- Emu (EMU) has begun drilling at the Monte Cristo gold prospect which adjoins the Gnows Nest historical gold mine in WA
- Drilling is aimed at verifying historical high-grade gold results and extend the Gnows Nest Gold Project’s mineral resource
- First assays are expected to be received by the end of January or first week of February
- Additionally, Emu has scheduled a resource definition drilling program at the Gnows Nest gold mine
- Emu last traded at 4.5 cents on Tuesday, January 12
Emu (EMU) has begun drilling at the Monte Cristo gold prospect which adjoins the northwest boundary of the Gnows Nest historical gold mine in WA.
The reverse circulation (RC) drilling program at Monte Cristo is being carried out over the course of this month and next.
Drilling is designed to verify historical high-grade gold results as well as to build on and extend the defined mineral resource at the Gnows Nest Gold Project.
The program will largely focus on testing for the potential occurrence of economic mineralisation at Monte Cristo but will also target other areas along a further 1500-metre strike.
Emu plans to undertake roughly 2500 metres of RC drilling at Monte Cristo. First assay results are expected by the end of this month or the first week of February.
Additionally, Emu has scheduled a resource definition RC drilling program at the Gnows Nest gold mine.
This drilling is designed to extend and build on previous drilling activity which outlined an indicated and inferred resource of 113,400 tonnes at 3.78g/t gold for 13,777 ounces of gold.
Emu is expecting there to be a continuation of the main vein at depth and along strike.
Emu last traded at 4.5 cents on Tuesday, January 12.