ERM's recent announcement of the discovery at Kadungle of a 4km...

ERM's recent announcement of the discovery at Kadungle of a 4km square mineralised field with strong indicators for a Cu porphyry and epithermal Au targets is exciting for sure. It is also encouraging to read the comments from the EVN quarterly report relating to Tennant Creek. Following is the pertinent extract from that report:

"Tennant Creek, Northern Territory (earning 65% in Stage 1)"

"Framework drilling commenced at Edna Beryl late in June with 14 RC holes (including one pre-collar for a diamond tail) completed for 2,800m. The aim of the program is to determine the source of the gravity anomaly which may indicate presence of a larger volume of the favourable ironstone host rocks. Drilling has intersected mainly haematitic shales and minor quartz bearing structures and associated chlorite alteration. A deep diamond hole is underway to test the steeply plunging mineralisation trend modelled in the variography."

"The hole is planned to cross ironstone positions 100m below the deepest mineralised intercepts at Edna Beryl. Results of this drilling will be reported next quarter."

"Emmerson Resources recently announced the commencement of small scale production under a tribute agreement by an operator specialising in small underground mining operations (refer Emmerson Resource’s ASX release 23 June 2017). The tribute arrangement relates to a 3D envelope surrounding shallow oxide mineralisation."

"Drilling sponsored by Evolution at Edna Beryl has been designed to test extensions beyond this envelope with the aim of identifying a material resource target that may eventually develop into a commercial-scale mining opportunity for the partners."

That report from EVN indicates that assays from this latest drilling should be imminent in the next few weeks, or so, if the drilling did indeed commence in late June 2017. The deep diamond drill hole results could be instructive about the prospects of finding a large IOCG deposit down below the high grade drill results found in the ironstones at Edna Beryl so far.

Time will tell.

Cheers