Managing Director, Rob Bills commented: ''This drill program at Mauretania was aimed at closing off the mineralisation outside of the conceptual open pit boundary.
However, exciting results from the new drone survey and first high-grade intersection into the primary gold mineralisation now expands the potential for further extensions to both the oxide and primary gold zones. The next phase at Mauretania includes undertaking further studies ahead of mining including a JORC resource estimate. The proof-of-concept drone survey over Mauretania provides confidence in identifying similar subtle magnetic anomalies within the Tennant Creek Mineral Field that have been overlooked or not present in the lower resolution, fixed wing surveys. Our Joint Venture partner, TCMG, is fully funding the advanced mining studies at Mauretania as part of the $5.5m earn-in and Small Mines Joint Venture over the Northern Project Area at Tennant Creek. The recent purchase of a CIL mill by TCMG will accelerate the establishment of a central milling facility in Tennant Creek - unlocking multiple stranded gold assets in the region and when in production, Emmerson's free carried 6% gold production royalty.'
Mauretania Drilling - testing for extensions to bonanza oxide gold mineralisation
Mauretania is located within the Northern Project Area (NPA) of the Tennant Creek Mineral Field (TCMF), where drilling was focused on testing for extensions to the shallow gold oxide zone outside of the conceptual open pit boundary. To support the mine planning process, three geotechnical drill holes were also completed, with one intersecting ironstone with results of: 3.6m at 1.14g/t gold from 43.5m (DDHGT-02) The highlight of this program however was the intersection in drill hole MTTD010 of 3.95m at 57g/t gold, which in conjunction with the new drone magnetic anomaly to the northeast, bodes well for expanding the Mauretania mineralisation. This primary gold mineralisation occurs approximately 100m below the conceptual pit floor, but within the footwall of a massive hematite +/- magnetite ironstone. With the gold occurring in late stringers associated with hematite, on the footwall of a 7m wide zone of brecciation and intense chlorite alteration. The association of gold with hematite that postdate the early magnetite ironstones underpins our exploration model and has been the hallmark of other Emmerson discoveries at Goanna, Monitor and Edna Beryl.
Emmerson are advancing Tennant Creek on two major fronts
Mining Economic Assessments: Undertaking advanced scoping studies on existing projects such as Mauretania, Chariot, Malbec West and Black Snake under the JV with TCMG - where it is anticipated that some will advance to JORC compliant resource estimates in late 2021. These projects will provide feed for TCMG's mill, plus support a 'see through valuation' of the emerging Emmerson royalty business. Noting that under the SMJV, the costs associated with this phase of work are covered 100% by TCMG.
Accelerated Exploration: drilling is to recommence in October (subject to the constraints COVID and securing a drill rig) on Emmerson's 100% owned Tennant Creek Projects of Edna Beryl and Hermitage. The planned Jasper Hills drilling, which will be conducted under the terms of the landmark Joint Venture agreement with the Marntula Corporation, remains subject to approval from the Aboriginal Area Protection Authority.
Contact:
Tel: +61 8 9381 7838
About Emmerson Resources, Tennant Creek and New South Wales
Emmerson has a commanding land position and is exploring the Tennant Creek Mineral Field (TCMF), one of Australia's highestgrade gold and copper fields that has produced over 5.5Moz of gold and 470,000t of copper from deposits including Warrego, White Devil, Orlando, Gecko, Chariot, and Golden Forty. These high-grade deposits are highly valuable exploration targets, and to date, Emmerson's discoveries include high-grade gold at Edna Beryl and Mauretania, plus copper-gold at Goanna and Monitor. These discoveries were found utilising new technology and concepts and are the first discoveries in the TCMF for over two decades. A recent rush of new tenement applications by major and junior explorers in the Tennant Creek district, not only highlights the prospectivity of the region for copper and gold but also Emmerson's strategic 1,700km2 land holding and proprietary knowledge gained through focussed exploration activities in the field for over 12 years. Emmerson is also fast tracking exploration across five early-stage gold-copper projects in NSW, identified (with our strategic alliance partner Kenex/Duke Exploration ASX:DEX) from the application of 2D and 3D predictive targeting models - aimed at increasing the probability of discovery. Duke can earn up to 10% (to pre BFS) of any project generated providing certain success milestones are met. The highly prospective Macquarie Arc in NSW hosts >80Moz gold and >13Mt copper with these resources heavily weighted to areas of outcrop or limited cover. Emmerson's five exploration projects contain many attributes of the known deposits within the Macquarie Arc but remain underexplored due to historical impediments, including overlying cover (farmlands and younger rocks) and a lack of effective historic exploration
About Tennant Consolidated Mining Group (TCMG)
TCMG is a subsidiary of TA Private Capital Security Agent Ltd, a Hong Kong headquartered assets management firm, best known for its private debt solutions spanning trade finance through mid-tenor supply chain financing to mid to longer tenor term and project loans. TA has a diverse portfolio of capital deployed globally including within the Australian mining sector. TCMG's has acquired tenements from other parties in the TCMF and intend to rationalise assets in the Tennant Creek area, with the objective of undertaking detailed mining studies with the ultimate goal of developing a portfolio of resources that will sustainably feed their centralised processing facility in Tennant Creek.
TRUE NORTH COPPER LIMITED 
