Emmerson Resources Limited (ASX:ERM) has a three-pronged strategy with gold as the primary focal point and today managing director Rob Bills outlined progress to investors during a Proactive online session.
The company has a revenue-producing gold royalty stream, is exploring in the prolific Tennant Creek Mineral Field in the Northern Territory as well as in the Molong Volcanic Belt in NSW.
Drilling to start
The latter, which hosts Newcrest Mining’s giant Cadia Valley copper-gold mines, has been the centre of considerable interest in recent times owing to the Boda discovery by Alkane Resources Limited (ASX:ALK).
Emmerson has five projects that contain many attributes of known deposits in the region of Central West NSW and is set to commence drilling at the Kiola Copper-Gold Project.
NT Bullion alliance
In early May the company entered a strategic alliance with NT Bullion Ltd for the Northern Project Area (NPA) at Tennant Creek Mineral Field with NT Bullion to invest $2 million in Emmerson shares.
The first tranche of shares will raise around $200,000 and the second tranche will raise around $1.8 million, with the completion of both tranches of the placement due by May 31, 2020.
Formation of an exploration earn-in and joint venture will also see NT Bullion fund the next $5 million of NPA exploration.
To view Rob Bills’ presentation from today, please click here.