The NT Independent is providing an update of resource news from across the Northern Territory. Highlights this week include Empire Energy Group presenting at the SEAAOC Conference, Chase Mining being granted three exploration licences, Emmerson Resources launching another drilling program at the Golden Forty gold project, and Core Lithium intersecting 2.27 per cent lithium oxide at the BP33 deposit within the Finniss lithium project.

Emmerson commences drilling at Golden Forty

Emmerson Resources (ERM) recently launched another drilling program at its Golden Forty gold project in Tennant Creek. The new plan will include a minimum of 4,000 metres of reverse circulation and diamond drilling across 22 holes, which will be tested for extensions to the initially-mined high-grade gold mineralisation. The drilling targets were identified using a high-resolution drone magnetic survey, which discovered potential extensions to the mineralisation.

ERM has already started drilling its first diamond hole at the Golden Forty East prospect, intersecting ironstone. The company expects to finish the drilling program by October this year.

“Providing this current program is successful, we anticipate resource additions from Golden Forty that may be amenable to future open pit mining,” ERM managing director Rob Bills said.

Owned wholly by ERM, the project falls within the company’s Southern Project area, where the company’s joint-venture partner TCMG earns interest through a $5 million agreement contract to fund the exploration. ERM, for its part, will receive a free-carried 6 per cent gold production royalty from projects within the joint venture.

Chase Mining granted three exploration licences in NT

Chase Mining (CML) has been approved for three exploration licences to form the Barkly North project in the Territory. The licences cover the eastern half of the 160-kilometre-long rare earths trend discovered by the Geoscience Australia North Australian geochemical survey.

CML, over the next three months, plans to undertake surface sampling across the project area to identify the sources of the reported rare earths. This will be followed by a series of shallow drilling traverses to take place in the drier months of next year.

The company said this trend is caused by a previously unrecognised ionic clay-hosted rare earths deposit. It said these kinds of deposits are cheaper to mine and process, with less toxic waste material issues than hard rock rare earth deposits.

Core Lithium crosses 2.27 pc lithium oxide at BP33

Core Lithium (CXO) crosses up to 2.27 per cent lithium oxide at the BP33 deposit within the Finniss lithium project in the Territory. CXO said diamond drilling began in May with three holes intersecting the main mineralisation at depths up to 470 metres and with five intersecting variable thickness of mineralised pegmatite.

Classification of the holes established the spodumene-bearing pegmatite extends at depth to the south with an indication that the thickness and grade may improve at depth. Outcomes include 66.88 metres at 1.78 per cent lithium oxide including 16 metres at 2.27 per cent lithium oxide, and 27 metres at 1.5 per cent lithium oxide including four metres at 2.02 per cent lithium oxide.

An additional trial ambient noise tomography survey was undertaken to test the effectiveness of testing pegmatites at depth with the work identifying multiple unknown targets.

“These new world-class lithium drilling results reflect the confidence Core has in delivering significant resource growth from Finniss that will add to our life of mine and our capacity to materially increase lithium production from northern Australia in the future to keep up with rapidly growing global demand,” CXO chairman Greg English said.

Empire presents company objectives at SEAAOC Conference

Empire Energy Group (EEG) has outlined the steps to be undertaken by the company to realize its objective to reach production and commercial cash flow in a presentation during the recent SEAAOC conference in Darwin.

Following the Company’s successful Placement and Share Purchase Plan (“SPP”) to raise $30 million (gross) for EEG, the balance sheet now comprises a total cash balance of $38.7 million, recently improved by receipt of grant funding. The company aims to utilize these funds for the appraisal of its Beetaloo Basin holdings and working capital. The company’s directors agreed to invest $520,000 subject to shareholder approval.

The company is financially well positioned to execute the largest work program in its history, it said. The Board awaits appraisal results from the 2022 work program including Carpentaria-2H, the company’s first horizontal hydraulically stimulated well.

Global gas markets remain tight and prices are at decade highs ahead of the northern hemisphere winter, a time of year when gas demand rises. EEG holds over 14.5 million acres of highly prospective exploration tenements in the McArthur and Beetaloo Basins in the Territory.