Emmerson Managing Director Mr
We eagerly await the assay results which will guide further exploration'
The 100% owned Kiola project is one of Emmerson's highest ranked, early stage gold-copper projects and is centred on the 15km2
First stage diamond drilling comprising four holes for 1,130m has just been completed and assay results are pending. Visual results and alteration across all drill holes confirm the potential for underlying porphyry copper-gold
The mineralisation consists of chalcopyrite and in at least two holes, iron-rich sphalerite within skarn, in quartz veins and as blebs with pyrrhotite and chalcopyrite. Noting that skarn mineralisation is characteristic of the outer/peripheral zones of porphyry copper-gold systems. The mineralisation typically occurs with pyrite, pyrrhotite and alteration of chlorite, actinolite - epidote and calcite. Minor intrusions plus zones of brecciation were also evident. Mineralisation of pyrite-pyrrhotite-chalcopyrite in drill hole KIODD004 extended the Nasdaq skarn some 200m to the east before entering weak chlorite-epidote alteration within volcanic siltstone and limestone.
The chargeability anomalies from the Induced Polarisation geophysics correspond to zones of intense pyrrhotite-pyrite +/- chalcopyrite and, in combination with the magnetics, will assist in focussing the next round of drilling to test the core of the mineralisation. Drilling at Kiola is partly funded by the NSW Government's New Frontiers Cooperative Drilling grant announced earlier this year.
As previously reported (ASX:
There are a number of conditions that still need to be finalised ahead of this agreement coming into effect. As part of this negotiation with Bacchus Resources, Emmerson has entered into a drilling agreement with AMWD (a drilling company associated with Bacchus Resources) to undertake a minimum
Emmerson has used AMWD in previous programs and is pleased to have secured a highly competent and professional drilling company that has capabilities in diamond, RC, aircore and auger drilling. Following a review of internal tenement management procedures, AMETS has been appointed to manage Emmerson's large tenement packages in NSW and
Contact:
Tel: +61 8 9381 7838
Email: rbills@emmersonresources.com.au
About
Emmerson is fast tracking exploration across five exciting early-stage gold-copper projects in NSW, identified (with our strategic alliance partner Kenex/Duke Exploration) from the application of 2D and 3D predictive targeting models - aimed at increasing the probability of discovery. Duke can earn up to 10% (to pre BFS) of any project generated providing certain success milestones are met.
The highly prospective Macquarie Arc in NSW hosts >80Mozs gold and >13Mt copper with these resources heavily weighted to areas of outcrop or limited cover. Emmerson's five exploration projects contain many attributes of the known deposits within the Macquarie Arc but remain underexplored due to historical impediments, including overlying cover (farmlands and younger rocks) and a lack of exploration. Kadungle is a JV with
In addition, Emmerson has a commanding land holding position and is exploring the Tennant Creek Mineral Field (TCMF), one of
Emmerson announced the formation of a strategic alliance with Territory Resources in 2018 and a further strategic alliance with NT Bullion in 2020. Both companies plan to build mills/processing facilities in
New Frontiers Cooperative Drilling
The NSW Government has announced
The program aims to support the long-term sustainability of the NSW resources sector by encouraging mineral exploration and discovery, particularly drilling programs that target underexplored areas in the state, or that test new geological ideas and models. The projects are predominantly exploring for copper and gold in key areas in Central and Far Western NSW, as well as other target metals such as cobalt, platinum, nickel, silver, lead, zinc, tin and tungsten. Emmerson has been successful in gaining drilling grants for both our Kiola and Kadungle projects
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