- Emmerson Resources (ERM) has received remaining assays from drilling completed at two prospects in the Northern Territory at the end of 2018
- This drilling was conducted by Emmerson’s former joint venture partner with samples going unassayed until recently
- Results from the Black Snake prospect delivered grades of up to 24.4g/t and 54g/t gold
- New results from the Susan prospect peaked at 3.93g/t gold, however this builds on previously reported grades of up to 246g/t gold
- Emmerson and its new joint venture partner, Tennant Consolidated Mining Group, are planning to drill various projects in the area with drilling already underway at Mauretania
- This drilling will ultimately feed into a mineral resource estimate
- Company shares are up 11.3 per cent and are trading at 7.9 cents
Emmerson Resources (ERM) has received more results from the Black Snake and Susan prospects which lie within the Northern Territory’s Tennant Creek district.
The materials company is focused on exploring the Tennant Creek Mineral Field which is one of Australia’s highest-grade gold and copper fields — having produced more than 5.5 million ounces of gold and 470,000 tonnes of copper.
Today’s results come from a drilling program that was undertaken at the end of 2018. The reason they’ve just been announced is because samples have only recently been received by the lab for assaying after not being delivered by Emmerson’s former joint venture partner.
Territory Resources completed the reverse circulation drilling campaign more than two years ago, however the the companies ended their joint venture in November 2020. At the time, Emmerson said the decision reflected its goal of delivering its royalty business model and accelerating exploration.
New results from Black Snake include eight metres at 15g/t gold from 16 metres including four metres at 24.4.g/t gold, nine metres at 7.96g/t gold from six metres including one metre at 54g/t gold, and six metres at 7g/t gold from 18 metres including three metres at 12.6g/t gold.
New high-grade results from Susan include five metres at 3.93g/t gold which indicates extensions of the gold-bearing oxide zone.
These results build on previous results from the prospect which include 11 metres at 48g/t gold from 26 metres including nine metres at 58.5g/t gold and one metre at 246g/t gold.
“These latest results continue to advance our two-fold strategy of adding value through discoveries and extensions to known high-grade gold mineralisation plus build the pipeline of small mines, where Emmerson receives a low-risk, free-carry 6 per cent production royalty stream,” Managing Director Rob Bills said.
Emmerson and its new joint venture partner, Tennant Consolidated Mining Group, are planning a drilling program over various projects in the area, with drilling already underway at Mauretania.
The drilling will support a mineral resource estimate for these areas.
Company shares are up 11.3 per cent and are trading at 7.9 cents at 12:56 pm AEST.