Well-funded Emmerson Resources (ASX:ERM) has updated on drilling activities at the Mauretania discovery within its Tennant Creek project.
A total of 16 reverse circulation and 2 diamond core tails were completed during October, greatly enhancing the geological understanding and opening up potential both at depth and along strike for further copper and gold mineralisation.
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.
Moreover, the potential includes both supergene gold and copper above the base of oxidation and within the upper plate of the thrusts and nearby NW trending faults, plus hypogene gold and copper associated with altered ironstones at depth.
Rob Bills, managing director, commented:
“The recent drill programs at Mauretania highlight the importance of early diamond drilling to understand the controls on mineralisation as the previous reverse circulation drill programs were based on a NW trending magnetic model.
"The thrust faults have dislocated the primary gold and were also instrumental in redistributing the overlying supergene gold into a more east-west orientation - which we plan to test in early 2016.
"We continue to compile and interpret all 2015 drill results thereby advancing new areas identified from our predictive targeting model.
"Both brownfield and greenfield targets from the predictive targeting model share attributes consistent with many of the major mines in the Tennant Creek Mineral Field."
Once these targets have been geologically validated, Emmerson will be able to include them in the 2016 project pipeline for drill testing.
Analysis
Emmerson remains well funded with circa $5.7 million in available cash going into 2016, and has implemented a strategy to generate risk-free cash flow from the Tribute Agreement with Edna Beryl Mines.
The agreement provides for the development and mining at the Edna Beryl mine, scheduled for production in the New Year - and with the ability to expand to other similar small mines on the Emmerson leases.
Also - a strategic alliance with Kenex Limited is utilising proprietary predictive targeting models that aim to enhance the quality of project selection at the early stages of exploration.
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