Emmerson Resources Ltd (ASX:ERM) has fielded near-surface high-grade gold in drilling to the north of the Golden Forty Mine (G40) deposit at its Tennant Creek project in the Northern Territory, adding to the gold inventory and potential for open pit mining.
The first phase of the extension drilling program at G40, consisting of 20 reverse circulation (RC) and six diamond drill holes totalling 4,455 metres, has been completed, with all holes intersecting magnetite-hematite ironstones.
The program was designed to test for extensions in the vicinity of the G40 and convert the remnant mineralisation into a mineral resource estimate.
Some of the best assays include:
- Hole GFRC060 intersected mineralisation about 50 metres north of the historic underground workings and returned:6 metres at 41.2 g/t gold from 120 metres, including 4 metres at 60.6 g/t from 120 metres with 1-metre at 203.8 g/t;
- Hole GFRC058 intersected 35 metres at 1.8 g/t gold from 69 metres including 13 metres at 4.1 g/t and 0.62% bismuth from 87 metres with 1-metre at 41.4 g/t and 7.08% bismuth from 90 metres; and
- Hole GRFC059 intersected 30 metres at 1.1 g/t gold from 87 metres including 3 metres at 4.0 g/t and 2 metres at 4.5 g/t and 0.23% bismuth from 106 metres and 1-metre at 1.09% copper from 135 metres.
Emmerson’s managing director Rob Bills said: “These initial results are highly encouraging as they have intersected mineralisation to the north of the historic Golden Forty Mine, are relatively shallow and thus, potentially amenable to open pit mining.
"We look forward to drilling the untested up-plunge (shallower) portions of the mineralisation to the south in early 2023.
“We await with anticipation the remainder of the assay results, in particular the diamond drill holes which indicate thickening of the magnetite-hematite ironstones within the unmined portions of the G40 Mine and also continuation of the ironstones to G40 East.
“The intersection of copper and some of the highest-grade bismuth encountered to date, suggest this northern ironstone also has potential for future-facing metals relevant to the battery metals sectors.”
More assays coming
Further assay results from the remaining 17 RC drill holes are expected in December and January and results from the six diamond drill holes in February 2023.
The drilling program was operated and managed by Emmerson and funded by joint venture partner Tennant Consolidated Mining Group (TCMG) as part of its $5 million earn-in to the Southern Project Area (SPA).
Work is also underway with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) on refining the processing of the drone magnetics to better pinpoint potential targets at G40, where the magnetic anomaly associated with the mine continues to the south but to date remains unexplained by historical drilling.
The G40 project is within the 100% Emmerson-owned SPA and has been awarded co-funding by the Northern Territory Geological Survey (NTGS) through the Geophysics and Drilling Collaboration.
The historic G40 briefly commenced operations in 1938, however, it was not until 1969 that the mine operated as a productive underground operation.
It produced 144,056 tonnes of ore at a recovered head grade of 11.9 g/t gold between 1969 and 1983, with production ceasing due to ground conditions.