First Deep Drill Hole at Edna Beryl Intersects Visible Sulphides
- Diamond drill hole EBWDD064 has intersected 15.6m (from 287.4m down the drill hole) of brecciated hematite-quartz-chlorite ironstone containing visible pyrite, chalcopyrite and possibly bismuthinite
- This intersection is 108m vertically below the closest drill hole in ironstone 4 at Edna Beryl and represents a substantial down dip extension
- 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 scheduled for 13 July
The opening of the Edna Beryl Mine by the Minister for Primary Industry and Resources, the Hon Ken Vowles marks a transformational event for Emmerson. This will be the first new gold mine in the Northern Territory for over a decade and the transition of Emmerson from an explorer (see fig 4 in the link below). Mining at Edna Beryl is being undertaken by an operator specialising in small mines (the Edna Beryl Mining Company) under a tribute agreement. The agreement relates to a 3D envelope around the shallow mineralisation. Drilling last year has greatly extended the mineralisation beyond this 3D envelope (see fig 5 in the link below). This opens up the possibility of either expanding the current "tribute" mining area or, if the assay results from this round of drilling are positive, contemplating a larger scale development. Emmerson's share of the revenue from the Tribute Agreement is proportional to the final amount of gold extracted and its equity in the Tennant Creek Mineral Field JV (currently 100% until Evolution completes their earn-in).
The Government is also conducting a feasibility study into establishing a Central Milling Facility at Tennant Creek - which would provide a clear pathway to the production of gold and stimulate additional mine development and exploration in the region.
Edna Beryl represents the third discovery by Emmerson (and partners) of high grade, hematite-chlorite hosted gold and copper-gold mineralisation. It not only supports our exploration model but ushers in a new generation of deposits that have remained largely undetected by previous explorers.
About Tennant Creek and Emmerson Resources
Emmerson is a leading gold and copper gold explorer with projects in the Northern Territory and New South Wales and is led by a board and management group of experienced Australian mining executives including former MIM and WMC mining executive Andrew McIlwain (non-executive chairman), and former senior BHP Billiton and WMC executive Rob Bills (Managing Director and CEO).
The Northern Territory projects are centred around the Tennant Creek Mineral Field (TCMF), which is one of Australia's highest grade gold and copper fields producing >5.5 Mozs of gold and >470,000 tonnes of copper from a variety of deposits including Gecko, Orlando, Warrego, White Devil, Chariot and Golden Forty, all of which are within Emmerson Resources (ASX:ERM) exploration and joint venture portfolio. Emmerson's track record of discovery includes copper and gold mineralisation at Goanna, Monitor, Mauretania and more recently, the discovery of very high-grade gold at Edna Beryl - the first discoveries in the TCMF for over a decade.
Emmerson holds 3,000 km2 of ground in the TCMF, owns the only gold mill in the region and is in the process of monetising a pipeline of small high-grade exploration targets via a Tribute Agreement with a specialised small mines company. The first of these small mines will be at Edna Beryl, with production to commence in 2017.
Exploration in the TCMF is funded via a Farm-in agreement with Evolution Mining Limited (EVN), where EVN is sole funding exploration expenditure of $15 million by 31 December 2017 to earn a 65% interest (Stage 1 Farmin). EVN then has a further option to sole fund a further $10 million over two years to earn an additional 10% (Stage 2 Farm-in). Emmerson is the operator and manager during the Stage 1 Farm-in.
Emmerson has recently commenced exploration on new gold-copper projects in NSW, identified (with our strategic alliance partner Kenex Limited) from the application of "big multiple independent datasets" - aimed at increasing the probability of discovery through enhanced predictive capability (particularly important in covered terrains). The highly prospective Macquarie Arc hosts >80Mozs gold and >13Mt copper but with these resources heavily weighted to areas of outcrop or limited cover. Emmerson's five exploration projects cover some 1,500 km2 of Macquarie Arc rocks and contain many attributes of the known deposits but remain under explored due to historical impediments, including overlying cover (plus farm lands) and a lack of exploration focus. Kadungle is an option (and potential JV) with Aurelia Metals covering 43km2 adjacent to Emmerson's Fifield project.
To view tables and figures, please visit:
About Emmerson Resources Limited
- Has an aggressive exploration program and dominant position in the world class Tennant Creek Mineral Field.
- Is applying new exploration concepts and technologies to unlock the next generation of gold and copper deposits.
- Owns the only carbon-in-pulp gold plant in the region.
- Has an experienced Board and Management team.
Emmerson Resources Limited