www.emmersonresources.com.au/index.htm
Emmerson Resources commands a dominant tenement position in Australia's Tennant Creek Mineral Field. This field is characterised by extremely high-grade gold & gold-copper deposits, with a historical production in excess of 5.5 million ounces of gold and 488,000 tonnes of copper. Emmerson Resources owns the Warrego Gold Plant, located 35 kilometres north-west of Tennant Creek. The plant has an annual production capacity of 300,000 tonnes and was last operated in December 2005, following complete refurbishment in early 2003.
Emmerson Resources ups ante, searching for Tier 1 gold targets
Emmerson Resources (ASX: ERM) was active during the December quarter at Tennant Creek in the Northern Territory, under the Company’s landmark $18 million Joint Venture with Ivanhoe Australia. This is subject to a farm-in agreement whereby Ivanhoe is sole funding $28 million exploration to acquire and retain 51%.
Systematic drill testing of 14 greenfields and two brownfields Tier 1 (+1.0 Moz gold equivalent) targets were undertaken by Emmerson. Three drill rigs were active across Emmerson’s large tenement holding in the Tennant Creek Mineral Field under the recently concluded $18.0M JV with Ivanhoe Australia.
A bonanza gold intersection of 2m @ 50.6 g/t Au was encountered from Pinnacles North. A high-grade copper intersection of 1.9m @ 6.49% Cu returned from Rising Star geophysical anomalies, including 0.6m @ 18.3% Cu.
Further assay results are awaited from drilling activities during the Quarter.
Emmerson undertool 8,556 metres of Reverse Circulation (including pre-collars) and Diamond Drilling completed including deeper drilling at Pinnacles North plus early stage testing of several Tier 1 targets in the Northern Project Area (NPA) including Vivid, Olympus, Macedon, Delphi and Rising Star.
Over 19,000 metres of regional RAB drilling was completed prior to commencement of the northern wet season resulting in the identification of several shallow geochemical targets.
Emmerson is systematically testing the deep pipeline of Tier 1 targets (potential to host +1.0Moz gold equivalent) it has identified using state-of-the-art geophysical techniques and the application of new geological concepts to the search for a new generation of mineral deposits in this world-class mineral province.
The Company’s asset base also includes ownership of the only gold treatment facility in the region (the Warrego carbon-in-pulp processing plant) and a substantial geological database plus extensive infrastructure and equipment.
The company had cash reserves at the end of the quarter of $11.7m.
