Emmerson Resources Limited (ASX:ERM) uncovered a new primary gold zone at its Mauretania project in two deep diamond holes drilled in late 2020 which further enhance the future development potential.
Best assay results from the lower primary gold zone of diamond drill hole MTDD009 are 8.8 metres at 3.44 g/t gold from 181 metres including 2 metres at 9 g/t from 186 metres.
In the upper oxide zone, this hole intersected high-grade copper of 12 metres at 2.5% copper, 0.26 g/t gold and 0.14% cobalt from 85 metres including 2 metres at 4.1% copper from 90 metres and 9.5 metres at 0.17 g/t gold from 60 metres.
Part of TCMG alliance
Mauretania is within the Northern Project Area (NPA) of Emmerson’s Tennant Creek project in the Northern Territory.
The NPA forms part of a strategic alliance with Tennant Consolidated Mining Group (TCMG) with all costs associated with exploration part of their $5.5 million earn-in to a 75% interest in the NPA within a five-year period.
“Expands potential”
Emmerson managing director Rob Bills said: “These latest results from Mauretania are significant in terms of intersecting the underlying source of the upper oxide gold mineralisation.
“This expands the potential for adding to the existing high-grade gold mineralisation.
“The gold and copper mineralisation remains open to the northwest and at depth, with the typical metal zonation in these styles of deposits consisting of primary gold beneath or lateral to the copper – which we have now validated with this latest drilling.”
Resumption of drilling
Mauretania is the most advanced project in the NPA alliance and on completion of a positive scoping study will form part of the Small Mines Joint Venture (SMJV).
Future drilling at the project will be funded by TCMG under the JV in which Emmerson will receive a 6% gross gold royalty, or an immediate 40% interest should the resource exceed 250,000 ounces.
The resumption of drilling at Mauretania aimed at extending the oxide and primary gold mineralisation and calculating a mineral resource will determine whether it becomes a small or major mine.
Bills said: “The next steps will include resource delineation drilling of both zones, however, based on the results to date, we are confident that Mauretania is a highly attractive project that will be one of the first mines in the TCMG mining schedule.
“Baseline flora and fauna surveys, plus geotechnical work, are already underway. We wait with anticipation to resume drilling once the Northern wet season allows access.”
Diamond drill results
Diamond drill hole MTDD009 intersected upper, hematite-clay ironstone consisting of intermittent jasper-hematite-clay zones within the oxide zone.
The high-grade copper mineralisation occurs toward the base of the oxide zone, however further drilling will be required to better define both the spatial relationships between the bonanza gold and high-grade copper mineralisation.
Gold mineralisation occurs toward the base of the magnetite-hematite ironstone, beneath 24 metres of talc-hematite-chlorite alteration.
Future drilling will target a similar geological package, however, better grades are expected in the vicinity of the feeder conduit where gold and copper fluids feed up underlying faults into the ironstone.
Diamond drill hole MTDD010 was aimed at testing the underlying primary gold zone, however, had to be prematurely terminated at 106 metres due to the impending wet season.
Next steps
Progression of the Mauretania discovery has highlighted the potential for repeats of this style of high-grade mineralisation within the NPA.
The 2021 drill season will test an exciting pipeline of projects including Mauretania, several Mauretania ‘lookalike’ targets plus systematic drilling at Emmerson’s Jasper Hills project.
Jasper Hills is a joint venture with the Marnturla Aboriginal Corporation and not part of the TCMG JV.