28/09/2021 - 17:05

Emu hits more high-grade gold veins at Gnows Nest in WA

28/09/2021 - 17:05

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ASX listed Emu NL has hit several stunning gold mineralised quartz vein intercepts from a reverse circulation drill program at its lode-gold style Gnows Nest project near Yalgoo in WA. Significant intersections include 2m at an impressive12.62 grams per tonne gold from 121m that hosted a 1m section grading an even more impressive18.57 grams per tonne gold.

Gnows Nest long section looking east displaying results from sections of the first 5 holes in the current drill programme. Credit: File.

ASX listed Emu NL has hit several stunning gold mineralised quartz vein intercepts from a reverse circulation drill program at its lode-gold style Gnows Nest project near Yalgoo in WA. Significant intersections include 2 metres at an impressive12.62 grams per tonne gold from 121m that hosted a 1m section grading an even more impressive18.57 grams per tonne gold.

Another 2m intersection came in at a solid 11.43 grams per tonne gold from 208m including 1m at 17.53 grams per tonne gold, also from 208m.

Emu has now completed drilling at Gnows Nest Deeps with all 10 holes intersecting shear-hosted, gold-bearing quartz veins. Importantly, the company has defined a new gold anomalous zone between the high-grade northern and southern shoots at Gnows Nest suggesting a continuation of mineralisation in a saddle zone.

Emu is about two-thirds of the way through the drill program with approximately 4,000m of the 6,500m programme completed. Assays are eagerly anticipated from the remaining holes.

Emu’s Gnows Nest gold project sits in the resurgent Murchison mineral field of Western Australia, 32 kilometres to the south-east of the historical Yalgoo mining centre. The Murchison is currently attracting a horde of new explorers following the success of the likes of Surefire and White Cliff Minerals with their respective impressive new gold discoveries in the area.

The company acquired the Gnows Nest gold project late last year and has quietly continued to build on its tenement position across the historic terrane.

Emu’s tenure now stretches from the Brilliant gold prospect in the south through to the northern strike extensions of the Monte Cristo discovery, covering more than 6km of gold-rich strike.

The tenements overlay a complex structural flexure in greenstone terrane, hence the potential for gold bearing quartz-sulphide veins in the area. The geological setting is also considered favourable for volcanic-hosted base metal mineralisation, as it is in the same greenstone belt that hosts the world-class Golden Grove copper-zinc mine.

The ten drill holes drilled at Gnows Nest Deeps targeted extensions of the high-grade mineralisation below the historic mine workings and along strike to the south.  All drill holes successfully intersected variable widths of quartz veining within the north-south trending host shear zone.

Results from the first batch of selected samples dispatched for priority assay results have returned considerable high-grade gold intercepts at depth at the historic gold mine. With the benefit of the latest round of results Emu has modelled a new mineralised saddle zone between two shoots in an area previously interpreted from historic drilling to be largely barren.

Drilling is currently in progress at the Monte Cristo prospect where Emu is systematically testing the strike and depth extensions to the previously encountered high-grade gold mineralisation. The first ten holes completed intersecting the target shear zone with quartz veining. Early visual indications are promising with all holes intersecting variable widths of quartz veining and visible sulphides.  The company is systematically sending samples to the assay lab and is awaiting the results.

Two regional targets located in the southern portion of the project have also been drill tested. The historical gold workings at Dantes Camp and Brilliant, located on a pronounced parallel, northwest-trending induced polarisation anomaly exhibit similar geological characteristics to Gnows Nest according to the company.  Four drill holes have been completed at the Dantes Camp target where a 4m zone of fractured and brecciated quartz veining at a downhole depth of 40m was intersected. Significantly, the quartz vein material is associated with fine disseminated sulphides and Emu believes it could be a potential host for gold mineralisation. A similar 2m wide quartz vein zone was intersected at 100m within sheared mafic rocks. The company is awaiting assay results from these holes.

At the Brilliant prospect, three drill holes were completed to test the historical workings at depth and interpreted strike extensions to the north and south along geological structures. Assay results are also pending from these holes.

Several other regional targets, including Watertank Hill located approximately 850m to the southeast of Monte Cristo, will also be tested in the current drill campaign.

The current drill program was designed to follow-up a 10,932m RC drilling campaign completed in the first quarter of this year which uncovered a treasure trove of gold mineralisation, including 3 metres at a stunning 42.18 grams per tonne gold and this interval contained an even more outstanding 1m at 89.57 grams per tonne gold from 78m down-hole.

It is worth noting that prior exploration by previous owners of the project yielded a shallow JORC-resource of 113,400 tonnes at a respectable 3.78 grams per tonne gold over the Gnows Nest mine, with the current drilling program not only showing the potential for an open pit operation, but also beginning to define a deeper underground mining opportunity.

Emu’s ongoing success at Gnows Nest is likely to catch the eye of other miners in the region. With a clutch of nearby mills possibly looking for higher-grade feed, including Silver Lake’s Deflector mill, just 50km to the west of Gnows Nest, Emu just might manage to eke out some early cash flows at Gnows Nest if it can prove up a reasonable resource.  

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

 

 

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