Announcement Date: 2022-12-12
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Emmerson Resources Ltd.
Project name: Golden Forty
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 28m at 28.30g/t Au, from 141m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The Golden Forty (G40) project is within the 100% Emmerson owned Southern Project Area where JV partner TCMG is earning an interest by funding the exploration (Figure 1). Production records from the G40 mine indicate a head grade of 11.9g/t gold until cessation of mining in 1983 due to ground conditions and incursion of ground water – not due to a lack of high-grade gold ore. Drill hole GFRC063 intersected 28m of high-grade gold mineralisation corresponding with intense brecciation and alteration. This drill result extends the high-grade gold mineralisation at least a further 50m north of the historic Golden Forty mine (Figure 2 and 3). Drill hole GFRC066 intersected a 12m zone of hematite – magnetite – chlorite alteration a further 15m down plunge to the north of GFRC063. Assays for this intersection are expected in early 2023 and indicate a very favourable zone of dilation within the east-northeast trending shear zones and fold closure (Figure 3). This phase 1 drill campaign at G40 consisted of 20 RC and 6 diamond drill holes, totalling some 4,500m. Assay results have now been received from eight (8) of the RC drill holes, with all intersecting hematite-magnetite-chlorite alteration. The diamond drill holes, two of which were drilled at G40 East as part of the collaborative funding with the NTGS (under the NT Government Resourcing the Territory initiative) are still being processed, with assay results expected in late February 2023. Mineralisation remains open in all directions, and further drilling will be required to inform conceptual studies as to potential for both high grade open pit and underground mining.
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