Emmerson Resources Ltd (ASX:ERM) has started drilling at Kiola Gold-Copper Project in the highly-ranked Molong Volcanic Belt of Central West New South Wales to test targets within the 15-kilometre Kiola Geochemical Zone.
No previous deep drilling has been conducted in this zone before despite strong indications of gold-copper mineralisation from surface.
Emmerson is using cutting-edge techniques with traditional exploration to outline porphyry and related vein-style gold-copper targets at relatively shallow depths.
In prolific zone
Kiola lies within the highly ranked Molong Belt, which also hosts Alkane Resources Limited’s (ASX:ALK) Boda copper-gold discovery and Newcrest Mining Limited’s (ASX:NCM) world-class Cadia-Ridgeway deposits
The current five hole diamond drill program for a minimum 2,000 metres is expected to be completed in late June 2020 with assay results expected in August.
This program will in part be co-funded by the $100,000 New Frontiers Cooperative Drilling grant from the NSW Government.
Right Hand Creek Mine shaft.
Variety of targets
Managing director Rob Bills said: “We are pleased to commence drilling at Kiola after implementing a number of measures to mitigate COVID-19 health risks in accordance with state and national protocols.
“We remain committed to protecting our employees, contractors and surrounding communities and look forward to drill-testing a variety of gold and copper targets across the project area.
“Stage 1 drilling at Kiola will test priority targets within the Kiola Geochemical Zone, a 15-kilometre area of elevated gold and copper geochemistry, historic copper workings and skarns that contain gold, copper and zinc.
“There has been no deeper drilling within the zone to test for the source of the gold and copper mineralisation.”
Highly ranked early-stage project
Emmerson’s Kiola project is one of the highest-ranked, early-stage gold-copper projects in the portfolio and is centred on the 15-kilometre Kiola Geochemical Zone (KGZ).
It encompasses favourable Ordovician age rocks that display anomalously high gold and copper geochemistry plus historical workings.
Recent work has confirmed that the KGZ contains many of the attributes of world-class porphyry gold-copper mineralisation and is divided into a northern area centred on the Nasdaq skarn and a southern area around the South Pole, Kiola and Right Hand Creek mine.
Some 15-line kilometres of Induced Polarisation geophysics collected in late 2019 reinforced the depth potential of the target areas, particularly when combined with the geochemistry, age dates, intrusion fertility plots and geology and taking into account the limited exposure of the Ordovician stratigraphy due to soil cover.
Shares are up almost 5% to 11 cents.
MD Rob Bills will present at a Proactive online conference tomorrow, May 27, from 12 noon AEST.
As well as speaking about the Kiola project, Bills will outline progress with the company's gold royalty business as well as exploration at the Tennant Creek Mineral Field in the Northern Territory, one of Australia’s highest-grade gold and copper fields.
Wednesday, May 27, 2020, 12 noon (AEST),
Link to register: click here
You will be able to view a webinar and presentation,
Please send any questions to John Phillips - [email protected] or phone 0431 597 771.