NSW Exploration Update
Perth, Oct 11, 2018 AEST (ABN Newswire) - Emmerson Resources Limited (
ASX:ERM) (EMMRF:OTCMKTS) announces NSW Exploration Update.
Highlights
- Large scale pervasive alteration encountered from an enlarged auger drill program at the Whatling Hill project with geochemical results pending
- Correlation with previous encouraging rockchip samples have potential to greatly expand the copper and gold footprint of the underlying mineralisation
- Rock chip values of up to 2% copper and 0.25g/t gold in quartz stockwork veins within altered monzonite intrusives
- Recent age dating and "green rock" studies of alteration suggest similarities to other metal fertile Ordovician intrusive centres (e.g. Newcrest's world class Cadia-Ridgeway copper-gold deposit that contains resources of 8.7Mt Cu & 42Moz gold)
- New tenement granted to consolidate existing ground position at Fifield and Kadungle
- Ground based geophysical surveys planned for November to assist in defining drill targets
Emmerson's Managing Director; Mr Rob Bills commented:
"An expanded soil geochemical survey over our recently discovered Whatling Hill copper-gold project continues to exhibit the hallmarks of an early stage discovery. Alteration and quartz veining from this expanded auger drill program suggests extensions of the original mineralisation to the south. Assay results are pending and, if positive, will provide a focus for future geophysical and drilling programs.
"Emmerson has expanded its ground position in the region which demonstrates our confidence in the prospcetivity and potential. These copper-gold porphyry deposits typically cluster and we are in a very fertile metallogenic province, bounded by the Macquarie Arc and Lachlan Transfer Zone."
Whatling Hill (see Figures 1, 2 & 3 in link below)
Early indications from the expanded auger drill progam has encountered widespread pervasive epidote and chlorite alteration - consistent with intersecting the outer zone of a porphyry copper-gold system (see Figure 4 in link below). Whilst assay results are pending, it is anticipated that when combined with the encouraging rock chip results (ASX June 2018), the prospective footprint of such a system has expanded to over 4km2. This grid based auger program also intersected altered monzonite intrusives and volcanics which we believe are consistent with the host rocks of other similar, Ordovician aged poprhyry systems in the belt (for example the North Parkes and Cadia-Ridgeway deposits). This expanded soil grid covered previously reported copper and gold mineralisation from quartz stockwork magnetite veins within highly altered monzonite intrusives. This project (plus our five other NSW projects) were selected from the application of proprietary predictive targeting models, aimed to increase the probability of a major discovery of copper and gold.
Given that Whatling Hill has never been drill tested nor seen systematic exploration, the proposed exploration program aims to pinpoint the best parts of the mineralisation of what we now consider a large copper-gold system. Typically these porphyry style systems occur in clusters and this is why we have now expanded our ground holding in the Lachlan Transfer Zone of the Macquarie Arc.
The next stages of exploration at Whatling Hill include assaying and processing of the latest geochemical results, before pinpointing the best areas to undertake geophysical (Induced Polarisation) surveys. This will provide further insights into the underlying alteration and mineralisation ahead of drilling.
Other NSW Projects
The results of alteration and age dating from samples across our five other NSW projects continue to be assessed as part of our sponsorship of the University of Tasmania, CODES ARC Linkage project. This project aims to provide cutting edge science that complement our field based activities - mainly through analysis of the alteration (trace and rare earth elements within the outer green rock or epidote/chlorite zone). Initial findings at Kadungle and Fifield suggest we are within the geochemical footprint of a porphyry system. Moreover, age dating of the monzonite intrusion within the Raggatt Volcanics at Fifield yielded a Late Ordovician to Early Silurian age - consistent with dates of the mineralised intrusions at the world class North Parkes and Cadia-Ridgeway gold-copper deposits.
To view figures, please visit:
http://abnnewswire.net/lnk/1Z81EAI2
About Emmerson Resources Limited
Emmerson Resources Limited (ASX:ERM) (FRA:42E) 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.
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