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The latest update is out from Emmerson Resources Limited ( (AU:ERM) ).
Emmerson Resources Limited has announced an update to the Mineral Resource Estimate (MRE) for the White Devil gold deposit, which is part of the Tennant Creek Mineral Field. The updated MRE now totals 4.71 million tonnes at 4.1 grams per tonne of gold, amounting to 616,200 ounces of contained gold. This includes a significant increase in the Indicated Resource category, which now stands at 549,100 ounces. The company has commenced feasibility studies to determine the best development strategy, with the potential for a significant portion of the open pit resource to convert to Probable Ore Reserves. Emmerson has also exercised its rights to retain a 40% contributing interest in the White Devil Project, which is expected to enhance the project’s economic viability and future development.
More about Emmerson Resources Limited
Emmerson Resources Limited is a company operating in the mining industry, primarily focusing on gold exploration and development. The company is engaged in joint ventures to expand its resource base and increase confidence in its mineral resources, particularly in the Tennant Creek Mineral Field in Northern Territory, Australia.
Average Trading Volume: 698,391
Technical Sentiment Signal: Buy
Current Market Cap: A$188.5M
For detailed information about ERM stock, go to TipRanks’ Stock Analysis page.