Maiden Drilling Programme Confirms High-Grade Gold At Gnows Nest
Emu NL (ASX:EMU) has successfully confirmed a high-grade gold find from the company’s maiden drilling programme at the Gnows Nest Project located ~30km southeast of Yalgoo in Western Australia.
The programme has successfully extended the high-grade gold mineralisation previously identified at the recently acquired Monte Cristo Gold prospect, (three km NW of the historic Gnows Nest Mine in an extension of the same structural setting) and the Gnows Nest Gold prospect.
Significant intersections include:
Gnows Nest Prospect
- 4m @ 20.40 g/t au from 51m, including 1m at 57.41 g/t from 52m and 1m at 16.86 g/t from 54m
- 4m @ 18.32 g/t au from 95m, including 1m @ 17.53 g/t from 95m and 1m at 51.66 g/t from 96m
- 3m @ 42.18 g/t au from 77m, including 1m @ 89.57 g/t from 78m and 1m at 32.64 g/t from 78m
Monte Cristo Prospect
- 3m @ 13.35 g/t au from 67m, including 1m @ 19.90 g/t from 68m
- 6m @ 6.51 g/t au from 120m, including 1m @ 22.77 g/t from 121m
Chairman, Peter Thomas, said gold mineralisation remains open at depth and along strike at both the Gnows Nest and Monte Cristo
Extensional drilling is ongoing at the Gnows Nest prospect, with the 9,000m maiden drill programme scheduled for completion at the end of February
Further assay results are expected over the next six weeks
“These exceptional early results from our maiden drilling programme at the Gnows Nest and Monte Cristo prospects is just reward for loyal shareholders and the hard work of EMU’s management team and board following the transformational acquisition of our high quality precious and base metal portfolio in WA,” Mr Thomas said.
“These results provide early and strong encouragement for the potential of a materially large gold deposit emerging at Gnows Nest and could be the catalyst for the company to transition from explorer to producer near term.
“Whilst we just might have a cub by the tail at the Gnows Nest Gold Project, we are excitedly awaiting the outcome of active programmes at all our projects during the remainder of the year.”