Operations

Exploration

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 to date under explored, highly prospective Dingo Range greenstone belt, Dingo Range Gold Project, with new discoveries made at the Freeman’s Find, Banjawarn and Great Northern Prospects. 

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.

OKVAU GOLD PROJECT EXPLORATION PROGRAM

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

In December 2024 Emerald updated the Gold Resource at the Memot Gold Project following the completion of the 50,000m Stage 2 drill program. The Project now has an Indicated and Inferred Mineral Resource Estimate of 19.5Mt @ 1.65g/t Au for 1.03Moz, and represents an increase of 120% from the previous estimate announced in December 2023.

ANTRONG PROJECT (EARNING UP TO 80%)

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.

Infill geochemical sampling programs are being planned for the Ochhung and Oktung Licences.

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

Australia Exploration

Emerald’s Australian exploration program is focused on the Dingo Range Gold Project’s tenements, in the Dingo Range greenstone belt.

Dingo Range Gold Project

 To date, the Company has completed 1,287 collars (154,595m) on both the resource definition drilling and drill targeting of regional geochemical, geophysical and existing drill targets and successfully identified three new gold prospects, Freeman’s Find, Great Northern and Banjawarn.Our Dingo Range 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. Additional recent discoveries at Freeman’s Find, Banjawarn and Great Northern Prospects increases confidence in the long-term prospectivity of the Project.

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

  • 19.0m @ 2.59g/t Au from 75.0m (RC24NPT132);
  • 2.0m @ 15.09g/t Au from 15.0m (RC24FMF030);
  • 5.7m @ 4.50g/t Au from 99.0m (RCDD22NPT030);
  • 6.0m @ 3.90g/t Au from 96.0m (RC24FMF024);
  • 22.0m @ 1.03g/t Au from 105.0m (RC24NPT126);
  • 1.0m @ 21.00g/t Au from 8.0m (RC24HUR077); and
  • 6.0m @ 2.74g/t Au from 112.0m (RC24HUR083).

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 ~110m vertical depth (average). Mineralisation remains open at depth and along strike across all prospects.

Exploration at the Dingo Range Gold Project has clearly demonstrated the potential of this largely underexplored area. In December 2024 the Company released the Project’s maiden gold resource of 28.0Mt @ 1.13g/t Au for 1.01Moz paving the way for the Project to be Emerald’s first stand-alone mining and processing operation in Australia. Emerald is undertaking further drilling in advance of an investment decision and commencement of development in 2025. 

Dingo Range Gold Project – Tenement Map with the prospect locations