EMU (EMU NL, +72.7% to 9.5cps, m.cap A$20m, Gold Explorer): Mike Millikan

  • EMU has received first assays from RC drilling at the historical Gnows Nest gold mine and Monte Cristo prospect, located ~30km SE of Yalgoo, WA.
  • The drill program has both confirmed and extended high-grade gold mineralisation with significant results (some +50g/t Au) of:

o    4m @ 20.40g/t gold from 51m (incl. 1m @ 57.41g/t gold from 52m and 1m @ 16.86g/t gold from 54m)

o    4m @ 18.32g/t gold from 95m (incl. 1m @ 17.53g/t gold from 95m and 1m @ 51.66g/t gold from 96m)

o   3m @ 42.18g/t gold from 77m (incl. 1m @ 89.57g/t gold from 78m and 1m @ 32.64g/t gold from 79m)

o    2m @ 26.88g/t gold from 60m (incl. 1m @ 53.05g/t gold from 60m)

o    6m @ 6.42g/t gold from 116m (incl. 1m @ 30.19g/t gold from 118m and 1m @ 47.12g/t goldfrom 63m)

o    Narrow but very high grade gold, remains open along strike and at depth.

o    Mineralisation appears to be largely vein-hosted contained within a 10-20m wide shear zone, within a mafic host (dolerite)

  • Gnows Nest was historically mined between 1923-1941 to a depth of ~145m below surface, with previously owners estimating a small resource of ~13.8koz @ 3.78g/t Au – gold system open.
  • Extensional drilling is ongoing at Gnows Nest with 9,000m scheduled for completion by the end of Feb’21 – further assays are pending.
  • EMU has also completed an IP geophysical survey over the area, with results being processed and interpreted – new targets are expected to be generated for follow-up.