Drones Aid Remarkable Gold Discoveries in the Northern Territory
The Northern Territory (NT) has seen an eruption in excitement over prospects of a new gold rush after exploration teams believe they have unearthed an extraordinary high-grade deposit of the precious metal.
Emmerson Resources (ERM), a mineral exploration organisation, stumbled upon the remarkably rare find in the heart of the territory at Mauritania, Tennant Creek following surveying done by drones equipped with magnetic-field-detecting instruments.
“There is absolutely buzz around the town,” NT Mining and Industry Minister Nicole Manison told reporters on Wednesday. “There are companies making great discoveries. We have the real potential to bring Tennant Creek back to its glory days of being a thriving mining town.”
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Emmerson Resources up 15% after uncovering 3.95 metres at 57 g/t gold at Mauretania project, Tennant Creek
The bonanza gold hit is considered “highly encouraging” and is one of three holes that intersected the primary gold zone at Tennant Creek’s Mauretania project. Diamond drill rig commencing the first hole above the bonanza gold zone at Mauretania.
Emmerson Resources Ltd (ASX:ERM) has returned a bonanza-grade gold intersection from the first diamond hole in a sparsely drilled primary gold zone at Mauretania Project in the Northern Project Area of Tennant Creek Mineral Field in the Northern Territory.
The precious metals explorer discovered a 3.95-metre intersection, grading 57 g/t gold, 0.22% bismuth, 20.6 g/t silver and 0.23% copper from 207 metres in hole MTDD010 at the greenfields discovery.
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FTSE 100 ends higher but doesn t crack 7,100; US markets mixed after Nasdaq reverses course lower
Helped by the weakness of sterling, the FTSE 100 posted decent gains Manufacturers are going full-pelt but rising input prices are a concern
FTSE 100 rises 58 points
US indices mixed as Nasdaq slides
Asia-focused banks suffer
5.15pm: FTSE can t quite reach 7,100
London s leading index closed Tuesday up 58 points, 0.8%, at 7,080, while the FTSE 250 gained 191 points, 0.8%, to end at 22,875. US and UK investors have returned from their holiday in bullish form, picking up where they left off on Friday, IG Chief Market Analyst Chris Beauchamp wrote. Growth sectors such as health care and tech stocks continue to struggle compared to the cyclical areas such as mining and banking, while in the UK commodity prices have driven the gains for the FTSE 100, thanks to the strong showing in the US and Chinese manufacturing PMIs.
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