- Emmerson Resources (ERM) has begun a diamond drilling program at its Kiola gold-copper project in NSW
- The aim of this program is to test multiple targets which lie within the highly anomalous Kiola Geochemical Zone
- Recent works have confirmed that the Kiola Geochemical Zone contains attributes of world-class porphyry gold-copper mineralisation
- Depending on the results from these holes, Emmerson may extend them to provide more information at depth
- Emmerson has ended the day 4.76 per cent in the green with shares trading for 11 cents each
Emmerson Resources (ERM) has begun a diamond drilling program at its Kiola gold-copper project in NSW.
The Kiola project lies within the highly prospective Molong Belt, which is host to Alkane Resources’ Boda copper-gold discovery and Newcrest’s Cadia-Ridgeway deposits.
This program will consist of five holes, for a minimum of 2000 metres, and it is expected to be completed in June. Results will then be available in August.
It will be co-funded by a $100,000 New Frontiers Cooperative Drilling grant from the NSW Government.
The aim of this drilling program is to test the Nasdaq Skarn, South Pole, Kiola, and Right Hand Creek targets, which are located within the highly anomalous Kiola Geochemical Zone.
Despite strong indications of gold-copper mineralisation from the surface, no deep drilling has been completed here.
Recent works have confirmed that the Kiola Geochemical Zone contains attributes of world-class porphyry gold-copper mineralisation.
Induced polarisation (IP) geophysics in late 2019 re-confirmed the depth potential of these known targets.
“We are pleased to commence drilling at Kiola after implementing a number of measures to mitigate COVID-19 health risks in accordance with state and national protocols,” Managing Director Rob Bills stated.
“Stage one drilling at Kiola will test priority targets within the Kiola Geochemical Zone, a 15 square kilometre area of elevated gold and copper geochemistry, historic copper workings, and skarns that contain gold, copper and zinc,” he added.
Shallow historic drilling in this area has intersected copper, gold, and base metal mineralisation.
Significant results include eight metres at 2.52g/t gold and 0.19 per cent copper including three metres at 6.43g/t gold from 23 metres.
Soil and rock chip sampling has returned results grading up to 19.6g/t gold and 2.16g/t copper.
A total of three holes will be drilled at this target.
South Pole, Kiola, and Right Hand Creek
As a group, these targets feature highly anomalous geochemistry, returning up to 19 per cent copper and 4.5g/t gold.
These targets also feature several historic mines, extensive geophysical anomalies across IP lines, and favourable geology.
One hole will be drilled at Right Hand Creek to test a zone of highly elevated copper and gold mineralisation while the last hole will test a highly chargeable IP geophysical anomaly.
Depending on the results from these five holes, Emmerson may extend them to provide more information at depth.
Emmerson has ended the day 4.76 per cent in the green with shares trading for 11 cents each in a $44.60 million market cap.