Emmerson Resources (ASX:ERM) has kicked off a minimum ~4,000m drilling programme to include both Reverse Circulation and Diamond drilling at Tennant Creek in the Northern Territory.
The drill programme to test for extensions to the historic high grade gold mineralisation (~12g/t Au) at the Golden Forty Mine and potential at the nearby Golden Forty East project.
The programme is operated and managed by Emmerson and funded as part of the $5.0m earn-in to the Southern Project Area by Joint Venture (JV) partner Tennant Consolidated Mining Group (TCMG).
Successful results will advance this project to a scoping study with potential to be added to the mining schedule which contains recently announced resources for both Chariot.
Emmerson is receiving a free carried six per cent gold production royalty from projects within the Mining JV.
The Golden Forty mine reportedly produced more than 50,000 ounces of gold at a high grade of ~12g/t gold in the typical high value style of mineralisation seen across Tennant Creek,” Managing Director, Rob Bills, said.
“Drilling at Golden Forty is aimed at adding further resources to the inventory and mine schedule ahead of establishment of the central mill by our partner TCMG.
“We have recently announced JORC resource estimates for Chariot and Mauretania under the Small Mines JV with partner TCMG. Providing this current program is successful, we anticipate resource additions from Golden Forty that may be amenable to future open pit mining.”
Golden Forty Drill Programme – drill testing for high grade gold
The Golden Forty project is within the 100% Emmerson owned Southern Project Area where our JV partner TCMG is earning an interest by funding the exploration.
There are several drill targets in the vicinity of the historic Golden Forty Mine that have not seen modern exploration, and now with the completion of the high-resolution drone magnetic survey, Emmerson has identified several potential extensions to the mineralisation.
These include drilling to convert the historic Golden Forty remnants to a JORC-compliant estimate, extensions to the mineralisation along strike at Golden Forty East, and some work with the CSIRO on refining the processing of the drone magnetics to better pinpoint potential targets at Golden Forty South.
This latter project has potential to add significant value across the entire Tennant Creek Mineral Field and has been awarded co-funding with the NTGS through the Geophysics and Drilling Collaboration.
The historic Golden Forty Mine briefly commenced operations in 1938, however it was not until 1969 that the mine operated as a productive underground operation. Mining was via a vertical shaft to a depth of 150m and via cross-cut development and open-hole stoping on four east-west levels. Production ceased abruptly when failing ground conditions and increased water ingress prevented the safe extraction of ore.
The mine was decommissioned in 1983 due to these issues – not due to a lack of ore nor declining grades. The Golden Forty Mine produced 144,056 tonnes of ore at a recovered head grade of 11.9g/t gold between 1969 and 1983.
A total of 22 with a combined total depth of ~4,000m will drill test the Golden Forty area. The first diamond hole has commenced at the Golden Forty East prospect and intersected ironstone which is the typical host to the mineralisation. The drilling programme is anticipated to be completed in late October 2022.