Join our daily newsletter At The Bell to receive exclusive market insights
- Emerald Resources (EMR) reports “exceptional” drill results from the Neptune Gold Prospect in Western Australia
- Bullseye Mining completed definition drilling at the prospect, which aimed to target extensions and infill the known mineralisation
- Results from the drilling included nine metres at 9.44 grams of gold per tonne (g/t) from 17 metres and three metres at 29.85 g/t from 45 metres
- Emerald says the results will be used to estimate a maiden JORC mineral resource
- Emerald Resources is down 2.79 per cent, trading at $1.05 at 2:29 pm AEST
Emerald Resources (EMR) has reported “exceptional” drill results from the Neptune gold prospect in Western Australia.
The Neptune Prospect is a 430-metre south-eastern extension of Bullseye Mining’s Boundary prospect, located within the North Laverton gold project.
Emerald Resources acquired the miner for $117 million in January, resulting in Emerald claiming 1200 square kilometres of landholding and three gold projects, including the North Laverton gold project.
Bullseye Mining completed 14,341 metres of resource and mine definition drilling at the prospect, which aimed to target extensions and infill the known mineralisation.
Results from the drilling included nine metres at 9.44 grams of gold per tonne (g/t) from 17 metres, and three metres at 29.85 g/t from 45 metres.
Emerald said the assays increased the density of information on the Neptune and Neptune North prospects, and will be used to estimate a maiden JORC mineral resource.
“As announced on June 3, 2022, this drilling program and future exploration and development will be funded using Bullseye’s existing cash reserves and ongoing pro-rata entitlement offers to Bullseye shareholders as required,” Emerald Managing Director Morgan Hart said.
Emerald Resources was down 2.79 per cent, trading at $1.05 at 2:29 pm AEST.
