Emmerson Resources Limited (ASX:ERM) is testing a number of new targets generated from the recent 10,000-line km high resolution drone aeromagnetics flown across the Southern Project area (SPA) of its Tennant Creek Project in the Northern Territory, Australia.
Highlights
• New drone technology, combined with innovative data processing and structural interpretation, has provided new insights and vectors to the ironstones that typically host the high-grade gold mineralisation.
• Initial 1,700m Reverse Circulation drill program will test the newly identified Traminer and Analytic targets located along strike from the high-grade Chariot gold mine and TC8 copper mine.
• Further drilling of a portfolio of similarly generated projects to continue next year after the Northern wet season.
• Programme operated and managed by Emmerson and funded as part of the $5.0m earn-in to the SPA by Joint Venture (JV) partner Tennant Consolidated Mining Group (TCMG).
• Downhole magnetic survey to commence at Emmerson’s 100%-owned Hermitage copper-gold discovery at Tennant Creek late this month.
“The return to testing greenfield drill targets in the JV ground is a very exciting development as it has the potential to add to the high-grade gold deposits already in the Mining JV and where Emmerson receives a free carry, 6% gold production royalty,” Managing Director, Rob Bills, said.
“Drilling has commenced at the Analytic project based on a new interpretation of the structure and source of the magnetics. Historic drilling in the vicinity intersected 24m at 6.3g/t gold from 246m including 3m at 48.3g/t gold (ANRC001).
“A further five drill holes will test similarly generated targets at the Traminer East and West projects – subject to continuing favourable weather conditions ahead of the onset of the wet season.
“Further highly ranked projects within the Joint Venture area will continue to be generated and drill tested during the 2023 field season – along with projects in the brownfields/near mine environments that have potential for near term advancement to the mining schedule.”
Analytic and Traminer – drill testing for high grade gold
The Analytic and Traminer projects are located within the SPA where JV partner Tennant Consolidated Mining Group (TCMG) is earning an interest by funding the exploration programme.
The new high-resolution drone magnetic data has been processed to enable refinement of drill targets that indicate untested ironstones, which are the typical host to the high-grade gold and copper mineralisation.
An initial 1,700m, six drill hole program is underway to test these new geophysical and geological models, with results to inform future drilling.
Several historical holes at Analytic 1 attest to the potential for mineralisation, in particular ANRC001 which intersected 24m at 6.3g/t gold from 246m including 3m at 48.3g/t gold and ANRC004 which intersected 3m at 7.76g/t gold from 225m.
Similarly, at the Traminer West and East projects anomalous gold and copper in surrounding historic drill holes indicates untested potential.
These new targets occur along a major, east-west trending corridor of mines that has historically been referred to as the “Wine Line”. To the west, the corridor hosts the high-grade Chariot and Malbec gold mines, and to the east the TC8 gold-copper mine.
Drilling is anticipated to be completed in December 2022, with assay results likely available in February 2023. Initial drill testing of further drone generated targets will occur throughout 2023, with the aim of refining our exploration vectors and ranking criteria.
Separately, a downhole magnetic survey will be completed at Emmerson’s 100%-owned Hermitage copper-gold discovery, following the completion of the successful Phase 2 drill program. The outcomes of the survey will help refine targeting for the planned Phase 3 program in early 2023.
For further information please visit: https://www.emmersonresources.com.au/
