- Emu NL (EMU) closes green on the ASX after announcing positive early findings from a major second-phase drilling program at its Gnows Next project in WA
- The junior explorer says the program is designed to follow up on a 10,900-metre reverse circulation (RC) program completed earlier this year
- Already, Emu has found several zones of quartz veining in different areas of the Gnows Nest project
- Emu’s latest drilling program is focussed on the Gnows Nest Deeps zone as well as extensions to the Monte Cristo prospect and some various regional targets
- Shares in EMU close 7.69 per cent higher at 2.8 cents each
Emu NL (EMU) closed green today after announcing positive early findings from a major second-phase drilling program at its Gnows Next project in WA.
The junior explorer told investors the program is designed to follow up on a 10,900-metre reverse circulation (RC) program completed earlier this year.
Emu said it has already struck several zones of quartz veining from the early stages of the drilling program.
The second-phase program
Emu’s latest drilling program is focussed on the Gnows Nest Deeps zone of the wider project area, as well as on some extensions to the Monte Cristo prospect and some various regional targets.
In the Gnows Nest Deeps area, Emu said the first four holes have been drilled, targeting extensions of high-grade mineralisation below historic mine workings within the Northern shoot.
Emu said all four holes intersected quartz veining. Drilling is in progress at the Southern shoot.
Meanwhile, two holes have been drilled at one of the regional targets dubbed Dantes Camp. This target lies on a northwest-trending induced polarization (IP) geophysical trend roughly 350 metres east of the Gnows Nest mine. The target has similar geological characteristics to the mine, according to Emu.
Drilling at Dantes Camp has also intersected a four-metre zone of fracture and brecciated quartz veining at a downhole depth of 40 metres. The company said this quartz vein material was associated with fine disseminated sulphides within sheared mafic rocks.
Other zones to be drilled as part of the regional exploration aspect of the drilling program include the Watertank Hill prospect area and the western margin of the greenstone belt to the northwest and southeast of Monte Cristo.
Emu said assays for the holes drilled so far were still pending.
Shares in EMU closed 7.69 per cent higher at 2.8 cents each. The company has a $12.8 million market cap.