Emmerson Resources Limited’s (ASX:ERM) drilling has successfully intersected the outer zones of porphyry copper-gold style mineralisation from the first four holes drilled at the Kiola Project in NSW.
The best intersections include:
- 7.5 metres at 0.18% copper within a 42 metres wide zone of disseminated copper mineralisation (drill hole KIODD003);
- 3 metres at 0.19 g/t gold, 6.6 metres at 1.42% zinc and 0.14% copper (drill hole KIODD002); and
- 4.6 metres at 2.4% zinc and 0.19% copper, including 2.4 metres at 4.1% zinc and 0.27% copper (drill hole KIODD004).
Emmerson managing director Rob Bills said: “The first four holes drilled at Kiola has provided sufficient encouragement to commit to the next stage of exploration.
“A more detailed geophysical survey will assist with vectoring to the core of the deeper copper-gold mineralisation.”
Two diamond drill holes for about 2,000 metres are expected to commence in October 2020 at Emmerson’s Kadungle Project in NSW.
Emmerson and Longreach Mineral Exploration have reached an agreement that the Kadungle Project will be added to the exploration alliance portfolio, with exploration costs shared equally between the parties.
Importantly, in recognition of Emmerson’s investment in the early stages of exploration, any future joint venture will be structured on a 60% equity interest to Emmerson.
Bills said: “A further round of deep drilling is scheduled at Kadungle which is now an exploration alliance project with Longreach Mineral Exploration.
“This drilling is based on a new interpretation utilising vectors from our collaboration with the University of Tasmania (ARC Linkage project) that suggests Kadungle is a well mineralised (fertile) porphyry copper-gold system centred on the Mt Leadley and Mt Leadley South areas.”
Sebastopol Gold Project
Seven drill holes for about 1,500 metres are expected to commence in January 2021 at Emmerson’s Sebastopol Gold Project in NSW.
The greater Sebastopol area was originally identified by Emmerson for its porphyry copper-gold potential however minimal modern exploration across this historical high-grade goldfield provides potential for the discovery of orogenic gold deposits.
Fieldwork has now traced multiple subparallel veins, historical workings and prospects over an area of 4 square kilometres.
Bills added: “In addition, drilling is also planned across the high-grade Sebastopol Goldfield, with timing dependent on land access following seasonal cropping activities.”