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EMERALD RESOURCES NL — Regulatory Filings 2016
May 16, 2016
64849_rns_2016-05-16_92a69361-5657-4cda-8fe3-934419fd43b6.pdf
Regulatory Filings
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ASX Announcement
17 May 2016
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EMERALD TO COMMENCE WORKS AT OKVAU GOLD DEPOSIT
The Board of Emerald Resources NL ( EMR or Company ) is pleased to advise that it will commence trading on the Australian Securities Exchange (ASX) today at 10.00AM AEDT after satisfaction of the remaining conditions precedent of the Farm-in and Joint Venture Agreement with Renaissance Minerals Limited (ASX:RNS) and re-compliance with Chapters 1 and 2 of the ASX Listing Rules.
As previously announced, Emerald may earn up to a 51% interest in Renaissance’s Cambodian Gold Project by sole funding a Definitive Feasibility Study for the development of Okvau Gold Deposit to a bankable level, an Environmental & Social Impact Assessment and a 2 year exploration program of US$3 million as announced on 3 February 2016.
Emerald and Renaissance are now moving forward with a significant exploration program which will initially focus on testing previously identified target areas that offer considerable upside scope for additions to the currently defined 1.13Moz resource estimate at the Okvau Deposit.
In addition the Joint Venture expects to commence a diamond drilling program of approximately 600m with a rig that has been mobilised to site to enable additional metallurgical testwork to further refine the previous proposed processing path. A second rig is expected on site within 2 to 4 weeks to complete 7,000m of infill drilling designed to increase the confidence of the resource model (in particular to 120m depth) for use in the estimation of a maiden reserve for the Okvau Deposit.
An RC drilling campaign is also proposed to test the peak geochemical soil anomalies identified within close proximity to the Okvau Deposit.
Managing Director Morgan Hart stated “We are excited to be working with Renaissance to commence the scope of works required for the completion of a DFS and testing the near mine prospectivity of Okvau. This work has been expedited to account for the impending wet season and we look forward to utilising the results to update the prefeasibility study in the short to medium term.”
He added “Emerald remains well funded with approximately $18m in cash and liquid investments (including a 10% shareholding in RNS) and is therefore very well placed to progress the Project.”
For further information, please contact;
MORGAN HART Managing Director
Emerald Resources NL ACN 009 795 046 1110 Hay Street, WEST PERTH, WA, AUSTRALIA, 6005 PO Box 1408 West Perth WA 6872 T: 1300 729 543 F: 1300 729 528 E:[email protected]
EMERALD TO COMMENCE WORKS AT OKVAU GOLD DEPOSIT
17 May 2016
Okvau Mineral Resource Estimate - July 2015
July 2015 JORC Resource (0.6g/t gold cut-off)
| Tonnage | Grade | Gold | |
|---|---|---|---|
| (Mt) | (g/t Au) | (Koz) | |
| Indicated | 13.2 | 2.3 | 962 |
| Inferred | 2.7 | 2.0 | 169 |
| Total | 15.8Mt | 2.2g/t | 1,131 |
Competent Persons Statement
The information in this report that relates to the Mineral Resources for the Okvau Gold Deposit was prepared by International Resource Solutions Pty Ltd (Brian Wolfe), who is a consultant to Renaissance Minerals Limited, who is a Member of the Australian Institute of Geoscientists (AIG), and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Wolfe consents to the inclusion of the matters based on his information in the form and context in which it appears.
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Emerald Resources NL ACN 009 795 046
EMERALD TO COMMENCE WORKS AT OKVAU GOLD DEPOSIT
17 May 2016
Forward-Looking Statements
This announcement has been prepared by the Company. This document contains background information about the Company and its related entities current at the date of this announcement. This is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this announcement. This announcement is for information purposes only. Neither this document nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.
This announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. This document does not constitute investment advice and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this representation are not intended to represent recommendations of particular investments to particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.
No responsibility for any errors or omissions from this document arising out of negligence or otherwise is accepted. This document does include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of the Company. Actual values, results, outcomes or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements.
Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and ASX Listing Rules, the Company does not undertake any obligation to update or revise any information or any of the forward-looking statements in this document or any changes in events, conditions or circumstances on which any such forward-looking statement is based.
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Emerald Resources NL ACN 009 795 046