Emmerson Resources Limited: Promising New Porphyry Copper-Gold Discovery in NSW
- First pass fieldwork at Emmerson's 100%-owned Fifield, Sebastopol, Temora, Kiola and Wellington projects in NSW complete
- Whatling Hill copper-gold prospect at Fifield exhibits the hallmarks of an early stage porphyry copper-gold discovery as follows:
o Highly anomalous rock chip samples up to 0.25g/t gold and 2% copper
o Outcrops of intrusive inferred to be of similar age and character to other world-class deposits in the belt (Cadia-Ridgeway and North Parkes)
o Pervasive, widespread alteration of epidote-chlorite and quartz-magnetite veins
o Current auger drilling program returning visible chalcopyrite and extensive alteration
- Rockchip samples up to 27.8g/t gold at Sebastopol
- Rockchip samples up to 19.6% copper and 0.36g/t gold at Kiola
- Auger drilling at Whatling Hill and fieldwork across other NSW projects underway
Emmerson's Managing Director; Mr Rob Bills commented: "The Whatling Hill discovery is further testament to the effectiveness of the science-based, systematic exploration that Emmerson is conducting across its project areas in NSW. A discovery across any of these projects has the potential to be transformational for the Company - particularly given the paucity of new copper-gold projects and the competition for new resources from the other major players in the field such as Newcrest Mining, Fortescue, Evolution Mining, China Molybdenum, Regis Resources, Sandfire and Aurelia Metals.
"Whilst Whatling Hill is still at an early stage, it features all the hallmarks of a promising gold-rich porphyry copper system. The strength of these early results has lead to an accelerated exploration program with the mobilisation of an auger rig to ascertain the extent of copper and gold anomalism ahead of deeper drilling. Local farmer, John Whatling, after who Emmerson have named the project, commented: "This is the first time in my lifetime here that any company has undertaken systematic exploration on my property and sampled any of these outcrops."
"Emmerson's proprietary approach to targeting or predicting where the next big discovery will be in NSW is beginning to pay dividends. The calibre of our projects at Fifield, Kadungle, and Wellington are a testament to this innovative approach which provides a clear focus for ground-based activities."
Whatling Hill consists of a discrete magnetic anomaly bounded by WNW trending faults with minimal surface expression. The discovery was a result of purposeful exploration driven by a proprietary targeting model developed by Emmerson and its strategic alliance partner Kenex Ltd. The results to date consist of rockchip samples across an area of ~1km2 (which is the extent of outcrop/float and may not reflect the size/extent of the underlying mineralisation).
The rockchip values are elevated in gold (up to 0.25g/t) and copper (up to 2%), mainly from sheeted quartz-magnetite veins locally hosted in monzonite intrusions. There has been no historical drilling or soil sampling in the area. The alteration assemblage of epidote, chlorite with quartz, magnetite, chalcopyrite and malachite veins indicate proximity to a porphyry gold- copper system, but within the outer "green rock" halo. Further field work is currently underway, complimented by the latest scientific analysis as part of the University of Tasmania, ARC Linkage project. This analysis is aimed at identifying metallogenic fertile systems and providing vectors to the central part of the mineralisation (see Figure 3 in link below).
Given the promising results, Emmerson has accelerated exploration at Whatling Hill where an auger rig is currently completing a large geochemical program to acurately define the underlying mineralisation and guide future drilling.
The Wellington project was targeted utilising similar methodologies as Emmerson's other NSW projects and sits along strike from Newcrest Mining's world-class Cadia-Ridgeway gold-copper deposit.
Auger soil sampling across the Ponto prospect (the northernmost area) has revealed moderate copper anomalism, corresponding to outcrops/float of copper altered intrusives (see Figure 4 in link below). The most consistent geochemical result came from Ponto East, with a 500m2 area of +200ppm copper and combined gold-copper-molybednum anomalism. A new area was identified in the far north (New Anomaly) that has strong copper-gold anomalism associated with gabbro/diorite intrusive.
Further work is underway both in the field and at the University of Tasmania to better understand the significance of these results.
Other NSW projects
Field-based activities continue across Emmerson's other NSW projects, with some of the more significant results coming from the Sebastopol gold project. These include up to 27.8g/t gold from rock chip samples within the Morning Star project. This cluster of historic workings is associated with a series of sub paralell quartz veins that contain gold, galena, chalcopyrite and pyrite hosted by the Wagga group turbidites.
Other results of significance come from our Kiola project where up to 19.6% copper and 0.36g/t gold has been reported from rock chips. Whilse the elevated copper is associated with surficial malachite veins, the entire 28km2 "Kiola Geochemical Zone" is anomalous in copper and requires further work.
Note: Kenex Ltd can earn up to a 10% interest in these NSW tenements (excluding Kadungle) upon achieving certain predetermined milestones.
About Tennant Creek and Emmerson Resources
Emmerson recently commenced exploration on new gold-copper projects in NSW, identified (with our strategic alliance partner Kenex Limited) from the application of 2D and 3D predictive targeting models - aimed at increasing the probability of discovery. The highly prospective Macquarie Arc in NSW hosts >80Mozs gold and >13Mt copper with these resources heavily weighted to areas of outcrop or limited cover. Emmerson's five exploration projects contain many attributes of the known deposits within the Macquarie Arc but remain under explored due to historical impediments, including an overlying cover (plus farmlands) and a lack of exploration focus. Kadungle is a JV with Aurelia Metals covering 43km2 adjacent to Emmerson's Fifield project.
In addition, Emmerson is exploring the Tennant Creek Mineral Field (TCMF), one of Australia's highest-grade gold and copper fields producing over 5.5 Mozs of gold and 470,000 tonnes of copper from deposits including Warrego, White Devil, Orlando, Gecko, Chariot and Golden Forty. These high-grade deposits are highly valuable exploration targets, and to date discoveries include high-grade gold at Edna Beryl and Mauretania, plus copper-gold at Goanna and Monitor. These are the first discoveries in the TCMF for over a decade.
Emmerson announced the first gold pour from the high-grade Edna Beryl gold mine in December 2017. This mine is being operated under a Tribute Agreement with a specialist small miner, the Edna Beryl Mining Company
Emmerson recently announced a strategic alliance with Territory resources to build a central processing hub in Tennant Creek to support the milling and processing from Emmerson's small gold mines and other third party feed. This alliance will also extend to an earn-in and JV with Territory Resources over Emmerson's southern tenements.
Emmerson is led by a board and management group of experienced Australian mining executives including former MIM and WMC mining executive Andrew McIlwain as non-executive chairman, and former senior BHP Billiton and WMC executive Rob Bills as Managing Director and CEO.
To view tables and figures, please visit:
About Emmerson Resources Limited:
Emmerson Resources Ltd. (ASX:ERM) (FRA:42E) is an ASX listed gold resource company that recently (July, 2014) secured a landmark Joint Venture agreement with Evolution Mining (ASX:EVN).
- Has an aggressive exploration program and dominant position in the world class Tennant Creek Mineral Field.
- Is applying new exploration concepts and technologies to unlock the next generation of gold and copper deposits.
- Owns the only carbon-in-pulp gold plant in the region.
- Has an experienced Board and Management team.
For further information, please contact:
Emmerson Resources Ltd.
Rob Bills Managing Director and CEO
Media enquiries Michael Vaughan, Fivemark Partners