Total
0
Shares
Sourced: Shutterstock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Emerald Resources NL (EMR) has significantly expanded its Cambodia tenement portfolio by 392 square kilometres
  • The company’s application for prospective land around its Okvau Gold Project was approved by the Cambodian Ministry of Mines and Energy
  • The new licences include the Preak Khlong and O’Khtung prospects
  • While under-explored, these licences have shown similar mineralisation styles to Emerald’s 1.1 million-ounce Okvau project
  • To unlock their potential, the company has planned drilling and soil sampling activities
  • Emerald Resources is up 16.1 per cent and shares are trading for 3.6 cents each

Emerald Resources NL (EMR) has significantly expanded its holdings around the 1.1 million ounce Okvau Gold Project in Cambodia.

The company was notified by the Cambodian Ministry of Mines and Energy (MME) that its application for 392 square kilometres of highly prospective land south of Okvau, was approved.

Emerald’s total ground position in Cambodia now equals 1426 square kilometres.

The MME’s approval will allow Emerald to carry out gold exploration. The licences will be formally issued following the completion of standard documentation.

“These exploration licences complement the company’s existing tenement portfolio in Cambodia and are in a relatively under-explored region,” Managing Director Morgan Hart said.

The Preak Khlong and O’Khtung exploration licences are considered highly prospective for gold mineralisation and display similar mineralisation characteristics as the Okvau Gold Project.

While exploration at these prospects has been limited, airborne magnetics have identified two areas (Preak Khlong NW and Gossan) with interpreted intrusive hornfels (a type of rock) alteration haloes at Preak Khlong.

At the Preak Khlong NW Prospect, a 100 metre-wide alteration zone hosts a gold mineralised corridor with a thickness of 10 to 30 metres. A total of seven reverse circulation (RC) holes and six diamond holes have been drilled at the Preak Khlong Prospect which returned highly encouraging results.

These include; one metre at 16.16g/t gold from 74 metres, three metres at 8.92g/t gold from 73 metres, and four metres at 10.25g/t gold from 56 metres.

At the Gossan Prospect, the previous drilling resulted in intersections of; three metres at 12.94g/t gold from 38 metres, 3 metres at8.51g/t gold from 58 metres, and two metres at 13.49g/t gold from 89 metres.

Within the western part of the O’Khtung licence, soil sampling has identified several north-east trending zones with anomalous gold plus silver, copper, lead, zinc and arsenic.

A total of 19 diamond holes and three RC holes have been drilled in these areas which returned anomalous but not significant gold results. However, a high priority
gold anomaly has been detected at the Panther Prospect which remains open.

Emerald has planned exploration activities including regional shallow soil sampling programs testing the un-sampled portions of both licences to identify all potential gold in soil anomalies.

The Okvau Gold Project is Emerald’s most advanced project. It is located approximately 275 kilometres north-east of Phnom Penh in the Mondulkiri province.

Emerald Resources is up 16.1 per cent and shares are trading for 3.6 cents each at 1:22 pm AEDT.

EMR by the numbers
More From The Market Herald

" AKORA Resources (ASX:AKO) gets pleasing assays from Madagascar project

AKORA Resources (AKO) has received assays from resource drilling at the Bekisopa project in Madagascar.
Carawine Resources (ASX:CWX) - Non Executive Chairman, Will Burbury

" Carawine Resources (ASX:CWX) begins diamond drilling at Red Bull

Carawine Resources (CWX) has begun diamond drilling on two highly significant bedrock conductors at the Red Bull tenement in Western Australia.

" Woomera Mining (ASX:WML) begins Phase 2 drilling at Mt Venn

Precious and base metals explorer Woomera Mining (WML) has launched a Phase 2 reverse circulation drilling program at its Mt Venn Project in
Challenger Exploration (ASX:CEL) - Exploration Manager, Stuart Munroe

" Challenger Exploration (ASX:CEL) extends mineralisation at Sentazon

Challenger Exploration (CEL) has released results from the next eight holes of its drilling program at the Sentazon prospect within the Hualilan gold