Emmerson Resources Ltd (ASX:ERM) has stepped out the mineralised footprint at Tennant Creek’s Golden Forty target area, encountering more high-grade gold and base metals in the final holes of a 26-hole drill program on the tenure.
The Northern Territory-based project in Australia appears to be an emerging gold and base metals iron-oxide style discovery, centred on the Golden Forty magnetic anomaly.
Results of note include:
Golden Forty North:
- 15 metres at 8.4 g/t gold and 0.34% bismuth from 103 metres, including 6 metres at 17.5 g/t gold and 0.6% bismuth; and
- 6 metres at 5.4 g/t gold from 155 metres.
Golden Forty East:
- 4.6 metres at 9.0 g/t gold and 0.54% bismuth from 67.4 metres, including 1-metre at 39.7 g/t gold and 1.5% bismuth;
- 28 metres at 3.5% lead, 0.31% copper and 0.36% zinc from 91 metres, including 2 metres at 12.3% lead, 0.55% zinc and 0.24 g/t gold; and
- 11 metres at 1.15% copper and 0.24 g/t gold from 131 metres.
Golden Forty historical mine:
- 7 metres at 3.6 g/t gold from 45 metres;
- 2 metres at 4.0 g/t gold from 53 metres;
- 28.4 metres at 0.95 g/t gold from 111.6 metres; and
- 1.5 metres at 27.1 g/t gold from 129 metres.
Open in all directions
“Our high-resolution aeromagnetic survey over the Golden Forty area has produced one of the largest magnetic anomalies in the Tennant Creek Mineral Field – with the discovery of new zones of mineralisation coincident with this anomaly and with many areas yet to be drill tested,” Emmerson Resources managing director Rob Bills said.
“These latest assay results continue to expand the footprint of the mineralisation with new high-grade gold at Golden Forty North and now, both gold and base metals at Golden Forty East.
“Base metals typically report to the outer or upper zones of these magnetite-hematite hosted iron-oxide copper-gold (IOCG) style deposits and can provide a vector to the gold, which at Golden Forty East points toward Golden Forty South and/or at depth – areas that remain largely untested.
“Encouragingly the mineralisation is high grade, relatively shallow and remains open in all directions.”
A large section of the Golden Forty magnetic anomaly is untested and unexplained.
The CSIRO is working to refine the processing of magnetic data to accurately locate the magnetic source supported by a Northern Territory Geophysical Survey (NTGS) Geophysics and Drilling Collaboration grant.
Emmerson intends to continue drilling at Tennant Creek during the 2023 season.