Emmerson Resources Limited announced drilling commenced at Golden Forty Gold Project in Tennant Creek. The Golden Forty project is within the 100% Emmerson owned Southern Project Area where its 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 mineralization.

These include drilling to convert the historic Golden Forty remnants to a JORC-compliant estimate, extensions to the mineralization 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 twenty-two holes with a combined total depth of approximately 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 mineralization.

The drilling program is anticipated to be completed in late October 2022.