Emmerson Resources Ltd hits more high grade gold heights at Edna Beryl
Further bullish drilling results suggest that Edna Beryl West and the near term producing Edna Beryl Mine may join some 150-180 metres below the surface.
Company
ASX:ERM
Emmerson Resources is a Perth-based explorer with an emerging gold royalty business. The company has a large landholding in the rich Tennant Creek Mineral Field (TCMF) in the Northern Territory.
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Further bullish drilling results suggest that Edna Beryl West and the near term producing Edna Beryl Mine may join some 150-180 metres below the surface.
With $5.5 million cash plus potential for risk free cash from small mines, Emmerson is highly leveraged to success across all strategic horizons.
The first underground drill holes at Edna Beryl returned spectacular gold grades of 139.7g/t, 309.5g/t and 93.4g/t. Current first round drilling will test for extensions of this "bonanza" gold grade mineralisation.
While the "small mines strategy" is not the main game for Emmerson, it should prove lucrative in the current AUD gold price climate which is now looking to fast track a pipeline of 6 small high grade resources to production.
The new tenement applications over district scale targets identified are known to have similar tectonic, geological, geophysical and geochemical addresses to known resources but remain under explored.
The drilling has indicated that Mauretania is a multi-element, gold, copper and silver discovery controlled by a combination of northwest trending thrust faults and reactivated north east faults.
Emmerson Resources has started following up recent gold hits as high as 36.2g/t gold at the prospective Mauretania area of its Tennant Creek project in the Northern Territory.
The Australian All Ordinaries looked weak today, notching another slightly lower close at 5272 points with a lacklustre show from the mining and energy sectors.
The Australian All Ordinaries seemed to be at a loss for strong leads today, with trading on the index trailing off in the morning to a static range that led to a 0.8% weaker close at 5,267 points.
The recent high resolution aeromagnetic survey highlighted a number of new, subtle anomalies corresponding to major structures and in some cases, historical mines. Follow-up drill testing will commence later this month.
Kenex’s predictive modelling for minerals in 2D and 3D has successfully identified new exploration targets and resource development projects including those for ASX public listings. Emmerson's core project focus remains the rich Tenna
Emmerson Resources is set for near-term cash flow from a royalty agreement on gold production from its Tennant Creek project in the Northern Territory of Australia. Rob Bills, managing director of Emmerson Resources, speaks exclusively with
The royalty agreement enables Emmerson to generate ongoing income from mining of a non-core asset in its Tennant Creek portfolio. Narrow vein mining specialists Edna Beryl Mining Company have extensive experience in the Tennant Creek Minera