Emmerson Resources (ASX:ERM) has intersected visible copper and iron in its first diamond drill hole at Edna Beryl within its Tennant Creek project located in the Northern Territory.
The hole intersected 15.6 metres of ironstone containing visible pyrite, chalcopyrite and possibly bismuthinite – which can suggest sources of copper and gold are nearby.
This intersection is 108 metres vertically below the closest drill hole in ironstone 4 at Edna Beryl and represents a substantial down dip extension.
The drilling program continues and is planned to test similar down dip extensions in ironstones 3 and 1.
Emmerson’s first mine opening at Edna Beryl is scheduled for 13 July 2017.
Emmerson is now a gold producer
Emmerson recently received final approvals from the Northern Territory (NT) government for production to commence at the Edna Beryl Gold Mine.
The mine is within the Tennant Creek Mineral Field (TCMF) joint venture and is now the first producing asset in a strategy which aims to monetise a pipeline of small high-grade gold projects.
The first 600 tonnes of development ore averaged circa 40 g/t gold.
Edna Beryl is the first new mine in the NT for over a decade and has the potential to be one of the highest grade gold mines in Australia.
Background
Emmerson’s flagship project is its TCMF 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 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.