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High Grade Gold intersected at Edna Beryl West
Major drill program to commence immediately
Outstanding shallow drill results from the first drill campaign include:
5m at 27g/t gold, including;
o 2m at 51g/t gold from 103m
13m at 8.7g/t gold, including;
o 7m at 15g/t gold from 133m
New interpretation suggests that the Edna Beryl West mineralisation may extend to the
extremely high grade Edna Beryl mine, representing a much larger, shallow high grade
gold deposit.
This new interpretation also highlights potential for repeated deeper hematite associated
ironstone gold mineralisation beneath the Edna Beryl mine, as evidenced from historic
drill holes:
GRED27 of 6.6m at 4g/t gold including 1m at 19g/t and 1m at 5.4g/t gold
The Edna Beryl East mine is the subject of the “small mines tribute agreement” where
development is currently underway and recent underground drilling (ASX: 16 March
2016) produced bonanza grades of:
1.8m at 140g/t gold (drill hole A)
1.8m at 309g/t gold (drill hole B)
1.8m at 93.4g/t gold (drill hole C)
First production from the Edna Beryl mine is anticipated later this year.
The next 3,500m drill campaign in the Edna Beryl district will commence shortly and is
fully funded through the earn-in and JV with Evolution Mining.
Planning and permitting is underway to bring forward development of additional small
mines, plus potential development of the high grade Chariot Gold Mine.
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Emmerson Resources Limited (“Emmerson”, ASX:ERM) and partner, Evolution Mining Limited
(“Evolution”, EVN) are pleased to announce highly encouraging assay results from the recent drill
program at Edna Beryl West, within Emmerson’s 100% owned project at Tennant Creek in the
Northern Territory (figure 1).
The significance of these results are not only reflected in extensions to previous shallow high grade
mineralisation, but more importantly provide the basis of a much expanded resource within the Edna
Beryl district. This new interpretation suggests multiple, sub parallel “panels or ore shoots” that are
structurally controlled both up and down plunge and also strike. The four “ore shoots” identified to date
connect the high grade gold mineralisation at Edna Beryl with the recent and historic drill holes at
Edna Beryl West (figure 2). Of significance is the paucity of drilling at depth, which by historic
standards is still shallow and within 200m of the surface.
The next round of drilling will consist of 3,500m starting later this month and focussed on testing this
new interpretation of high grade gold within multiple ore shoots, and where historic drilling is almost
non-existent (figure 3).
In parallel, development of the first of the “small mines” at Edna Beryl continues to make progress and
will provide further opportunities for underground drilling around the immediate Edna Beryl mine
(figure 2). Note the Edna Beryl mine is the subject of a tribute agreement (ASX: 11 August 2015)
which constrains the mining to a 3D envelope centred on the Edna Beryl mine. This standalone
Tribute Agreement provides Emmerson with a number of advantages:
A risk-free, near term income stream from non-core assets via a royalty agreement (until EVN
completes its earn-in, ERM receives 100% of its share flowing from this agreement)
Future access to refurbished underground workings for near mine exploration,
The opportunity to monetise a pipeline of other non-core assets within Emmerson’s extensive
tenement holdings,
The refurbishment of the production shaft to 54m and the ventilation shaft to 26m at Edna Beryl East
and establishment of camp, office and associated facilities is now complete. This refurbishment has
included re-establishment of an east-west drive that was developed in April 2004 by Edna Beryl
Mining Company (formally Craig’s Mining Services).The drive successfully intersected the upper gold
pod (in 2004) and provided a 209 tonne, bulk sample for the previous owner, Giants Reef Mining
Limited. The bulk sample was treated through the Warrego CIP mill and returned an exceptional
head grade of 58.4 grams per tonne gold. Development of Edna Beryl was halted in 2005 as the
contractor was redirected onto other projects.
It is now believed that the bulk sample collected in 2004 represented mineralisation within the
alteration envelope at the very top of the gold pod. Recent bonanza gold mineralisation in
development drilling (ASX: 16 March 2016) indicates that these drill holes are the first samples of the
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main supergene zone within the hematite ironstone. When commissioned, Edna Beryl will to the
company’s knowledge become the highest grade gold mine in Australia.
Investor Enquiries:
Mr Rob Bills
Managing Director & Chief Executive Officer |
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楼主:yongqianyin0322
发表于 2016-5-11 18:57
