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Emerald Resources NL

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Summary

Project:

Okvau

Deposit:Okvau
Location:Cambodia
Commodities:Gold
Date:10/24/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Mine Development
Report details:24-10-2018: Emerald Resources NL announces an Exploration/Drilling Update report for its Okvau deposit at the Okvau project. Drilling results incl. 20m @ 6.84g/t Au from 5m. Emerald Resources NL (ASX:EMR) (‘Emerald’) is pleased to provide the final result
Resources:(Reserve, Prob.): 14.26Mt @ 1.98g/t Au for 907Koz contained at Okvau
CP/QP:[Overall Report]: Keith King (Internal)
ABSTRACT:Emerald Resources NL (ASX:EMR) (‘Emerald’) is pleased to provide the final results from Phase 2 of the simulated grade control drilling program at the Okvau Gold Deposit. As previously announced, Emerald embarked on a 368 hole simulated grade control drilling program on its 100% owned Okvau Gold Project in late October 2017. The program was completed in two stages with the remaining assays from the second stage now received. The program was designed to further de-risk the development of the Okvau Gold Project and consisted of a total of 368 shallow holes (~25m) drilled on a 10m by 10m spacing (refer Figure 1). The first phase of the drill program (152 collars) was completed in November 2017 and results were announced to the ASX on 27 December 2017 and 10 January 2018. The second phase of the program commenced in July 2018 and was completed mid-September. The results from the first 108 of the 216 drill collars from Phase 2 were announced on the 3 October 2018. The final 108 drill holes from the Phase 2 program have now had all assays returned and are reported here. The results to date continue to strongly support the DFS Ore Reserve estimate in the area tested, particularly in respect to gold grade and add strongly to the company’s confidence in its ability to reconcile reserve grade and ounces (during operations) with the intended mining equipment type, scale of operation and grade control methodology. The cost of the program will represent an operating cost saving.

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