ASX-listed company Emmerson Resources (ASX:ERM) reports it has started a reverse circulation (RC) drilling campaign at its Tennant Creek Gold (Au) copper (Cu) Project in the Northern Territory.
The initial 1,700m RC drilling campaign has commenced with a goal of exploring the new Traminer and Analytic Cu-Au targets generated by a recent 10,000-line km high resolution drone aeromagnetics survey across the southern project area (SPA).
These targets are located along a major, east-west trending corridor of mines referred to as the ‘Wine Line’, which includes the ‘high-grade’ Chariot and Malbec Au mines and the TC8 Au-Cu mine.
The recent aeromagnetic drone survey is reported to have been aided by new drone technology, in conjunction with innovative data processing and structural interpretation, which have delivered new insights and vectors to the ‘high-grade’ Au mineralisation hosted ironstones.
RC drilling is expected to be completed in December this year, with assays results likely to be received in February 2023.
Speaking on the commencement of drilling, Emmerson Resources’ Managing Director, Rob Bills said: “The return to testing greenfield drill targets in the JV ground is a very exciting development as it has the potential to add to the ‘high-grade’ gold deposits already in the mining JV and where Emmerson receives a free carry, 6% gold production royalty.
“The return to testing greenfield drill targets in the JV ground is a very exciting development as it has the potential to add to the ‘high-grade’ gold deposits already in the mining JV…”
Drilling has commenced at the Analytic project based on a new interpretation of the structure and source of the magnetics.
Further highly ranked projects within the Joint Venture area will continue to be generated and drill tested during the 2023 field season – along with projects in the brownfields/near mine environments that have potential for near term advancement to the mining schedule.”
Emmerson Resources also notes that the drilling campaign will be funded as part of a $5 million earn-in to the SPA by joint venture (JV) partner, Au and Cu focused resource company Tennant Consolidated Mining Group (TCMG).
In addition, historic drillholes conducted at the Analytic target attest to the potential for mineralisation, returning an intercepts of 24m at 6.3g/t Au from 246m including 3m at 48.3g/t Au (ANRC001) and 3m at 7.76g/t Au from 225m (ANRC004).
Further drilling of a prospective portfolio of similarly generated projects is expected to continue next year following the Northern wet season.
Emmerson Resources’ Tennant Creek project is situated in the Northern Territory’s Tennant Creek Mineral Field (TCMF), one of Australia’s highest-grade Au and Cu fields that has historically produced over 5.5Moz of Au and 470,000t of Cu from ‘high-grade’ deposits. The company currently owns about 1,706km-square worth of tenure within this ‘high-grade’ field, with Emmerson Resources owning 100% interest in the majority of the associated tenements.
With the RC drilling campaign now underway, Emmerson Resources announces it will move forward with a separate downhole magnetic survey at its 100%-owned Hermitage Cu-Au discovery following the completion of a successful phase two drill program.
Images: Emmerson Resources Ltd
