EMU NL (ASX: EMU) announced on 27th March 2019 that the company has re-interpreted the drill and Induced Polarisation (IP) geophysical data at the Vidalita Prospect, which identified further high-grade gold targets. The previous discovery hole designated as 5300-8 returned an assay of 24m at 5g/t Au and 28g/t Ag from 20m after the re-interpretation.
As per the company, the re-interpr00eted results and the mineralisation style of the prospect confirms an excellent potential for discovery of a high-grade gold-silver deposit like Salares Norte. EMU also received an indication of a strong shallow; north-northwest plunge trend of the gold-silver mineralisation post the compilation of the updated drill database into a 3D induced polarisation survey.
The plunge trend of gold-silver mineralisation occurs as an extensive zone of demagnetisation in the ground magnetic data which is reckoned by the company to be caused by vast areas of extensive alteration associated with NNW trending structures and associated gold-silver mineralisation.
The Induced Polarisation geophysical method is principally used to identify areas of intense disseminated sulphide development and massive sulphide or massive clay alteration through chargeability and resistivity data respectively.
As per the company, only one diamond hole completed by the company in 2018 has tested the IP chargeability and conductivity anomalies. The hole only tested the top edge of the anomalies and intersected 82m at 0.2 g/t Au, 11 g/t Ag and 0.12% Cu at 174m from the hole identified as 5700-1, including 1m at 0.8 g/t Au, 1049 g/t Ag and 5.4% Cu.
However, the strongest anomaly at the depth remains untested, and the occurrence of bonanza silver and high-grade copper along with thick intercepts of gold coincident with the IP anomalies is encouraging. A shallow anomaly trend to the IP is evident in the data for at least 1km of strike and 150m, and 300m depths below the surface and these anomalies have not been tested previously by the diamond drill holes, and as per the company, those anomalies could signify a sulphide-rich core to the system at depth.
The prospect of the company is in Maricunga gold belt present in the Atacama region in northern Chile, which host several world-class gold and silver projects. The company’s prospect across the Maricunga belt covers approx. 136km square of area, which is secured by mineral exploration and exploitation concessions.
EMU NL holds an option to acquire a 100% interest from two Chilean companies known as Prospex SpA and BLC SpA over certain concessions in Vidalita and Jotahues.
EMU is now planning and prioritising diamond drilling (DD) to further test the geophysical anomalies of high-grade gold, silver, and copper. EMU is continuing with infill drilling in the aircore rig at Vidalita to track the previously interpreted gold-silver-rich structures near the surface along strike and down plunge. As per the company, it will direct drilling to follow the discovery hole further specifically.
The stock of the company managed to close at A$0.068 (as on 27th March 2019), up by 3.03% as compared to its previous close.
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