Emmerson Resources Limited (ASX: ERM) – $0.130
08 Sep 2016
Emmerson Resources Limited (ASX: ERM) has received approval from the Northern Territory Department of Mines to commence the next round of drilling at its 100% owned Tennant Creek Project located in the Northern Territory (Figure 1).
Figure 1. Location of the Tennant Creek Project (Source: company)
The drilling program comprises approximately 8,000 metres of drilling with approximately 6,300 metres of reverse circulation and diamond drilling planned at Edna Beryl and the remaining 1,700 metres of drilling at the Susan and Retsina prospects.
The extensional drilling at Edna Beryl aims to extend the shallow high grade gold within the Main and South ironstones plus test the depth potential of the recently intersected Deeps ironstone.
A diamond drillhole is planned at the Susan prospect to test magnetic geophysics and geological interpretation for both high grade gold in the oxide zone and primary gold associated with magnetite ironstones.
Retsina is a greenfields target in a similar structural setting to Edna Beryl but with limited outcrop and contains brecciated hematite ironstone at surface.
This exploration is fully funded by the company’s partner Evolution Mining Limited (ASX: EVN) and constitutes part of a $15m earn-in phase of the Joint Venture.
For further information, visit emmersonresources.com.au
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