Join our daily newsletter At The Bell to receive exclusive market insights
- EMU (EMU) identifies “promising” drill targets following surveys across two of its projects located in Western Australia’s wheatbelt region
- The company received results from Fixed Loop Electromagnetic (FLEM) surveys undertaken at its Graceland project near Hyden, and the Viper project near Jerramungup
- At Graceland, reverse circulation drilling is planned to test a potential mafic-ultramafic unit which is also coincident with a regional gravity high
- Once drilling at Graceland is complete, 5,000 metres of RC drilling is planned at Viper to test three electromagnetic conductors
- At market close shares were up 18.8 per cent at 1.9 cents.
EMU (EMU) has identified what it says are promising drill targets following surveys across two of its projects located in Western Australia’s wheatbelt region.
The company has received results from Fixed Loop Electromagnetic (FLEM) surveys undertaken at its Graceland project near Hyden, and the Viper project near Jerramungup.
At Graceland, geophysical consultants, Resource Potentials reprocessed magnetic data to obtain a clearer resolution of an anomalous magnetic feature which reportedly lies under cover and beneath an active farming property.
The results of this work identified a potential mafic-ultramafic unit which is also coincident with a regional gravity high.
Last month the company also completed a three-loop FLEM survey, the processed data from which delineated a series of significant EM conductors along the eastern margin of the interpreted ultramafic unit.
According to EMU, these conductors are coincident with auger soil nickel, copper and chrome geochemical anomalism.
A planned 2500 metres of reverse circulation drilling is planned at Graceland to test the relatively shallow nickel sulphide targets, with talks underway with drill contractors.
EMU also plans to further refine drill targets by extending the cover of the FLEM geophysical surveying with an additional single loop FLEM.
Given the geophysics results so far, the company has applied for an additional exploration licence totalling 10 blocks, contiguous to the Graceland Project in an area which is considered prospective for nickel mineralisation.
Over at Viper, a single loop FLEM geophysical survey was completed covering the historic Netty Copper Mine and surrounding areas, which delineated three EM conductors.
Of these conductors, the company said two are coincident with elevated copper and nickel occurrences identified in the auger soil geochemistry.
Five thousand metres of reverse circulation drilling is planned to follow up these targets once drilling at Graceland wraps up, and will also test extensions of the mineralised zones beneath the Netty Copper Mine.
At market close shares were up 18.8 per cent at 1.9 cents.
