Exploration is fundamental to Emerald’s long-term success. This includes near mine as well as actively pursuing opportunities to materially increase our resources in the areas in which we operate.

Our exploration strategy focuses on both regional exploration targets, as we look to create a modern gold processing hub and broader landholding around the highly prospective Okvau Gold Project in Cambodia.

Our Western Australian interests are principally focused on the under explored, highly prospective North Laverton greenstone belt (Bullseye).

CAMBODIA Exploration

Emerald’s Cambodian exploration tenements, which comprise of a combination of 100% owned granted licences and joint venture agreements cover a combined area of 1,239 km².


Emerald’s flagship Okvau Gold Project reflects our commitment to developing a modern Cambodian gold mining industry.

Okvau has been in production since June 2021 Okvau and production guidance remains in line with the DFS of 100-110,000oz on an annualised basis.

To ensure the Project’s long-term sustainability in addition to in-mine exploration, Emerald is undertaking a comprehensive exploration program across tenements located near the Okvau project footprint with the potential to provide ongoing mineralised ore for the Okvau processing plant.

Memot Gold Project

The Maiden Memot Gold Project Open Pit Inferred Resource of 8Mt @ 1.84g/t Au for 470koz was announced in December 2023. The calculation was based on 19,217 metres of diamond and RC drilling and has given Emerald the confidence to ramp up drilling activities and invest in a further 50,000 metre Stage 2 drill program, planned to commence in early 2024. The Stage 2 program is designed to extend the known mineralisation and to increase confidence in the existing resource.


Emerald is earning up to 80% in two exploration licences located between the Company’s Ochhung and Okvau tenements, 10km to the north-east of the Okvau Gold Project.

Historical drilling results within the Antrong Licences, which have had limited follow up, demonstrate potential for significant new gold discoveries and include:

  • 7m @ 5.06g/t gold from 30.5m (OTSDD002);
  • 3m @ 6.91g/t gold from 25.2m (OTSDD001);
  • 2m @ 4.16g/t gold from 42m (OTMDD002); and
  • 1m @ 6.23g/t Au from 20m (ANTDD001).

The Antrong Licences cover multiple diorite intrusions with high grade rock chip samples. Surface geochemical sampling has been undertaken at both Licences with all assay results pending.

Snuol Project (earning up to 70%)

The Snuol Project is in the southern Kratie Province approximately 90km south-west of the Okvau Gold Project.

An ongoing drilling program at the Anchor Prospect has tested parts of a 1.5km x 1.5km gold-in soil anomaly investigating the gradient array IP chargeability anomalies and follow up previous significant drill results. Significant results include:

  • 4m @ 7.72g/t Au from 72m including 1m @ 16.75g/t Au, 180g/t Ag, 0.5% Cu, 0.24% Pb and 2.29% Zn from
  • 73m (RC23SNU054);
  • 13m @ 1.36g/t Au from 18m (RC23SNU048);
  • 1m @ 7.97g/t Au from 46m (RC23SNU047);
  • 9m @ 0.88g/t Au from 16m (RC23SNU056) including 1m @ 3.56g/t from 16m and 0.77% Zn;
  • 1m @ 0.36g/t Au, 22.2g/t Ag, 0.6% Cu from 43m (RC23SNU037); and
  • 1m @ 0.18g/t Au, 7.70g/t Ag, 0.55% Cu from 20m (RC23SNU044).

Additionally, significant intersections of precious and base metal results in RC23SNU054 and RC23SNU056 are located along a 500m structural corridor.

Additional drilling is planned to follow up these encouraging results on the Anchor prospect and other untested anomalous gold-in-soil results on the Snuol Licence.

Other Cambodian Exploration

Emerald continues to look to expand on its prospective tenure in Cambodia by seeking to make further applications for tenure when identified and advancing discussions with third parties.

The Company continues to assess the exploration data from the geochemical survey, geophysical surveys and drill programs on the Ochhung, Preak Klong and Oktung licences.

Specifically, a ~4,200m RC resource infill program has been scheduled on the Preak Klong NW and Gossan prospects which are located within 15km of the Okvau Gold Mine – on the Preak Klong Licence. The program is designed to infill the previously announced intersections listed below and is expected to commence in early 2024.

Infill geochemical sampling programs are being planned for the Ochhung and Oktung Licences to commence in 2024.

Emerald remains vigilant for opportunities to expand our regional footprint in Cambodia.

Australia Exploration

Emerald’s Australian exploration program is focused on Bullseye Mining’s tenements.

North Laverton Gold Project

Bullseye’s 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.

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

As at 31 December 2023, 339 collars (43,327m) of the 98,000m resource definition program has been completed of which 137 collars (27,855m) has been since Emerald acquired a controlling interest in Bullseye. Assays for more than 2,000m of drilling are pending.

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:

  • 24m @ 3.04g/t Au from 64m (RC23BDY069);
  • 20m @ 3.68g/t Au from 244m (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); and
  • 17m @ 2.13g/t Au from 35m (RCDD23HUR001).

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 generate an updated resource and reserve expected early in 2024 with the goal of commencing development activities late in 2024.

North Laverton – Tenement Map with the prospect locations