White Devil Resource Adds 490,000oz Gold, Elevating Tennant Creek by 130%

Key Highlights

• White Devil Resource: 3.63Mt @ 4.2 g/t gold for 489,900oz, including 434,700oz classified as Indicated.
• Tennant Creek Base: Increased by 130% to 866,000oz at 4.6 g/t gold.
• Near-term Development: Studies underway for processing at Nobles CIL facility, set for commissioning in Q2 2025.
• Exploration Upside: Resource remains open down dip and along strike, with new drilling results expected Q1 2025.

Emmerson Resources Ltd (ASX: ERM) has announced a significant milestone with the maiden Mineral Resource Estimate (MRE) for its White Devil deposit in Tennant Creek, Northern Territory. The addition of 489,900oz of gold elevates the company’s total Tennant Creek resource base to 866,000oz, marking a 130% increase.

A High-Grade Opportunity

The White Devil deposit demonstrates robust resource metrics with 3.63Mt @ 4.2 g/t gold, of which nearly 90% is classified as Indicated, enabling development studies and Ore Reserve conversion.

Mike Dunbar, Managing Director of Emmerson Resources (ASX: ERM), highlighted the significance, “This maiden resource solidifies our strategy of rapidly expanding high-grade gold resources. With its classification as a potential major mine, White Devil presents transformative opportunities for Emmerson’s economic interests.”

Advancing Towards Development

White Devil’s proximity to the Nobles CIL gold processing facility, located just 48km away and scheduled for commissioning in Q2 2025, provides a direct pathway to production. Commercial output is anticipated by Q3 2025.

Initial studies are underway to define the optimal development strategy. Notably, the resource model excludes the recently drilled shallow eastern extension, presenting immediate upside potential. An updated resource incorporating these results is expected by late Q1 2025.

Exploration Momentum

Over the past 12 months, Emmerson Resources (ASX: ERM) has expanded its Tennant Creek resource base by 415%, adding approximately 700,000oz at a cost of less than $3.50 per ounce. This underscores the efficiency and success of its exploration efforts.

The company’s ongoing drilling at White Devil has revealed mineralization that remains open down dip and along strike, offering significant growth potential beyond the current resource estimate.

Economic Upside and Joint Venture Dynamics

White Devil’s scale positions it as a candidate for classification as a Major Mine Deposit under the company’s Joint Venture agreement with Pan African Resources (PAR). Should this occur, Emmerson Resources (ASX: ERM) would retain up to 40% contributing ownership, significantly enhancing its economic interest compared to smaller deposits that yield a 6% royalty.

The potential for classification as a Major Mine marks the most significant development for Emmerson Resources (ASX: ERM) in recent years, aligning with its strategy to maximize resource value.

Market Response and Stock Performance

On January 29, Emmerson Resources' (ASX: ERM) stock rose 8.43% to AUD 0.09, driven by strong trading volume of 3.98 million shares, well above the four-week average of 586,189 shares. The stock has delivered an impressive 87.50% return over the past year, reflecting investor confidence in its exploration and development strategy.

Looking Ahead: Transforming Tennant Creek

With the updated White Devil MRE and continued drilling success, Emmerson Resources (ASX: ERM) is well-positioned to unlock the full potential of Tennant Creek. The company’s focus on high-grade gold resources, efficient exploration, and near-term development aligns with its goal to become a leading Australian gold producer.

The White Devil resource marks a significant leap forward for Emmerson Resources (ASX: ERM). As the company advances development studies and integrates exploration upside, investors can expect sustained growth and value creation in one of Australia’s most sought-after gold districts.