EMU NL (ASX: EMU) (“EMU” or “the Company”) is pleased to release gold assay results from its maiden reconnaissance field survey conducted during July and August 2023 at the Georgetown Project in Queensland.
HIGHLIGHTS*
- Camp Oven Creek area historic surface rock assay results ranging from 12.9 g/t up to 224 g/t gold and 24 g/t to 135 g/t silver from rock samples in broad rhyolite breccia hosted veins in the NW1.
- 15.4 g/t gold assay results recorded from EMU’s first reconnaissance rock samples in the NE Dagworth area, ~19km east from Camp Oven Creek, along Delany Fault extension2.
- 15 historic rock values greater than 31.1 g/t gold (> 1 Ounce) identified from zones in the Camp Oven Creek, 130 Quartz Vein and Quartz 250 Prospects (“new historic information”)3.
- Three historic rock samples in the Quartz 130 prospect returned values ranging from 51 g/t gold up to 73 g/t gold4.
- Limited historic drilling at Rhyolite Breccia/Turtle Arm returned values to 2m at 15.8 g/t Au and 3m at 2.8 g/t Au.( See table 3).
- 86 historic surface rock samples greater than 1 g/t gold with a weighted average of 17.3 g/t within Georgetown EPM 27667 – NW Camp Oven Creek/Turtle Arm quadrant5.
- 2 EMU first reconnaissance rock samples returned 36.1 g/t gold and 25.6 g/t gold respectively from the Sandy Creek prospect just south of Georgetown6.
- Limited historic drilling at Munitions Creek (EPM 27642) returned values to 4m at 2.73 g/t Au and 1m at 10.85 g/t Au. (see table 3).
- EMU’s geological teams currently in field undertaking follow up sampling from these areas.
Commenting on the high gold values historically reported in the project area coupled with EMU’s latest results, EMU’s Chairman Mr Peter Thomas commented:
“It is quite remarkable that the Georgetown tenements and surrounding areas have not been comprehensively subjected to a modern and systematic exploration effort previously. EMU’s initial “first pass” reconnaissance field survey comprised the collection of a limited number of samples from rock outcrop, termite mounds and stream sediments in multiple areas targeted for gold, base metals, lithium and critical minerals. In addition to the recently reported copper, silver and lead values, the gold assay results and historic exploration results support EMU’s view that the project has the potential to deliver world-class discoveries which underpinned its decision to farm into the project”.
Further to the recent announcement7 confirming a substantial high-grade copper and silver system at Fiery Creek and high-grade lead and silver assays results from Snake Creek, EMU reports high grade gold values from rock chip samples collected from a number of prospective areas at Georgetown.
Recently compiled historic gold and base metal drill hole and surface outcrop sampling values from the Georgetown area and from within the three tenements which comprise the project, confirm the outstanding prospectivity of the project.
EMU is currently undertaking a new, limited and targeted follow-up exploration programme with teams in the field over areas not previously sampled to investigate zones which have historically reported high-grade gold and base metal values.
Figure 1 – Identified current and historic Gold Occurrences at Fiery Creek and Georgetown Tenements
Table 1. Emu’s Significant Gold Sample Assay Results (>1 g/t Au in bold text)
Historical Gold Reported:
Fiery Creek EPM 27667 (Gold + Base Metal Targets)
Based upon significant results that have emerged from the compilation of historic data and the limited field work already completed by EMU, the significant northern portion of the Fiery Creek tenement (EPM 27667) is emerging as a high priority for both precious and base metals. The higher priority targets include structural settings for gold in the Camp Oven Creek, Quartz 130, Quartz 250 and Dagworth Prospect areas, whilst the Fiery Creek prospect within the Yataga Granodiorite demands further attention due to the high-grade outcrop sample assay values for copper and silver.
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