The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Eastern Metals (EMS) completes an initial reconnaissance visit to the Barrow Creek area in the Northern Territory ahead of upcoming work programs
  • The purpose of the visit was to examine soil sampling traverses planned to test for lithium-bearing pegmatites and follow-up on anomalous copper trends
  • Managing Director and CEO Wayne Rossiter said the visit was the first time the company had its “boots on the ground” in the NT
  • Expansion drilling at the Home of Bullion copper mine will commence once the Sacred Site Clearance Certificates (SSCC) have been received and once a drill rig is available
  • EMS is down 5.88 per cent and trading at 16 cents per share at 11:33 am AEST

Eastern Metals (EMS) has completed an initial reconnaissance visit to the Barrow Creek area in the Northern Territory ahead of upcoming work programs.

The Barrow Creek area is part of the Arunta project and includes the Home of Bullion copper mine.

The purpose of the visit was to examine soil sampling traverses planned to test for lithium bearing pegmatites and follow-up anomalous copper trends.

Reconnaissance focused on EL32027 for which all necessary approvals for low impact exploration activities are to hand.

The company said access for soil sampling traverses has been scouted and suitable contractors and field equipment have been identified.

Copper-stained samples have been collected rom the surface at the Mulbangas copper prospect 10 kilometres to the northwest of Home of Bullion.

Managing Director and CEO Wayne Rossiter said the visit was the first time the company had its “boots on the ground” in the NT.

“We were particularly pleased to find oxide copper mineralisation at the Mulbangas copper prospect along the known copper anomalous trend from the Home of Bullion mine,” he said.

“We were also pleased to have identified outcropping pegmatites in the region which will form the basis of planned pegmatite mapping and sampling activities.”

The company’s mine management plan for the Home of Bullion mine has been approved by the NT Department of Industry, Tourism and Trade with revised Environmental
Bonds lodged.

Expansion drilling at Home of Bullion will commence once the Sacred Site Clearance Certificates (SSCC) have been received and once a drill rig is available.

On the market, EMS was down 5.88 per cent and trading at 16 cents per share at 11:33 am AEST.

EMS by the numbers
More From The Market Online
The Market Online Video

Market Close: ASX signs off on a sigh with all sectors red-lining

The ASX200 finished 1.3 per cent down with every sector in the red and Industrials and Real Estate brittle and bruised as bot…

Week 17 Wrap: BHP-Anglo deal helps push down ASX; US data of concern but AI bulls happy

The big thematics and headlines that drove the ASX this week, plus, the headlines I think…
The Market Online Video

Market Update: ASX on red alert with all sectors below the surface

The ASX200 is trading down around 1.1% with all eleven sectors in the red. Real-estate has…

ResMed spikes on robust results and global growth spurt

ResMed shares have climbed following the release of the company's strong Third Quarter FY2024 results.