Emmerson Resources and Kenex use big data to find gold copper
(MENAFN - ProactiveInvestors - Australia) New copper-gold targets identified by Emmerson Resources' partner Kenex in the Lachlan Fold belt
Well-funded Emmerson Resources (ASX:ERM) is not resting on its laurels with the Tennant Creek Mineral Field in the Northern Territory finding new gold and copper-gold projects in the mineral rich Lachlan Fold belt of New South Wales.
Using "big data" 2D and 3D predictive geological modelling from alliance partner Kenex Emmerson has identified four high ranking district scale epithermal gold-silver and porphyry copper-gold targets that occur near Wellington Parkes Temora and Fifield.
The district targets constitute some 768 square kilometres in the area.
Under the alliance Emmerson will hold exclusive rights to any new targets identified for a period of 12 months and may make a small payment to Kenex to acquire full exclusivity.
Kenex can earn up to a 10% interest in any tenements acquired as part of the alliance upon achieving certain predetermined milestones with exploration costs shared proportionally.
These new tenement applications over district scale targets are known to have similar tectonic geological geophysical and geochemical addresses to known resources but remain under explored.
They share most if not all of the attributes that are present within the larger gold and copper-gold discoveries and deposits within the Lachlan Fold Belt such as Cadia Ridgeway and Cowal.
Significantly some of these targets contain historical workings and or previous exploration which support Kenex's predictive work. The first phase of data compilation and evaluation is underway as the applications proceed towards grant.
This is in line with Emmerson's strategy of systematically acquiring large district scale opportunities at modest cost as a result of the downturn in the resources cycle.
Kenex lifts discovery probability
Using Kenex's predictive targeting models from “big geoscientific data sets lifts the probability of a discovery providing an opportunity for Emmerson's managing director Rob Bills to explore or joint venture with other parties.
Kenex's big data has produced similar products in over 20 countries/regions around the world including in Oman (for VMS mineralisation) New Zealand (epithermal gold) and more locally at Emmerson's own Tennant Creek Project in the Northern Territory.
Emmerson managing director Rob Bills said: “The first batches of targets from the strategic alliance with Kenex are underpinned by a very rigorous process of identifying the key elements that pinpoint world class mineralisation in the Lachlan Fold Belt.
Given Kenex's track record "We are confident that this innovative approach and investment in area selection will produce high quality projects and eventually mines.
"Further targets both on open and held ground are currently being assessed in the Cloncurry IOCG province and southern Queensland. "We anticipate undertaking the first phase of exploration this year over a number of these targets and in parallel have received interest from a number of larger companies that understand the science behind this innovative approach to targeting."
On Kenex’s Managing Director Dr Greg Partington's part: “For Kenex this strategic alliance goes a long way to meeting the goals and ambitions that we set ourselves as a company over the last few years. "The prospectivity and targeting we have been developing is a much undervalued process and will deliver industry leading advantages to the alliance."
Tennant Creek project
Emmerson is well funded going into 2016 with $5.6 million in available cash and the JV over our Tennant Creek project funded by Evolution Mining (ASX:EVM).
Emmerson holds 2500 square kilometres of ground in the TCMF owns the only gold mill in the region and holds a substantial geological database plus extensive infrastructure and equipment. Emmerson has 95% of the highly prospective TCMF where only 8% of the historical drilling has penetrated below 150 metres.
The strategic alliance with Kenex to identify new gold and copper targets in Australia has borne early fruit.
In the March quarter Emmerson has milestones ahead including:
- JV meeting with Evolution to finalise 2016 drill targets for the Tennant Creek project; and
- Commence Tribute Mining at Edna Beryl – providing the permitting and shaft sink progress according to plan. Gold production will recommence at Edna Beryl following signing of tribute agreement in 2015. <