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Emmerson Resources Ltd.
Summary
| Project: | Tennant Creek | |
|---|---|---|
| Deposit: | Mauretania | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Bismuth-Copper-Iron-Lead-Zinc-Molybdenum-Antimony | |
| Date: | 2/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 18-2-2019: Emmerson Resources Ltd. announces an Exploration/Drilling Update report for its Mauretania deposit at the Tennant Creek project. Drilling results incl. 22.0m @ 35.9g/t Au, 9.18g/t Ag, 0.09% Cu, 0.25% Bi, 95.8ppm Co, 22.4% Fe from 73m. Emmerson’ | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Steve Russell (Internal) | |
| ABSTRACT: | Emmerson’s Managing Director; Mr Rob Bills commented: “These high-grade results from our Tennant Creek project speak for themselves and support our strategy of building a pipeline of high-grade, high-value mines which feed into the Mine Schedule. Where our partner, Territory Resources Limited (“Territory”) is undertaking various optimisation studies ahead of permitting and development. Emmerson receives a low-risk return either from 12% and 6% of the gold produced at the Edna Beryl and Chariot projects respectively, or a 25% share of the profit from the other seven projects in the Mine Schedule. Emmerson owns 100% of the Mauretania project and plans to undertake further work to maximise value. In contrast, The Susan project is within the JV area with Territory and is where Territory are funding $5m over 5 years to earn a 75% equity interest. As previously announced the Edna Beryl Mining Company, now owned by Territory is developing the high-grade, Edna Beryl gold mine. The first parcel of ore produced from the mine is currently being toll treated offsite while Territory complete refurbishment of the Warrego mill with completion forecast by year-end. The development of the Edna Beryl mine not only ASX Announcement 18 December 2019 Page 2 E m m e r s o n R e s o u r c e s L i m i t e d provides a low-risk return to Emmerson but also an opportunity to better understand the geology and gold distribution via underground drilling and development. Something that has been instrumental in realising the potential of many of the other historical high-grade mines in the Tennant Creek Mineral Field.” | |
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