EMU NL (ASX:EMU) has secured the right to earn an 80% interest in 3 EPM’s (Exploration Permits for Minerals – being Georgetown, Perpendicular Peak & Fiery Creek) under a farm-in and joint venture agreement with Rugby Resources Ltd .
These EPMs cover 850 square kilometres in the Georgetown mining district, North Queensland, Australia
The Georgetown mining district, within the 39,000 square kilometre local government area of Etheridge and the adjoining 29,500 square kilometre local government area of Croydon, has a long mining history. The district includes the settlements of Georgetown, Einasleigh, Gilbert River, Mount Surprise and Croydon. More than 1,000 mines, prospects and mineral occurrences have been identified within the district including the Kidston mine, one of Australia’s largest ever gold producing mines.
Discovered in 1907, the Kidston mine recorded production of 5.1moz (145 tonnes) of gold in the 16 years between 1985 to 2001 alone. It has been estimated that the district produced more than 650,000 oz of gold in the period between the late 1800’s and early 1900’s.
Pre Kidston, the most significant historic production came from the Cumberland mine which produced over 65,000 oz gold between 1872 and 1897. That mine is located just 20kms west of Georgetown.
“EMU has signed an agreement with Rugby Resources Ltd which gives EMU the opportunity to earn up to 80% of a richly endowed, but under-explored area of Far North Queensland with a history of significant mining activity and mineral discoveries,” management stated.
“There are multiple occurrences of precious metals, battery metals, numerous base and strategic minerals in the Georgetown mining district. In terms of systematic modern exploration, the tenements are effectively virga intacta.
“Gold has been the main mineral mined in the district including from the prolific Kidston Mine, one of Australia’s largest ever gold mines. The Georgetown tenement package provides significant scale and adds dimension to EMU’s highly prospective WA project portfolio.
“It presents a remarkable opportunity for the discovery of gold and other minerals in demand required for electric vehicles and the global energy/carbon balance transition.”
For further information please visit: https://www.emunl.com.au/
