EMMERSON RESOURCES LIMITED - TENNANT CREEK COPPER GOLD RESOURCE EMERGES
Emmerson Resources (ASX: ERM) is pleased to announce an Indicated and Inferred JORC resource estimation of 50,800t copper and 70,000oz gold at the Gecko and Orlando copper/gold deposits within the Tennant Creek Mineral Field (TCMF) in the Northern Territory.
The company aims to expand this through an aggressive drilling campaign in coming months. Emmerson MD Rob Bills said today: "These initial resource estimates for Gecko and Orlando are a great start which we hope to grow as we step out within the respective mine corridors.The existing development and infrastructure at Gecko and Orlando plus 100% ownership of the Warrego mill provides Emmerson with a big head start for a return to production" (fig 1). "The recent success at Goanna and Monitor (ASX Release 22 Aug & 6 Oct; 2011) indicate great potential for delineating additional resources and adding to the Gecko and Orlando metal inventory. This near mine potential has been overlooked by previous explorers and has come from the application of new geological concepts combined with flying the world's most powerful helicopter EM geophysical survey.
Emmerson recently discovered the Goanna mineralisation which yielded intersections including 21m @ 2.63% Cu from 297m including 7m @ 4.96% Cu from 299m. Separately the drilling also hit 2m @ 4.9% Cu from 289m. The ore featured high grade bismuth historically a strong indicator for the nearby presence of gold. The new Goanna discovery is within the highly prospective "Gecko Structural Corridor" and follows the recent encouraging drilling results and discovery at Monitor where high grade copper intercepts such as 27m @ 1.75% Cu including 6m @ 2.67% Cu and 1812ppm Bi and 6m @ 3.53% Cu occur approximately 200m below the surface (297m down the drill hole)
New JORC Compliant Copper-Gold Resource Estimation
In light of the escalation of the gold and copper prices, Emmerson engaged independent resource consultants Optiro to supervise a detailed review of several unmined resources within its Tennant Creek project. From this, it became evident that the Gecko and Orlando deposits were standout opportunities. This work included confirmation of historic drill hole collar positions, validation of the database, re-assaying of drill core, reappraisal of cut off grades plus associated wireframes, comparing and reconciling the various historic resource estimations and underground development, and reviewing the QA/QC protocols in accordance with the guidelines of the JORC code of reporting mineral resources and reserves.
The information in this report which relates to Mineral Resources is based upon information compiled by Ian Glacken, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Ian Glacken is an employee of Optiro Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Ian Glacken consents to the inclusion in the report of a summary based upon his information in the form and context in which it appears (Table 1).
For further information please see the entire ASX Announcement released by Emmerson Resources: HERE