Gold and copper explorer Emmerson Resources (ASX:ERM) is preparing to launch downhole geophysics, geological modelling, and metallurgical testwork at its Hermitage Project in the Northern Territory.
The planned work follows the discovery of ‘significant’ wide gold and copper mineralisation from extensional drilling at Hermitage, which lies in the northern section of Emmerson’s wider Tennant Creek project.
Emmerson, which has a $33.22 million market capitalisation, says it struck mineralisation in 8 of the 11 extensional holes drilled.
The top results include 20m @ 1.5% copper, 0.6 grams per tonne (g/t) gold, 7,245 parts per million (ppm) bismuth, 9.6 g/t silver, and 497 ppm cobalt from 151m in hole HERCDD013. This intersection included a 7m zone @ 2.2% copper, 1.0 g/t gold, 19.7 g/t silver, 12,040 ppm bismuth, and 435 ppm cobalt.
Other hits include 34.8n @ 1% copper and 918 ppm cobalt from 147.2m in hole HEDD011 and 51.1m @ 0.8% copper and 1,113 ppm cobalt from 99m in HEDD012.
Emmerson says the mineralisation remains open up-plunge to the east, down-plunge to the west, and at depth below a late low-angle fault.
The company is now planning downhole geophysics to help refine its future drill targeting.
At the same time, Emmerson is gearing up for preliminary metallurgic sampling and testwork to determine its preferred process flowsheet and potential byproduct opportunity given the presence of ‘very significant’ bismuth, cobalt, and silver grades interspersed within the zones of copper and gold mineralisation.
Managing Director Mike Dunbar says the bismuth, cobalt, and silver present in the project area could provide ‘considerable’ byproduct value from Hermitage operations.
“The drilling has extended the known extent of the mineralisation to the east, west and, importantly, mineralisation has been intersected below the low-angle fault that had previously appeared to have limited the depth potential.
The mineralisation remains open down-plunge to the west, up-plunge to the east, and now at depth below the recently identified low-angle fault.
“importantly, mineralisation has been intersected below the low-angle fault that had previously appeared to have limited the depth potential”
Preliminary metallurgical testwork is also planned to determine the preferred processing flowsheet and the potential for multiple product streams, which could add significantly to any future development studies for not only the Hermitage Project but other multi-element deposits in the Tennant Creek field.”
Alongside its Tennant Creek assets, Emmerson owns the Fifield, Wellington, and Kiola copper-gold projects in New South Wales, and the company is earning an 80% interest in the Kadungle joint venture with Aurelia Metals (ASX:AMI).
Emmerson Resources had $5.3 million cash and cash equivalents at hand as of 30 June, according to its latest annual report.
Write to Joshua Smith at Mining.com.au
Images: Emmerson Resources