previously assayed 15 metres at 45.2 g/t gold, returned a final intersection that increased to 20 metres at 38.5 g/t from 92 metres, including 4 metres at 158 g/t from 97 metres.

This hole previously returned a wide, high-grade gold intersection which was extended by 5 metres where it ended in mineralisation.

However, it still provided an almost complete grade and geological profile through the oxide zone and confirmed the high-grade gold mineralisation is associated with brecciated hematite-talc-chlorite ironstone,

READ: Emmerson Resources hits bonanza grade gold in first Mauretania diamond hole

Hole MTDD004 confirmed the continuation of high-grade primary gold mineralisation with 6 metres at 14.2 g/t from 201 metres including 3 metres at 25.1 g/t from 203 metres.

This primary gold zone is open both along strike and down-dip and previously intersected substantial primary gold mineralisation. However the recent result is the highest primary gold grade discovered to date.

Diamond drill MTDD005 returned 24 metres at 2.19 g/t from 104 metres to the end of the hole, including 7 metres at 4.83 g/t from 104 metres and 4 metres at 1.36 g/t gold, 2.04% copper and 0.21% cobalt, and support the continuation of oxide gold mineralisation.

The sub-audio magnetics (SAM) geophysical survey was completed in collaboration with the Northern Territory Geological Survey and is currently ongoing over the southern joint venture area.

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

Mauretaia is a greenfields discovery identified from recognising that high-grade gold and copper are associated with oxidised hematite fluids as seen at Emmerson’s other Tennant Creek discoveries Edna Beryl and Goanna.

This style of deposit is characterised by very high grades of gold (and copper in the case of Goanna) which are strongly controlled by structure and present difficult targets to intersect from surface drilling.

The SAM survey, which may have application at Mauretania to map the weakly magnetic deeper primary gold zone and conductive copper sulphide zone, was completed and awaits processing and integration of results.

SAM was successful in mapping the shear-hosted mineralisation at the Orlando copper-gold open pit at Tennant Creek, now owned by Evolution Mining Ltd (ASX:EVN).

Surveys are currently underway at the Black Snake and Thirty Three areas within the southern project area.

Despite these prospects being greenfields in nature and the efficacy of SAM largely unknown, Emmerson was successful in being awarded a grant for 50% of the costs under the Northern Territory CORE initiative.

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