Page 65 - pd299-Nov21-mag-web_neat

Emmerson hits the accelerator

mmerson Resources Ltd managing di-
Erector Rob Bills believes the proverbial
handbrake has finally been released after
several stalled attempts to monetise the
company’s suite of stranded gold assets in
Tennant Creek.
It appears Bills’ long-held wish for a cen-
tral processing facility in the region is set
to become reality around this time next
year after Emmerson’s JV partner Ten-
nant Consolidated Mining Group (TCMG)
secured a second-hand 700,000 tpa CIL
plant which includes a recently overhauled
crushing and grinding circuit plus a Nelson
gravity concentrator.
Subject to permitting now under way,
the plant will be dismantled, transported
and reassembled at the historic Nobles
Nob site during the first half of next year.
Emmerson’s Chariot and Mauretania
deposits loom as the likely first cabs off
the rank for processing via the new cen- emmerson is using newly available drone
tralised facility. As part of its small mines JORC, so we haven’t been able to talk technology to identify new targets in the
agreement with TCMG, the company will about them, which is understandably very Tennant Creek mineral field
receive a free-carried 6% gold royalty from frustrating for Emmerson shareholders,”
production on its extensive ground pack- Bills said. g/t gold from 57m and 45m @ 0.39% cop-
age in Tennant Creek. “In terms of valuation, it means a lot, and per from 84m.
“It’ll be fantastic for the region because to Emmerson shareholders it especially Bills also hailed the effectiveness of a
these stranded assets and [the lack of a means a lot because, at long last, you can newly available ultra-high resolution drone
centralised milling facility] has been a bit start placing a valuation on some of those magnetic survey in helping the company
of a handbrake for not only Emmerson, projects. We’re really looking forward to identify new targets in the Tennant Creek
but lots of other explorers in the Ten- releasing our first resource, probably in mineral field.
nant Creek area given the nearest mill is a month’s time once we’ve finalised the “Basically, the gold in Tennant Creek
3,000km away,” Bills told Paydirt. JORC process with Optiro. is associated with iron, so it’s either mag-
“Sure, you can make discoveries – and “With our recent discovery at Maure- netite or hematite, but typically it’s some-
we’ve made three discoveries there – but tania, even though we’ve had some crack- where in the middle,” he said. “It can have
there’s no way to process them at present. er drill announcements, I don’t think the quite a subtle mag anomaly if it’s mainly
The mill is locked in now which is a big public domain has quite realised the po- hematite, or it can be all magnetite and be
step forward for us and so many others.” tential and the grade of that yet. We think very, very strong.
Under a strategic alliance which was fur- that is going to be a high-grade open pit “Previous explorers have focused on
ther consolidated during the June quarter, and quite a significant one, too.” those strong anomalies and drilled those
Emmerson will manage the five-year ex- The geologist in Bills shines through to death, so we’re focused on the subtle
ploration plan, valued at a minimum $10.5 evidently when he starts talking about a ones. But to find the subtle ones, you need
million, focused on early-stage opportuni- potential underground opportunity at Mau- a tool like a drone mag because the reso-
ties. When assets are advanced to a cer- retania. Drilling recently intersected 3.95m lution is just so much better. If you flew old
tain level, TCMG assumes the responsibil- @ 57 g/t gold, 0.22% bismuth, 20.6 g/t sil- fixed-wing technology, you won’t even see
ity for their potential mining and processing ver and 0.23% copper from 207m (includ- it.
at the incoming centralised facility. ing 1m @ 102 g/t gold and 0.8m @ 135.5 “We’re spending a lot of money at the
Chariot, Mauretania, Malbec West and g/t gold) from the only deep hole into the front end on the drone, it’s probably a
Black Snake are the four Emmerson pro- primary mineralisation. $400,000 exercise for us, and it’s probably
jects currently in the mining JV. TCMG is “When you’re in the supergene, you also taken six months to really fly what we
now undertaking flora and fauna studies normally get an upgrade, so to get that in want to fly, but I think it’s going to gener-
and open pit optimisation work with a view the primary zone, hopefully it’s an indica- ate some really exciting new targets. It’s all
towards having some or all of those de- tion that the primary mineralisation is also about populating that part of the pipeline.”
posits in a shovel-ready position for when very high grade, which would be fantastic Exploration is currently on hiatus on Em-
the mill is switched on. if it’s 100m below the open pit floor,” Bills merson’s New South Wales projects due
JORC-compliant resource estimates explained. to the COVID-19 outbreak, but Bills said
for the likes of Chariot and Mauretania Other recent assays outside the high- the company would look to resume work
could also be published before the end of grade mineralisation within the future open there once it is safe to do so.
the year in a move which Bills expects to pit at Mauretania include 25m @ 2.57 g/t
be very openly welcomed by Emmerson gold and 0.24% copper from 93m (includ- – Michael Washbourne
shareholders. ing 3m @ 6% gold and 3m @ 5.2 g/t gold)
“Most of our existing resources are non-
as well as 30m @ 0.44% copper and 0.3

aUSTRaLIa’S PaYDIRT NOVeMBeR 2021 Page 65