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Emmerson Resources Ltd.
Summary
| Project: | Tennant Creek | |
|---|---|---|
| Deposit: | Edna Beryl | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Bismuth-Copper-Iron-Lead-Zinc-Molybdenum-Antimony | |
| Date: | 6/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-6-2017: Emmerson Resources Ltd. announces an Exploration/Drilling Update report for its Edna Beryl deposit at the Tennant Creek project. JV - drill results incl. 3.0m @ 33.4g/t Au, 541ppm Bi, 281ppm Cu, 17.3% Fe from 99m. Emmerson Resources Limited (“E | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Steve Russell (Internal) | |
| ABSTRACT: | Emmerson Resources Limited (“Emmerson” ASX: ERM) and partner Evolution Mining Limited (“Evolution” ASX:EVN) are pleased to announce that final approvals have been received from the Northern Territory Government for production to commence at the Edna Beryl Gold Mine (Figure 1). This will be the first new gold mine in the NT for over a decade and is testament to the Government’s recent announcements on revitalising Tennant Creek as a major mining centre. The Government is also conducting a feasibility study into establishing a Central Milling Facility at Tennant Creek – which is expected to stimulate additional mine development and exploration in the region. Mining at Edna Beryl East is being undertaken by an operator specialising in small mines (the Edna Beryl Mining Company) under a tribute agreement. The agreement relates to a 3D envelope around the shallow mineralisation (Figure 2). Drilling last year extended the mineralisation beyond this 3D envelope, opening up the possibility of either expanding the current mining area or, if the next round of drilling is successful, contemplating a larger scale of development. Emmerson’s Managing Director, Mr Rob Bills commented: “The commencement of production at Edna Beryl is a pivotal step since Emmerson began exploration in the Tennant Creek Mineral Field in 2008. It not only provides a revenue stream but establishes a template for unlocking value in many of our other projects contained within our extensive, 3,000km2 tenement package. We believe this “tribute style of agreement” maximises value and mitigates risk whilst providing great insights for our near mine and regional exploration programs. As we know, small mines can often grow into big mines! | |
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