Emmerson Resources Ltd (ASX:ERM) has commenced a 680-line kilometre airborne geophysical survey to pinpoint further high-grade cobalt, copper and gold deposits within the Tennant Creek Project in the Northern Territory.
The survey is over a highly prospective belt of rocks termed the northern corridor, which is defined by a regional gravity ridge which hosts a variety of gold, copper and now with the inclusion of Jasper Hills, cobalt.
Shares are up almost 10% early afternoon to 10 cents.
Recent high-grade hits from Jasper Hills include 14 metres at 6.72 g/t gold, 0.28% cobalt and 2.17% copper from 284 metres, including 5 metres at 16.6 g/t gold and 2 metres at 1.32% cobalt.
The restructuring of the Tennant Creek Mineral Field JV with Evolution Mining (ASX:EVN) has enabled Emmerson to focus on the generation of new targets within the 2,600 square kilometre project area retained by Emmerson.
Emmerson discovered high-grade copper and gold at the Goanna prospect back in 2012 utilising geological models and airborne electrical geophysics.
The company is now capitalising on this know-how and deploying an even more powerful and sophisticated airborne system that utilises the very latest technology.
Significant potential to pinpoint further mineralisation
Emmerson has signed a deal with New Resolution Geophysics (NRG) to fly their latest helicopter-borne, time domain electromagnetic (HTDEM) system.
The association of cobalt and copper sulphides that characterise most of the deposits and prospects in the northern corridor is expected to generate detectable signatures for the HTDEM.
This combined with Emmerson’s understanding of the formation of these deposit types provides great potential to pinpoint further mineralisation.
Drilling to extend producing gold mine
Emmerson will commence a drill campaign later this month at the Edna Beryl district within the Tennant Creek project.
The drilling will be aimed at delineating extensions outside the Edna Beryl Mine area, where the company is currently producing gold bars via a royalty agreement with a specialist small-scale miner.
Emmerson will also test for extensions to a promising new discovery called Mauretania, with the remainder of the drill holes spread across other potential small mine projects.