Emmerson Resources Expands Drilling Program at White Devil Gold Project
EMMERSON RESOURCES LIMITED (ERM) Share Update January 2025 Friday 17th
Emmerson Resources Expands Drilling at White Devil Gold Project
Emmerson Resources Limited (ASX: ERM) has announced the recommencement and expansion of its drilling program at the White Devil Gold Project in Tennant Creek, Northern Territory.
Instant Summary:
- RC drilling recommences at White Devil Gold Project.
- Drilling program expanded to include 10 new holes.
- Initial resource estimate expected in late January 2025.
- Assay results anticipated from late January to early March 2025.
Drilling Program Details
Emmerson Resources Limited has resumed its reverse circulation (RC) drilling at the White Devil Gold Project, located in the Tennant Creek Mineral Field. The project, which has been a focus of exploration due to its high-grade gold potential, will see an expanded drilling program. Initially, 31 out of 35 planned drill holes were completed in 2024, targeting the shallow eastern extension of the deposit.
The company has now increased the drilling scope to include a total of 10 new holes. This expansion aims to provide comprehensive coverage of approximately 240 meters of the potential eastern strike extension, with a nominal 20m x 20m drill hole spacing, and an additional 80 meters with a 40m x 20m spacing.
Resource Estimate and Assay Results
In conjunction with the drilling, Emmerson is finalizing an initial JORC 2012 Mineral Resource Estimate (MRE) for the White Devil deposit. This estimate is based on pre-2024 drilling data and is expected to be released by late January 2025. The initial MRE will not include data from the newly identified shallow eastern extension, which will be incorporated in a subsequent update expected by the end of March 2025.
Assay results from the December 2024 drilling are anticipated to be available from late January to mid-February 2025, with results from the current drilling program expected between late February and early March 2025.
The expansion of the drilling program at the White Devil Gold Project suggests increased confidence in the potential of the deposit. This could positively impact Emmerson's stock as investors anticipate the potential for significant resource additions. The timely release of assay results and resource estimates will be crucial in maintaining investor interest and confidence.
Investor Reaction:
Analysts are likely to view the expanded drilling program as a positive development, reflecting Emmerson's commitment to unlocking the value of the White Devil Gold Project. However, the market will be keenly awaiting the assay results and resource estimates to gauge the project's true potential.
Conclusion:
Investors should keep a close watch on the upcoming assay results and the initial resource estimate release. These developments will provide critical insights into the potential value of the White Devil Gold Project and Emmerson's future exploration strategy.