Emmerson Resources Limited (ASX:ERM) has reported a “bonanza” gold hit from the first diamond drill hole at its Mauretania target in Tennant Creek, Northern Territory.
The extension of diamond drill hole MTDD010 returned results of:
- 3.95m @ 57g/t gold, 0.22% bismuth, 20.6g/t silver and 0.23% copper from 207m including:
- 1m @ 102 g/t gold, 47g/t silver and 0.6% bismuth, and
- 0.8m @ 135.5 g/t gold, 40.2 g/t silver and 0.34% bismuth
The company had previously reported (17 February 2021) oxide zone copper mineralisation of: 7m @ 0.81% copper from 88mm including 1m @ 1.66% copper.
Assay results from the remainder of the current 1,700m drill program are expected in late July to early August 2021.
Exploration at the Mauretania target
The Mauretania target is located within the Northern Project Area of the Tennant Creek Mineral Field in the Northern Territory. Drilling of hole MTDD010 was prematurely cut short at 106m in 2020 due to weather conditions from the wet season. With the hole now completed, the company moves to its next drill program including Black Snake and Susan, following up previous high-grade gold discoveries.
Alliance with TCMG to fund further exploration
Emmerson had previously announced a strategic alliance with with the Tennant Consolidated Mining Group, which includes a $10.5 million earn-in and joint venture across the northern and southern project areas, a small mines joint venture including a free carried 6% gold gross revenue royalty for production from small mines (<250,000oz), and a major mines interest with Emmerson retaining up to a 40% interest in any major discovery (>250,000oz gold equivalent).
“this bonanza intersection now greatly expands the potential for high-grade gold in the underlying primary zone”
Management comments
Emmerson Resources’ Managing Director Rob Bills said: “This first drill intersection in the current program demonstrates the unexplored potential beneath the known oxide-gold mineralisation at Mauretania. Previous drilling was focussed on delineating the shallow mineralisation amenable to open pit mining; however, this bonanza intersection now greatly expands the potential for high-grade gold in the underlying primary zone – some 100m below the current modelled open pit floor.”
Images: Emmerson Resources Limited
