Operations

North Laverton Gold Project

The North Laverton Gold Project consists of 36 exploration licences (including five applications) and four mining licences covering the majority of the Dingo Range greenstone belt with more than 800km² of tenure and has the potential to host multiple standalone deposits or satellite deposits to supply additional ore to a central mill. This includes the gold mineralised prospects of Boundary, Neptune, Stirling, Hurleys and Bungarra extending over 6.4km of prospective greenstone belt. Additional recent discoveries at Freeman’s Find and Banjawarn Prospects increases confidence in the long-term prospectivity of the Project.

Current and historical drilling results continue to demonstrate the continuity of mineralisation at depth and along strike.

To date 631 collars (83,304m) of the 98,000m resource definition program has been completed, of which 328 collars (67,739m) have been drilled since Emerald acquired a controlling interest in Bullseye. Initial drilling has focussed on the Boundary and Neptune prospects of the Boundary-Bungarra mineralised trend.

Recently returned results are from the current RC and diamond drilling program targeting the  Boundary and Neptune Prospects include:

• 15m @ 5.91g/t Au from 291m (RCDD23BDY022);
• 9m @ 7.35g/t Au from 59m including 1m @ 58.27g/t Au from 61m and 1m @ 16.02g/t Au from 73m (RC22NPT027);
• 38m @ 1.65g/t Au from 56m including 1m @ 16.60g/t Au from 92m (RC22BDY009);
• 12m @ 4.94g/t Au from 62m including 1m @ 9.07g/t Au from 69m and 1m @ 42.90g/t Au from 72m (RC22NPT003);
• 43m @ 1.17g/t Au from 253m (RC23BDY065);
• 08m @ 6.91g/t Au from 329m (RCDD22BDY001);
• 88m @ 5.06g/t Au from 313.12m (RCDD23BDY059);
• 15m @ 2.48g/t Au from 108m including 1m @ 7.39g/t Au from 116m and 2m @ 7.79g/t Au from 118m (RC22NPT004);
• 13m @ 2.54g/t Au from 76m including 1m @ 19.30g/t Au from 81m (RC22BDY001);
• 14m @ 2.37g/t Au from 115m including 4m @ 4.63g/t Au from 117m (RC22NPT020);
• 5m @ 6.33g/t Au from 100m including 2m @ 14.70g/t Au from 100m (RC22BDY016);
• 14m @ 1.98g/t Au from 49m (RC23BDY029);
• 4m @ 7.12g/t Au from 22m including 1m @ 25.97g/t Au from 25m (RC23BDY047);
• 15m @ 1.13g/t Au from 76m (RC23BDY051);
• 5m @ 3.23g/t Au from 54m including 1m @ 14.34g/t Au from 58m (RC23BDY031);
• 3m @ 5.13g/t Au from 352m including 1m @ 13.30g/t Au from 354m (RCDD23BDY041);
• 24m @ 3.04g/t Au from 64m (RC23BDY069);
• 20m @ 3.68g/t Au from 244m including 2m @ 23.27g/t Au from 252m (RC23BDY081);
• 19m @ 2.45g/t Au from 72m (RC23STI012);
• 8m @ 3.44g/t Au from 202m (RC23BGA013);
• 10m @ 3.94g/t Au from 142m (RC23NPT054);
• 17m @ 2.13g/t Au from 35m (RCDD23HUR001);
• 26m @ 111.79g/t Au from 214.74m including 0.86m @ 422.00g/t Au from 214.74m (DDRE-BDRC017);
• 6m @ 5.27g/t Au from 202m including 0.4m @ 179g/t Au from 218.2m (RCDD23BDY102); and
• 3m @ 19.09g/t Au from 121m (RC23BDY121).

This wide, high-grade zone of mineralisation has a northly plunge and confirms the continuity of the mineralisation at depth. The area north of these intercepts is untested, further drilling has been planned to further explore along strike. Results from drilling to date, continue to delineate mineralised high-grade structures. Historically, drilling has only tested to ~120m vertical depth (average). Mineralisation remains open at depth and along strike across all prospects.

These results have given Emerald the confidence to accelerate the exploration program by increasing drilling capacity to deliver a DFS in the December 2024 quarter in advance of an investment decision and commencement of development in late 2024.

North Laverton – Tenement Map with the prospect locations