The North Laverton Gold Project consists of 34 exploration licences (including 4 applications) and 4 mining licences covering the majority of the Dingo Range greenstone belt with more than 800km-2 of tenure (refer Figure 1) and has the potential to host multiple standalone deposits or satellite deposits to supply additional ore to a central mill.
It includes the gold mineralised prospects of Boundary, Neptune, Stirling, Hurleys and Bungarra extending over a 6.4km strike length. The planned ~98km resource definition drilling programme spans across the Boundary, Neptune, Stirling, Hurleys and Bungarra prospects. Once completed there will be circa 150,000m of new drilling available to estimate an updated North Laverton resource by the end of FY23 and a maiden reserve estimate to follow shortly thereafter. Drilling during the initial stages of the programme has been limited to a single RC drill rig.
This month a diamond rig has mobilised to site and commenced drilling. A third drill rig (RC) is expected to mobilise to site in Q3FY23 to escalate drilling capacity. To date 255 collars (25,277m) of the 98,000m resource definition programme have been completed of which 59 collars (10,936m) has been completed since Emerald acquired a controlling interest in Bullseye. The initial drilling has been limited to the Boundary and Neptune prospects of the Boundary-Bungarra mineralised trend (Figure 2) with highlighted significant results including
Several of the collars completed also tested the edges of the known mineralisation and results indicate the mineralisation is open and untested in all directions. In particular, mineralisation is open along strike to the north-west and south-east and down dip to the north-east (refer Figure 9). This coincides with the previously announced significant Au and Cu in-soil anomaly indicating the known gold results are part of a potentially larger mineralised system (refer ASX announcement dated 28 July 2022). The mineralisation is associated with at least three high-grade, narrow, stacked quartz vein sets, dipping shallowly to the north-east (refer Figure 9) with current interpreted strike length of 650m (refer ASX announcement dated 28 July 2022). The programme is investigating both down dip and along strike continuity of the structures.
A contractor has been engaged to complete ground magnetics/radiometrics and IP geophysical surveys over the prospective areas with anomalous Au and Cu geochemical signatures located within a ~6km radius of the Memot artisanal workings (refer ASX announcement dated 28 July 2022). Whilst both surveys have been completed, the data processing and interpretations are ongoing. The geophysical surveys will assist with the regional structural interpretation, as well as potentially identifying prospective exploration targets similar to intrusive centered, sediment hosted Au-Cu (Sepon) style mineralisation.
About Emerald Resources NL
Emerald is a developer and explorer of gold projects. In particular, Emerald has been focused on the development and commissioning of its most advanced project, the Okvau Gold Mine in Cambodia which saw first production in June 2021. Since commercial production commenced in September 2021, Emerald has now poured over 5,000kgs of gold dore from its operations. Emerald also holds a number of other projects in Cambodia which are made up of a combination of granted mining licences (100% owned by Emerald) and interests joint venture agreements. Together, Emerald's interest in its Cambodian Projects covers a combined area of 1,639km-2. Emerald has a controlling interest in Bullseye Mining Limited (59.44%), an unlisted Australian public company with three Western Australian gold projects totalling in excess of 1,200km-2 of highly prospective gold tenure including the North Laverton Gold Project which covers in excess of 800km-2 of the entire Dingo Range greenstone belt.
Forward Looking Statement
This document contains certain forward looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates and projections about the industry in which Emerald Resources operates, and beliefs and assumptions regarding the Company's future performance. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks'' 'estimates', 'potential' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known or unknown risks, uncertainties and other factors, some of which are beyond the control of the Company, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward looking statements, which reflect the view of Emerald Resources only as of the date of this announcement. The forward looking statements made in this release relate only to events as of the date on which the statements are made. Emerald Resources will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority. This document has been prepared in compliance with the current JORC Code 2012 Edition and the ASX listing Rules. The Company believes that is has a reasonable basis for making the forward-looking statements in this announcement, including with respect to any production targets and financial estimates, based on the information contained in this announcement. Reference is made to ASX Announcements dated 1 May 2017 and 26 November 2019. All material assumptions underpinning the production target, or the forecast financial information continue to apply and have not materially changed. 100% of the production target referred to in this announcement is based on Probable Ore Reserves.
Competent Persons Statements
The information in this report that relates to Exploration and Drill Results from Memot (Appendix Five) and from Bullseye Recent and Historic Drilling (Appendix One and Three) is based on information compiled by Mr Keith King, who is an employee to the Company and who is a Member of The Australasian Institute of Mining & Metallurgy. Mr Keith King has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Keith King has reviewed the contents of this release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears. The information in this report that relates to Mineral Resources for the Okvau Gold Deposit was prepared by EGRM Consulting Pty Ltd, Mr Brett Gossage, who is a consultant to the Company, who is a Member of the Australasian Institute of Mining & Metallurgy (AIG), and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Gossage has reviewed the contents of this news release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears. Information in this announcement that relates to Ore Reserves for the Okvau Gold Deposit is based on, and fairly represents, information and supporting documentation prepared by Mr Glenn Williamson, an independent specialist mining consultant. Mr Williamson is a Member of the Australasian Institute of Mining & Metallurgy. Mr Williamson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person (or 'CP') as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Williamson has reviewed the contents of this news release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears.
Contact:
Registered Office 1110
Hay Street West Perth WA 6005
T: +61 8 9286 6300
EMERALD RESOURCES NL 
