EMU NL (ASX: EMU) provided an update on the drilling progress made by the company at the Vidalita and Alunita prospects in the Maricunga Belt in Chile. As per the company, the drilling results and significant assays of gold and silver confirm the potential for multiple mineralised systems in Vidalita and Alunita prospects.
EMU NL completed aircore drilling which resulted in 37 holes for 5,824 metres, till date this year. The company received assay results from 20 drill holes, and the assay results of 17 drill holes are still pending. Out of 20 drill assay results, the company presented the assay results of 2 drills holes and further drilling is still in progress.
The drill hole identified as 5300-12 is towards 25m east of the discovery hole which resulted in 24m at 5.0 g/t Au and 28 g/t Ag from 20m.
The drill hole 5300-12 interested significant mineralisation which includes 16m at 2.0 g/t Au from 92m including 4m at 4.1 g/t Au within a large interval of 52m at 0.8 g/t Au from 52m.
The drill hole identified as 5400-4 is towards 100m north of the discovery hole and intersected 18m at 0.4 g/t Au from 92m including 2m at 0.8 g/t Au. The composite assay of 2m at 0.8 g/t Au indicates the presence of high grades in depths.
The silver assay is still pending from both the holes, which intersected near the discovery hole. The company re-interpreted the drill and Induced Polarisation data and discovered additional anomalies at the Vidalita Prospect previously.
The prospect is 1km north-northeast to the Vidalita prospect, and the company received high-grade silver assays and indications of associated gold. The drill hole 6500-2 is located 70m down dip to the west of a 2018 intersection which resulted in 15m at 114 g/ of silver from 44m and accounted for 3.6 ounces of silver.
The drill hole identified as 6500-3 resulted in 20m at 0.1 g/t gold and 39.3 g/t including 4m at 0.25 g/t gold and 92 g/t silver. The 39.3g/t Ag accounts for 1.3ounces of silver and 92g/t accounts for 3 ounces of silver. As per the company, the gold at depth in the prospect indicates a potential for the discovery of a new gold-silver deposit.
EMU NL mentioned that the accumulated data suggest a separate sub-parallel system trend toward the northwest over a strike length of at least 1km. The further bonanza grades indication comes from an assay of rock float samples taken from 300m north of the Alunita drilling, the assay resulted in 14.5 g/t Au and 177 g/t Ag.
The company further plans to follow up on the results from the Alunita prospect.
In a nutshell, the results confirm at least two large epithermal high sulphidation systems along with many other systems to the north and northwest. As per the company, the aircore drilling will keep focusing on the newly identified gold-silver trends in both the prospects.
During the time of writing this report, the stock of the company closed the day’s trading at A$0.055 (as on 10th April 2019), down by 3.51% as compared to its previous close.
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