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Emmerson Resources Ltd (ASX:ERM) has kicked off a 5,000-metre campaign of reverse circulation (RC) drilling at its Tennant Creek project in the Northern Territory, focusing on the Nobles Nob West prospect and the deposit connected to the White Devil Gold Mine.
The program – which is expected to last four weeks – began with 2000 metres of drilling at the former prospect, located 1,500m west of the Nobles Nob processing plant, which is 60% complete, under the management of Emmerson’s Tennant Creek joint venture partner, Tennant Consolidated Mining Group Pty Ltd (TCMG).
A second key focus for the drilling will be the high-grade White Devil gold mine, which produced 760,000 ounces at an average grade of 14.6 grams per tonne between 1987 and 1999.
Emmerson plans to drill 3,000 metres here to assess the shallow undrilled eastern extension of the deposit. Logistical and operational constraints made it difficult to test this extension sufficiently so far, but Emmerson notes it was drilled from underground, and represents one of the most compelling open pittable targets in the district.
Funding for the drilling work is being provided by TCMG – which also intends to get the Nobles Nob plant up and running by the third quarter of 2025 – with the company seeking to gain around a 75% investment in the Tennants Creek project by spending $10.5 million on exploration overall.
TCMG still has around $3 million yet to spend on the play, before it will be able to form an exploration JV in which it will hold 75%, and Emmerson 25%.
Emmerson shares have been trading flat at 6.2 cents each.
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