Emmerson Resources (ASX:ERM) has commenced copper-gold exploration over four of its projects located in New South Wales.
These projects were generated using predictive 2 and 3D targeting models developed in conjunction with the company’s strategic alliance partner, Kenex Limited.
Kenex can earn up to a 10% interest in any tenements acquired upon achieving certain predetermined milestones except for the Kadungle project, which is the most advanced project.
Exploration is now well underway in New South Wales with detailed high-resolution magnetic surveys completed over the EL’s 8463 (Wellington), 8465 (Temora), 8464 (Fifield) and Kadungle.
Recent field activities at Kadungle have confirmed the potential for extending both the previously drilled epithermal gold and porphyry copper- gold mineralisation.
It is anticipated that drilling could commence by midyear at Kadungle, where Emmerson has the option to earn up to 80% in the project by spending $500,000 over five years.
Background
Emmerson’s flagship project is its Tennant Creek Mineral Field joint venture where all exploration is fully funded by the farm-in and joint venture with Evolution Mining (ASX:EVN).
Through expenditure of $15 million over three years, Evolution will earn a 65% interest (Stage 1 Farm-in) in Emmerson’s tenement holdings in the Tennant Creek Mineral Field (TCMF).
The TCMF is one of Australia’s highest grade gold and copper fields producing over 5.5 million gold ounces and 470,000 tonnes of copper from a variety of deposits including Gecko, Orlando, Warrego, White Devil, Chariot and Golden Forty.
All of these deposits are within Emmerson's exploration and joint venture portfolio.
2017 exploration
Outside of targeting copper and gold in New South Wales, Emmerson will focus on Edna Beryl high grade gold and identifying drill targets at Rover, which has been recently included in the TCMF.