Sign up USA
Proactive Investors - Run By Investors For Investors

Emmerson Resources begins survey for further cobalt, copper and gold at Tennant Creek

The company now has exposure to cobalt, a high-value battery metal.
Tennant Creek Project
Emmerson will commence a drill campaign later this month

Emmerson Resources Ltd (ASX:ERM) has commenced a 680-line kilometre airborne geophysical survey to pinpoint further high-grade cobalt, copper and gold deposits within the Tennant Creek Project in the Northern Territory.

The survey is over a highly prospective belt of rocks termed the northern corridor, which is defined by a regional gravity ridge which hosts a variety of gold, copper and now with the inclusion of Jasper Hills, cobalt.

Shares are up almost 10% early afternoon to 10 cents.

READ: Emmerson Resources shares rise on high-grade cobalt, copper, gold hits at Tennant Creek

Recent high-grade hits from Jasper Hills include 14 metres at 6.72 g/t gold, 0.28% cobalt and 2.17% copper from 284 metres, including 5 metres at 16.6 g/t gold and 2 metres at 1.32% cobalt.

The restructuring of the Tennant Creek Mineral Field JV with Evolution Mining (ASX:EVN) has enabled Emmerson to focus on the generation of new targets within the 2,600 square kilometre project area retained by Emmerson.

Emmerson discovered high-grade copper and gold at the Goanna prospect back in 2012 utilising geological models and airborne electrical geophysics.

The company is now capitalising on this know-how and deploying an even more powerful and sophisticated airborne system that utilises the very latest technology.

Significant potential to pinpoint further mineralisation

Emmerson has signed a deal with New Resolution Geophysics (NRG) to fly their latest helicopter-borne, time domain electromagnetic (HTDEM) system.

The association of cobalt and copper sulphides that characterise most of the deposits and prospects in the northern corridor is expected to generate detectable signatures for the HTDEM.

This combined with Emmerson’s understanding of the formation of these deposit types provides great potential to pinpoint further mineralisation.

Drilling to extend producing gold mine

Emmerson will commence a drill campaign later this month at the Edna Beryl district within the Tennant Creek project.

The drilling will be aimed at delineating extensions outside the Edna Beryl Mine area, where the company is currently producing gold bars via a royalty agreement with a specialist small-scale miner.

Emmerson will also test for extensions to a promising new discovery called Mauretania, with the remainder of the drill holes spread across other potential small mine projects.

View full ERM profile View Profile

Emmerson Resources Ltd Timeline

Related Articles

1536759814_Bluejay---ilmenite.jpg
September 12 2018
Bluejay is now sending off product samples to potential customers
Signpost saying Nevada
March 28 2018
The near-term transition of the Eureka Gold Project to a cash-generating asset will be a major milestone for Tyranna.
Picture of pilot plant
April 04 2018
An impressive pre-feasibility study features a pre-tax valuation of $227 million for start-up capital expenditure of $65 million.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use