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May 24, 2018

Emmerson signs deal to develop Black Snake gold mine

American gold resource company Emmerson Resources has signed a mine management plan with the Northern Territory Government to begin development of the Black Snake Hill gold mine, as the company expands its operations in the Tennant Creek Mineral Field (TCMF).

By JP Casey

American gold resource company Emmerson Resources has signed a mine management plan with the Northern Territory Government to begin development of the Black Snake Hill gold mine, as the company expands its operations in the Tennant Creek Mineral Field (TCMF).

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The abandoned mine, located 20km east of the town of Tennant Creek, is the latest target in Emmerson’s attempts to move further into the TCMF. The company has only expanded into 5.5% of the field’s 2,200km2 area, and will construct three 25m vertical shafts and a connecting horizontal shaft on Black Snake Hill to help measure the volume and geology of minerals in the area.

“What Emmerson discovers could lead to the development of a more extensive mining operation, which would result in even more jobs for the region,” said Minister for Primary Industry and Resources Ken Vowles.

Emmerson’s development plans are aimed at taking advantage of the region’s historic mine grades of 15g-20g per tonne of gold, and 2%-4% of copper. The company is simultaneously extending mine and brownfield operations in gold and copper resources, which have yielded 900,000 equivalent ounces of gold, and discovering new deposits using the company’s airborne time-domain electromagnetic system, dubbed HeliTEM.

HeliTEM can screen large areas quickly and observe up to 500m beneath the surface of the earth. The company reports that only 8% of drilling in the TCMF has penetrated below 150m and just 6% of its lands have been explored using HeliTEM, so Emmerson is eager to expand the use of its service.

“A small area centred on the White Devil mine has been flown with the HeliTEM technology and processing of these data has identified several coincident structural and HeliTEM anomalies requiring ground mapping and geophysical modelling,” said Emmerson.

“Another area west of the Ivanhoe mine has been geologically mapped with samples collected returning encouraging gold-copper and bismuth assays. Further exploration is scheduled for this prospect.”

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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