- Emmerson Resources (ERM) has signed a strategic alliance with Longreach Mineral Exploration to apply new technologies to the discovery of gold and copper
- The technology is expected to include machine learning, as well as green rock and seismic geophysics, which could improve the success rate in discovery
- Under the alliance, Emmerson will remain the operator and manager of exploration programs, with each party to shoulder equal costs
- The Sebastopol in New South Wales will be the first focus of the alliance and will be drill tested later this year
- Emmerson Resources’s share price remains unchanged today, with securities priced at 12 cents each
Emmerson Resources (ERM) has signed a strategic alliance with Longreach Mineral Exploration to apply new technologies to the discovery of gold and copper.
Such technologies are expected to include machine learning, as well as green rock and seismic geophysics, which are expected to bolster Emmerson’s existing capabilities and provide a more efficient pathway to project generation and early-stage exploration.
Under the terms of the alliance, either party may submit a project for consideration. Once accepted by both sides, it will then become a strategic alliance project, in which Emmerson and Longreach will shoulder 50 per cent of the associated costs with an agreed work program.
In addition, the work program will be led by a nominated Manager, who will receive a six per cent management fee for their services.
Rob Bills, Managing Director of Emmerson Resources, said the strategic alliance with Longreach furthers the company’s broader aim of applying new technologies and techniques to minerals discovery.
“The Longreach group consists of highly successful oil and gas exploration and service companies, with great capacity and capability in the application of machine learning across big data sets such as 3D seismic imaging and interpretation, airborne geophysics and deep learning tools,” Rob said.
“This combined with Emmerson’s systematic science-based track record of discoveries in the mineral industry provides a powerful partnership to generate or identify new gold and copper opportunities,” he added.
Emmerson’s Sebastopol gold project in New South Wales will be the initial focus of the strategic alliance, which is scheduled to be drill tested later this year. Emmerson will conduct the agreed work program, and will, therefore, receive the management fee.
Sebastopol was identified by Emmerson in 2016, in collaboration with Duke Exploration — formerly Kenex — as part of a bigger gold-copper project. While the potential for porphyry gold was later downgraded, the project has been retained due to its lack of modern, detailed exploration work.
Emmerson Resources’s share price remains unchanged today, with securities priced at 12 cents each at 10:33 am AEST.