GOLD AT EXTENSION & EXTENSION NORTH MARYMIA:

The Company has identified significant gold exploration potential in the extensions of the rich Plutonic Well Greenstone Belt that lies in the eastern parts of the Company’s Beyondie tenure in Western Australia. The Company controls a 21km length, or approximately 25%, of the Plutonic Well Greenstone Belt, which has produced some 5 Moz’s of gold since the 1990’s and hosts Barrick Gold Corporations’ Plutonic deposit, along with Dampier Gold’s Marymia Gold Deposit. Emergent identified the gold potential within its Beyondie leases as part of a detailed geological assessment of its current asset portfolio. This forms part of Emergent’s strategy of unlocking value in the tenements the company currently holds.

Extension & Extension North Gold Project:

The northeast-trending Plutonic Well Greenstone Belt (Plutonic Belt) is the sixth largest gold region in Western Australia. The gold resources identified are at least 7 Moz’s, sourced from over 50 gold deposits of various sizes and grades belonging to the Marymia and Plutonic Gold mines.   

The 21 km extension to the Plutonic Belt, northeast of the Marymia gold deposit, is covered by two 100% Emergent exploration licences 52/2474 and 52/2559. Unlike southern parts of the Plutonic Belt, this northern extension has not been subject to any systematic or modern exploration since the early 1990’s.

Emergent has identified several noteworthy, shallow, gold intersections within its tenure during its compilation of historical drilling results, including:

Table 1: Historical drilling results

The intercepts are described as supergene gold enrichment in saprolite. Importantly, primary sources have yet to be identified for these intersected gold occurrences and Emergent is eager to progress these potential opportunities. The drilling, completed by Great Central Mines in 1991 just prior to the company refocusing its efforts on diamond exploration, targeted shallow oxide resources, with very little drilling exceeding a vertical depth of 60 m.

 Figure1: Project and infrastructure in close proximity to Extension and Extension North Marymia

Emergent believes that significant greenfields exploration opportunities exist within the greenstone belt.  Emergent believes that Extension and Extension North represent a real opportunity for discovery of larger economic gold deposits, once the primary sources have been located.  The Plutonic Mine is located 56km to the south west (with a milling capacity of 1.8 mtpa and currently has available, 50% capacity).

The northern extent of the Plutonic haul road that serviced the Bulgera pit is only 7km from Emergent's tenures southern boundary.

Emergent believes that a mine gate sale of ore or a toll milling arrangement with Barrick, the owners of the Plutonic mine will greatly reduce CAPEX and OPEX expenditure and allow for the fast tracking of mining operations to exploit any new discoveries. 

Historical gold intercepts

Much of the greenstone belt in the northern extension lies under sand cover or shallow sediments associated with the Bangemall Basin. Outcrop of the underlying greenstone is limited. Consequently, historic exploration in the area is largely inadequate and has left gold targets untested with significant scope to explore using modern exploration techniques and an integrated multidisciplinary approach.  Emergent is now scoping for  these exploration programs and advancing programs of works.

Joint Venture with Raven Resources

Emergent Resources has entered into a Joint Venture arrangement with Raven Resources on tenements E69/2685 & E52/2525.  The Joint Venture gives Emergent the right to earn an 80% interest in tenements E69/2685 & E52/2525 by meeting tenement expenditure commitments of $190,000 and the issue of Emergent ordinary fully paid shares to the value of $40,000.  The 20% interest held by Raven Resources is free carried through to the decision to commence bankable feasibility. The Joint Venture with Raven Resources targets gold zones lying in the interpreted extension of the Plutonic Well Greenstone Belt which has hosted over 7 Moz’s of gold resources.