- Emu (EMU) is advancing its drilling program at the Gnows Nest project near Yalgoo in Western Australia
- Drilling has been completed at the northern and southern shoots which returned high grades and identified a new gold anomalous zone
- Emu has since moved to the Monte Cristo prospect where 10 holes have been completed — all of which intersected the target shear zone with quartz veining
- Approximately 4000 of the planned 6500-metre program has been completed and further assays are pending
- Company shares are up 6.67 per cent to trade at 3.2 cents
Emu (EMU) has advanced its phase two reverse circulation (RC) drilling program at the Gnows Nest project near Yalgoo in Western Australia.
The 6500-metre program began at the start of the month and is aimed at following up on a maiden drilling program completed in the first quarter of 2021.
Drilling is also designed to test for extensions of the gold mineralisation below previous drill results as well as to explore the potential of gold mineralisation between the defined high-grade northern and southern shoots.
Emu has now completed drilling the northern and southern shoots with 10 holes drilled and initial results have returned high-grade gold intercepts at depth within the shoots.
Best assays include two metres at 12.62 grams of gold per tonne (g/t) from 121 metres including one metre at 18.57g/t gold from 121 metres, and two metres at 11.43g/t gold from 208 metres including one metre at 17.53g/t gold from 208 metres.
Drilling also identified a new gold anomalous zone between the northern and southern shoots which suggests mineralisation continues.
Emu is now drilling at the Monte Cristo prospect south of Yalgoo with the first 10 holes completed. All holes so far have intersected the target shear zone with quartz veining.
The company has drilled approximately 4000 of the planned 6500-metre program and further assays are pending.
Company shares were up 6.67 per cent to trade at 3.2 cents at 2:07 pm AEST.