Emmerson Resources Limited’s (ASX:ERM) drill program within its Tennant Creek project in the Northern Territory has revealed additional ironstones, some highly anomalous in both copper and gold.
The deep diamond drilling at the Edna Beryl gold mine has confirmed that the mineralisation continues at depth and remains open.
Emmerson is now planning for developing an underground exploration/drill drive from the Edna Beryl East mine workings.
The company had recently received final approvals from the Northern Territory government for production to commence at the Edna Beryl gold mine.
Edna Beryl is the first new mine in the Northern Territory for over a decade and has the potential to be one of the highest grade gold mines in Australia.
The next 2,500 metres drill campaign at Tennant Creek, funded by JV partner Evolution Mining (ASX:EVN), will focus on the high grade Gecko-Goanna-Monitor copper-gold project.
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) joint venture.
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.