- Emerald Resources (EMR) reports “significant” gold exploration results at the Okvau and North Laverton projects
- The company conducted additional drilling at the Okwau gold project in Cambodia, which continued to provide significant gold mineralization adjacent to the existing resource with results including five meters at 23.26 g/t gold from 258 meters
- Meanwhile, Emerald continues to work on its 60 percent North Laverton gold project in Western Australia, which has also returned gold mineralization.
- A resource update is now expected by the end of FY23, closely followed by a reserve calculation
- Emerald Resources ends the day up 2.61 percent to close at $1.18
Emerald Resources (EMR) reported “significant” gold exploration results at its Okvau and North Laverton projects.
The company is engaged in additional drilling at the Okvau gold project in Cambodia, which Emerald says provides continued significant gold mineralization adjacent to existing resources.
Recent results from the company included 10 meters at 14.17 grams gold per tonne (g/t) gold from 258 metres, including five meters at 23.26 g/t gold from 258 metres.
Following the results, the company began updating Okvau’s resources and reserves, which should include intersections outside of the current indicated resources, such as three meters at 14.28 g/t gold from 432 meters.
Meanwhile, Emerald continues work on its 60 percent North Laverton gold project in Western Australia.
The project, which is jointly owned with Bullseye Mining, has returned gold mineralization from the resource exploration program with reverse circulation to the Boundary and Neptune prospects.
Drill results included two meters grading 4.94 g/t gold from 62 meters, including one meter grading 9.07 g/t gold from 69 meters and one meter grading 42.9 g/t gold from 72 meters.
A resource update is now expected by the end of FY23, which will be followed closely by the calculation of reserves.
Emerald Resources ended the day up 2.61 percent to close at $1.18.