Emergent Resources Limited Stock Market Press Releases and Company Profile
Emergent Resources Limited (ASX:EMG) Announce A Beyondie Project Update And The Appointment Of Mr Dan Podger To Technical Services Geologist
Emergent Resources Limited (ASX:EMG) Announce A Beyondie Project Update And The Appointment Of Mr Dan Podger To Technical Services Geologist

Perth, Aug 18, 2009 AEST (ABN Newswire) - Emergent Resources Limited (ASX:EMG) has appointed former Gindalbie Metals senior geologist Dan Podger to the position of Technical Services Geologist at the Beyondie Magnetite Iron Project.

Mr Podger is an expert in the field of magnetite iron ore, and in his three years at Gindalbie he was instrumental in the technical evaluation and development of the Karara Magnetite Project.

He oversaw the establishment of a 1.85 billion tonne JORC Resource, producing a concentrate grade of 68.3% at the Karara Project, and also the maiden magnetite reserve, of 522Mt of 36.3% Fe, at the project.

He has a strong depth of expertise in the resources sector, and his career experience also includes roles with Fortescue Metals Group, where he was responsible for exploration and resource drilling campaigns at the Christmas Creek and Cloudbreak Projects, Woodside, Shell Australia and BP Exploration.

More recently, Mr Podger was Chief Executive of junior magnetite explorer Accent Resources, where he was responsible for managing the Magnetite Range Magnetite Project prefeasibility study, in WA's mid-west region.

Commenting on the appointment of Mr Podger, Emergent Resources Managing Director Garry Hemming said: "We are delighted to have someone of the cailbre and expertise in magnetite iron ore projects as Dan join our team. He is one of the pre-eminent technical experts in magnetite exploration and development and his work with Gindalbie's Karara Magnetite Project is testament to his abilities."

"His appointment is consistent with our aim to build a high quality team to support the development of the Beyondie Iron Project into a world class magnetite mining operation," Mr Hemming said.

Third phase drilling program commences

Perth-based exploration company Emergent Resources Limited (ASX:EMG) (Emergent) is pleased to announce that it has commenced its third-phase drilling program at the company's flagship Beyondie Iron Project in the mid-west region of Western Australia.

The program will drill 35 reverse circulation (RC) holes and 5 diamond core holes (for engineering and metallurgical work) for a total of 5,000 metres over a 14 km segment of the known 52km total strike length at Beyondie, and is designed to upgrade the recently announced Target Mineralisation at the project to in excess of 1 billion tonnes and increase the size and category of the existing JORC Resource.

Resource established to date

Emergent announced to ASX on 14 July 2009, a maiden JORC Resource of 127 million tonnes grading 28.15% Fe (cut-off grade; 21% Fe), and an additional 500-600 million tonnes Target Mineralisation at 25-30% Fe at the Beyondie Project.

Details of the resource estimate can be found in the following table:
----------------------------------------------------------------------
Fe%           Tonnes   Fe   Fe2O3%  SiO2  Al2O3  TiO2% P ppm  S   LOI
Grade Range   
----------------------------------------------------------------------
Total
INFERRED  127,000,000 28.15  40.25 49.42   3.96  0.16  1164  0.02 2.63
----------------------------------------------------------------------
The Resource and Target Mineralisation were calculated from results from the Company's two drill programs to date (a total of 5,651m across 46 holes), which focused on an 11 kilometre segment in the Western portion of the project area.
------------------------------------------------
          Tonnes    Fe    Fe2O3%   SiO2   Al2O3
------------------------------------------------
TARGET     500-    25-30   35-45  45-55  3.5-5.0
without    600
INFERRED  million

(continued)
----------------------------------------------------
           TiO2%    P ppm       S       LOI   MagEst
----------------------------------------------------
TARGET   0.1-0.2  1000-3000  0.01-0.05  2-6    5-15
without
INFERRED
----------------------------------------------------
The target mineralisation tonnage and grade is conceptual in nature in that there has been insufficient exploration at this stage to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a mineral resource.

Given that only a small portion of the current total known strike length of 52 kilometres at the project has been targeted for drilling, Emergent expects that the Beyondie project area will host a large volume of magnetite mineralisation.

The Company expects that the 3rd phase drill program will be completed in 4 weeks, and will announce the results as soon as they become available.

About the Beyondie Iron Project

The Beyondie Project is located in the northern part of the mid-west iron ore precinct in WA, immediately adjacent to the Great Northern Highway and Goldfields Gas Pipeline.

The Company recently confirmed a maiden JORC Resource and entered into an non-binding MOU with China Metallurgical Investment Co Ltd (CMI) for the development of the Beyondie Project which includes a 50:50 Development JV and A$200m funding at the project, as well as a A$4.9m placement to CMI.

The Company plans to develop the project in to a robust, long term, high grade magnetite mining operation. Emergent has earned a 60% interest and has commenced the expenditure necessary to exercise its right to earn up to 80% interest in the project in joint venture with De Grey Mining Limited.

For the complete Emergent Resources ASX Announcement, please click the link below:

http://www.abnnewswire.net/media/en/docs/61277-ASX-EMG-456872.pdf

About Emergent Resources Limited

Emergent Resources Limited sees the present and foreseeable demand for resource commodities such as iron, base metals and precious metals remaining strong. Emergent’s strategy is to effectively define and develop the company's Beyondie Iron Project exploration in conjuction with existing strong geological and structural association of lead-zinc and copper-gold mineralised targets.

 


Contact

Garry Hemming
Managing Director
Emergent Resources
Mob: +61-419-835-757
Email: ghem@westnet.com.au
Website: www.emergentresources.com.au



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