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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 steps up pace, drilling for Tier 1 gold targets in Northern Territory
Northern Territory-focussed Emmerson Resources (ASX:ERM) is about to step up the pace of exploration at Tennant Creek in search of multiple Tier 1 gold targets identified within its extensive tenement package.
Under a $28.0 million exploration Joint Venture with Ivanhoe Australia Limited (ASX:IVA), two additional drill rigs will commence next week, operating in parallel with the existing diamond drill rig.
This will bring the drill rigs to three (one diamond, one RC and one RAB) and accelerate the testing of seven Tier 1 targets identified in the Red Bluff and Tinto areas.
At Red Bluff, "encouraging initial results" were received from the first two diamond drill holes at Ella, with the intersection of extensive widths of magnetite-chlorite iron-oxide alteration together with anomalous zones of gold, copper, bismuth and molybdenum.
These results have confirmed the presence of a large, sub vertical, iron-oxide body that is open in all directions and requires further drill testing.
At Tinto, extensive zones of iron-oxide and chlorite alteration have been intersected in three diamond drill holes, together with anomalous zones of gold, bismuth and base metals. This drilling has confirmed the presence of multiple ironstones over a 500m strike - open in all directions and with further drilling underway.
Emmerson has systematically evaluated a number of undercover projects within its tenements aimed at finding Tier 1 discoveries, defined as +1million ounce gold equivalent projects.
