Emmerson Resources Limited announced that drilling was successful in intersecting ironstone in nearly all holes and proving the continuation of high grade gold. During the execution of this drill campaign further ironstones where intersected, including ironstone 3 (EB North) and ironstone 4 (EB Far North) which augers well for increasing the extent of the Edna Beryl system. In particular drill hole EBWRC041 provided an insight into the potential of ironstone 3 (EB North) with outstanding results of 8m at 157g/t gold, 34.5g/t silver and 0.5% copper only 130m below the surface. The first 3 drill holes have been completed at Retsina with ironstone being intersected in all three holes but assay results pending. Retsina is a new regional target in a similar structural setting to Edna Beryl but with very limited outcrop. Of interest is the presence of brecciated hematite ironstone at surface which returned a 'near ore' geochemical signature. Development at the Edna Beryl Tribute mine continued with the near completion of the Main and Vent shafts, plus a cross cut connecting the two providing a second means of egress and ventilation. Production from the mine is contingent on the timely approval of the Mine Management Plan which will be submitted to the Mines Department in the next quarter. Emmerson entered into a strategic alliance with Kenex Limited with the specific objective of developing tools to predict new high quality gold and copper deposits beneath such cover and within the prospective geological belts of NSW and QLD. Exploration has commenced on three of thier new NSW projects with the acquisition of high resolution airborne magnetics survey. This survey covers EL8463 - Wellington, EL 8465 - Te mora and the Kadungle JV with Aurelia Metals. It is aimed at identifying the most prospective areas for on ground activities which will follow once the data has been processed and accessed. In addition the alliance has recently had a new Exploration Licence Application (ELA 5417) accepted. The application covers high priority targets generated under the Kenex alliance as well as numerous historical prospects, such as Kiola. The application area covers 577km2, is located 60km SSE of the giant Cadia copper-gold mine and is believed highly prospective for both epithermal gold-silver and porphyry copper-gold. The activities are planned for the March quarter: to complete the collection and analysis of the high resolution aeromagnetics over three of the five NSW projects; reprocessing the existing geophysical datasets, field and drill core assessment of the Kadungle Project ahead of drilling.