Emmerson Resources Limited (ASX:ERM)
ASX
RELEASE
17 APRIL 2008
Maiden Drilling Program Commences at West Gibbet
Prospect,
Tennant Creek
- RC drilling commences
on the first of a number of Au-Cu targets identified by Emmerson.
- Initial 8-hole program
underway at the West Gibbet Prospect targeting gold hosted by
quartz-magnetite ironstone (best historical results of 3.96m @ 37.1g/t
Au).
Announcement
Emmerson Resources Limited (ASX:ERM – “Emmerson”) is pleased to announce the
commencement of its maiden drilling program within its 100%-owned tenements within the Tennant Creek Mineral Field in the Northern
Territory.
The first hole of an 8-hole drilling program
has commenced at the West Gibbet Prospect, one of many target areas that have
been identified by Emmerson as part of its brownfields exploration program.
The West Gibbet Prospect is located
approximately 6km west of Tennant Creek and was originally defined in the
1950’s by a large magnetic anomaly. Drill testing by previous explorers
confirmed that the source of the magnetic response was a quartz-magnetite
ironstone, carrying significant gold grades, the best being 3.96 metres at 37.1g/t from 240.8 metres down-hole.
Subsequent drilling by the previous
explorers failed to repeat these grades, either at depth or from the near
surface environment.
The West Gibbet “target” was
developed by Emmerson after remodelling of the position of the ironstone bodies
and reinterpretation of the structural control on the gold mineralisation.
The current drill program will test the
potential for new ore positions, both between the previous shallow and deep
intercepts and also for extensions along strike. This program is the start of a
planned 30,000m program designed to drill test a pipeline of both
brownfields and greenfields opportunities.
Yours Sincerely
Mr. Rob Bills
Managing
Director and Chief Executive Officer
For further
information, please contact Mr. Rob Bills on (08) 9489 7079
Background
– Emmerson Resources
Emmerson
Resources (ASX: ERM – “Emmerson”) is an Australian-based gold
company focused on the exploration and development of the richly-endowed
Tennant Creek Mineral Field (TCMF) in the Northern Territory of Australia,
where it has a dominant ground position covering some 2,700km2. The Company
listed on the ASX in December 2007 following a successful A$20 million IPO.
Emmerson has
implemented an aggressive exploration program aimed at delineating extensions
to existing mineralisation in the brownfields environment and also to discover
a new generation of Au-Cu deposits in the greenfields environment. The strategy
is based around the application of modern and innovative exploration techniques
to reactivate the world class Tennant Creek Mineral Field - a field which
produced over 5.5 million ounces of gold and 470,000 tonnes of copper since its
discovery in the 1930s.
The
Company’s asset base also includes ownership of the only gold treatment
facility in the region (the Warrego carbon-in-pulp processing plant) and a
substantial geological database plus extensive infrastructure and equipment.
Emmerson is headed by a 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.
READ CORPORATE
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