Emmerson Resources tests new copper-gold targets at Tennant Creek

Emmerson Resources (ASX: ERM) has returned to testing greenfield ground, following up targets identified during a recent aerial survey at the joint venture Southern project near Tennant Creek in the Northern Territory.

The new targets were generated from a 10,000 line-kilometre high resolution drone aeromagnetic survey.

Emmerson noted drone technology, combined with innovative data processing and structural interpretation, has provided new insights regarding the ironstones geology that typically hosts high-grade gold mineralisation.

The current exploration program will comprise 1,700m of initial drilling program on behalf of its privately owned joint venture partner Tennant Consolidated Mining Group (TCMG) as part of the latter’s $5 million earn-in commitment.

TCMG has previously stated that it has acquired the majority of all gold bearing tenure and associated infrastructure in the Tennant Creek region, which historically was Australia’s highest-grade goldfield.

Emmerson receives a free carried 6% royalty on gold produced over the whole joint venture Southern Project area where TCMG is earning its interest by financing exploration.

More drilling next year after wet season ends

The initial drill program will test the newly identified Traminer and Analytic prospects, located along strike from the high-grade Chariot gold mine (which produced gold between 2003 and 2005 at an average 10.9 grams per tonne) and the TC 8 copper mine

Historical drilling at Analytic unearthed 24m at 6.3g/t gold, including 3m at 48.3g/t gold.

Further drilling of similarly generated targets will continue next year after the end of the wet season.

Emmerson managing Director Rob Bills says the return to testing greenfield targets has the potential to add more high-grade gold to the joint venture operation.

“Further highly ranked projects within the joint venture area will continue to be generated and drill tested during the 2023 field season,” he added.

In addition, there will also be drilling of projects with brownfield or near-mine potential.

Magnetic survey at Hermitage polymetallic target this month

Later this month Emmerson will conduct a down-hole magnetic survey at its 100%-owned Hermitage copper-gold discovery at Tennant Creek.

In September the company reported what it described as “outstanding” copper, gold, cobalt and bismuth grades from drilling at Hermitage.

Emmerson is the first company since 2008 to apply new proprietary exploration techniques and concepts, after consolidating a 1,706sq km tenement package.

The company has stated previously that the decline in discovery rates in the region does not reflect metal depletion but rather is a direct consequence of the lack of fresh concepts and technologies.

Emmerson maintains the view that only half of the deposits in the Tennant Creek mineral field have been discovered.