Emmerson Resources Ltd (ASX:ERM) has uncovered a potential new porphyry copper district stretching more than 5 square kilometres within its Kiola Project in New South Wales after intersecting copper sulphides during its first deep drilling at the project.
Early indications suggest that Kiola may share the same features as Newcrest’s world-class Cadia project hosting more than 50 million ounces of gold and in excess of 9.5 million tonnes of copper, just 80 kilometres away.
Four reverse circulation (RC) and diamond drill holes to 500 metres below the surface have extended the Nasdaq skarn mineralisation, which is near surface in the north and plunging towards the Dolly’s North prospect 1.5 kilometres to the south.
Notable assay results from the first four holes drilled at Kiola include:
- KIORCDD008 - 43.5 metres at 0.13% copper from 330 metres; and
- KIORCDD05W1 - 3 metres at 0.47 g/t gold from 45 metres and 9 metres at 0.29% zinc from 289 metres, including 1 metre at 1.24% zinc.
Combined 3D and 2D MIMDAS Geophysical inversion model with completed drill holes in black.
“Highly encouraging”
“Recent deep diamond drilling at the Kiola Project confirms an emerging and potentially large porphyry copper style mineralisation that stretches over 5 square kilometres - plus extends the Nasdaq gold and base metal skarn mineralisation a further 1.5 kilometres to the south,” Emerson (NYSE:EMR) commercial manager Rod Wheatley said.
“Visible chalcopyrite both in the skarns and as disseminations in altered intrusions are seen 5 kilometres to the south at the Yards prospect.
One of the drill cores showing intensely silicified meta sediment cut by quartz stockwork veins containing chalcopyrite.
“These results are consistent with our 3D MIMDAS geophysical model that links the surface geology, copper and gold rock chip geochemistry - and historic regional workings - to a unifying source at depth.”
“This deeper drilling is highly encouraging with intersections of mineralisation, geology and alteration consistent with the zones of a porphyry copper system.
“With this new data, we will update the geological model with the aim of identifying further drill targets.
“We would also like to thank the NSW Government’s New Frontiers initiative, which co-funded the Kiola drill program.”
Project background
The Kiola project is an early-stage gold-copper project centred on the 15 square kilometres Kiola Geochemical Zone (KGZ).
It encompasses favourable Ordovician age rocks that display anomalously high gold and copper rock chip and soil geochemistry, supported by several regional historic workings.
Emmerson’s field program has included soil and rock chip geochemistry, with rock chip samples up to 19.6 g/t gold and 2.16% copper assayed in 2020.
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