Join our daily newsletter At The Bell to receive exclusive market insights
- Emmerson Resources (ERM) launches a drilling program at its Golden Forty gold project in Tennant Creek, Northern Territory
- The new program is set to include at least 4000 metres of drilling across 22 holes, testing for extensions to the previously-mined high-grade gold mineralisation in the area
- Emmerson has already started drilling its first diamond hole at the Golden Forty East prospect, intersecting ironstone
- The company expects to complete the program by late October 2022
- Emmerson Resources last traded at 9.5 cents on August 25
Emmerson Resources (ERM) has launched a new drilling program at its Golden Forty gold project in Tennant Creek, Northern Territory.
The new program will include at least 4000 metres of both reverse circulation and diamond drilling across 22 holes, testing for extensions to the previously-mined high-grade gold mineralisation.
Emmerson identified the drilling targets through a high-resolution drone magnetic survey, which discovered several potential extensions to the mineralisation.
Already, the first diamond hole has commenced at the Golden Forty East prospect, which intersected ironstone.
Emmerson’s Managing Director, Rob Bills, said drilling at Golden Forty aimed to add further resources to the company’s inventory and mine schedule ahead of the establishment of a central mill by its joint venture partner, TCMG.
“We have recently announced JORC resource estimates for Chariot and Mauretania under the Small Mines JV with partner TCMG,” Mr Bills said.
“Providing this current program is successful, we anticipate resource additions from Golden Forty that may be amenable to future open pit mining.”
The project is wholly owned by Emmerson and falls within its Southern Project area, where TCMG is busy earning an interest through a $5 million agreement to fund exploration. Emmerson will then receive a free-carried 6 per cent gold production royalty from projects within the joint venture.
The new drilling program is anticipated to be completed in late October 2022.
Emmerson Resources last traded at 9.5 cents on August 25.
