Emmerson Resources (ERM) is a resource company that successfully raised $A20 million in a heavily oversubscribed IPO during November 2007. The company is focused on gold and gold-copper exploration.
One of its key assets is a commanding 2,200km2 tenement position in the world class Tennant Creek Mineral Field. This field is characterised by extremely high grades of gold (average gold grades of 15-20 g/t) and gold-copper (average copper grade of 2-4%), and historical production in excess of 5.5 million ounces of gold and 488,000 tonnes of copper.
Emmerson Resources aims to maximise shareholder value by implementing an aggressive and strategic exploration program, underpinned by a clear business process. This process aims to build and maintain a quality pipeline of projects and deploy new concepts and technologies aimed at unlocking the next generation of Tennant Creek deposits.
Emmerson Resources own the only sizable carbon-in-pulp (CIP) gold plant in the region. This plant has an annual production capacity of 300,000 tonnes-per-annum and is presently on "care and maintenance" until we build a sufficient resource base. In this environment of escalating capital costs, this mill is of high strategic value given it will greatly reduce the "barriers" to early production. This mill also has the potential to capitalise on any "third party" sourced mill feed.
Emmerson Resources owns an extensive geoscientific database that includes numerous geophysical surveys and drill cores from previous explorers. Innovative reprocessing and reinterpretation of this data has been instrumental in providing a deep pipeline of drill ready opportunities for our brownfields program. Furthermore, the database provides a rich source of deposit data that we are using to test and calibrate our new concepts and detection technologies forthe greenfields program.
Emmerson Resources have a proactive stakeholder relations policy. It is aimed at supporting and continuing to build mutually beneficial relationships with the NT Government, local Tennant Creek community, including the traditional owners (commensurate with our financial capacity). We are party to nine separate agreements with the Central Land Council which detail the terms and conditions pertaining to Emmerson Resources' exploration access, activities and future mine developments.
Our mission is to discover and develop iron oxide copper-gold deposits within the Tennant Creek Mineral Field, utilising the best and more appropriate concepts and technology.
Our aggressive exploration efforts in the Tennant Creek Mineral Field have the potential to unlock a new generation of deposit types that have previously gone undetected.
Our belief is that the decline in discovery history of the Tennant Creek Mineral Field stems from a lack of new concepts and exploration search technologies.
To achieve this we have a three-pronged approach:
The brownfields program is designed to deliver to the more immediate time horizon and given it is building on previously identified mineralisation, is deemed to be of lower technical risk. The brownfields targets have been generated by applying new processing technologies and concepts to the existing database and identifying “orphan drill holes” – that is mineralised drill holes outside of the known resources that represent rock volumes that have been insufficiently tested. In addition we have a number of historical “insitu” resources that are being re-evaluated in light of the escalation in metal prices and also with respect to identifying possible extensions to the known mineralisation.
The greenfields program is aimed at discovering the next generation of iron-oxide copper gold deposits (IOCG) within the Tennant Creek Mineral Field (TCMF) and requires a multi-faceted approach. The historical data suggests that deposits within the TCMF are strongly controlled by major shear zones and faults and that these provide the plumbing system for the iron oxide and later gold and copper rich fluids.
Thus our approach is to better predict where these deposits occur from a better understanding of their structural setting and to also be able to detect them utilising a combination of gravity and magnetic geophysics. Therefore we have initiated one of the largest geophysical programs in the field to define the large scale structural architecture and to also detect new deposits, specifically the non magnetic hematite hosted deposits that may have previously gone undetected.
Emmerson continues to look at opportunities to accelerate our activities whilst ensuring shareholders retain maximum value. Thus this part of our strategy is principally aimed at attracting investment into the more advanced copper rich deposits within our tenements, where previous companies have identified residual or unmined resources that require additional drilling and concept phase studies and also where there is good near mine potential for resources additions.
We also recognise that sustainable exploration and development requires solid business foundations including:
- respecting the interests of other stakeholders;
- ensuring we are pro active on safety and the environment;
- attracting and retaining the best people;
- pursuing our vision, mission and strategy within a business model that will maximise shareholder value; and
- by maintaining exemplary ethics and governance.