EMX Royalty drills 4.01 g/t gold over 17.8 metres at Yarrol, Australia
EMX Royalty Corp. [EMX-TSXV, NYSE American; 6E9-FSE] provided an update on the advancement of its 100%-owned Yarrol project in Queensland, Australia.
The Yarrol Project contains zones of gold and copper mineralization in addition to areas with cobalt-enriched manganese oxide mineralization and heavy mineral sands deposits. A recently executed reconnaissance drill program targeted all three styles of mineralization. Analytical results from a drill hole in the core of the historically defined zone of gold mineralization are highlighted by an intercept of 17.8 metres averaging 4.01 g/t gold from 61 metres in drill hole DD22-YA1871.
A second hole (DD22-YA188) intersected multiple intervals of gold mineralization including 12 metres at 0.91 g/t gold from 92 metres. These holes were intended to confirm the nature of the gold mineralization that have been historically mined and explored at Yarrol. It is notable that the selected sample intervals from both drill holes began and ended in gold mineralization, and additional intervals will be sampled and analyzed from both holes.
Drill holes DD22-YA187 and DD22-YA188 were drilled as part of a 15-hole program, with two deeper core holes in the zones of gold mineralization and 13 shallow diamond and air core holes targeting the manganese-cobalt mineralization and mineral sands. EMX expects to receive additional analytical results for the manganese-cobalt mineralization and mineral sands deposits in the coming weeks. Results from those drill holes will be discussed in a separate disclosure.
The Yarrol Project is currently available for partnership, in accordance with the royalty generation aspect of EMX’s business model.
The 55,900-hectare Yarrol Project is located between EMX’s Queensland Gold project and Evolution Mining’s Mt Rawdon gold mine, and is positioned along the regional scale Yarrol Fault zone. Several other historical mines and active exploration projects also lie along the Yarrol Fault structural trend.
Yarrol was the site of historical gold mining activities in the 1800s through the 1930s, with historical gold production averaging ~10 g/t gold. Further exploration and assessments conducted in the 1980s and 1990s led to the definition of two historical gold resources. Gold mineralization at Yarrol is present as quartz sulfide veins and zones of silicification developed in and around Permian-aged dioritic intrusions as confirmed in holes DD22-YA187 and DD22-YA188.
In late 2021, while conducting exploration programs to expand the known zones of gold mineralization, EMX geologists encountered zones of cobalt-enriched manganese oxide mineralization on the northern side of the Project area. This led to an expansion of the land position, as well as new exploration programs targeting the manganese and cobalt mineralization. Surface sampling programs demonstrated that the zones of manganese oxide mineralization encountered in the field consistently averaged over 1% cobalt, accompanied by enrichments in both nickel and copper.