What is the story about?
What's Happening?
Emmerson Resources and Tennant Mining have declared the White Devil gold deposit in the Northern Territory as a 'major mine'. The project, with a resource of 611,400 oz, will be developed under a joint venture, with Tennant Mining holding 60% and Emmerson 40%. An updated mineral resource estimate and feasibility study are expected by the end of 2025. The JV framework allows for resources above 250,000 oz to be classified as major mines, while smaller deposits are managed through royalty-based arrangements. The Golden Forty deposit has been classified as a 'small mine', with Tennant Mining controlling its development.
Why It's Important?
The declaration of White Devil as a major mine marks a significant milestone for Emmerson and Tennant Mining, potentially boosting gold production in the Northern Territory. This development reflects the prospectivity of the region and the effectiveness of the JV partnership. The project could enhance local economic growth and provide a low-risk return for Emmerson through royalties. The classification of Golden Forty as a small mine also highlights the strategic approach to resource management, ensuring efficient development and operation of mining assets.
What's Next?
The partners will proceed with the feasibility study and resource updates for White Devil, aiming for development within the next few years. The Golden Forty deposit is expected to begin operations soon, feeding into the Nobles processing plant. These projects may attract further investment and interest in the region's mining sector, potentially leading to more exploration and development activities.
AI Generated Content
Do you find this article useful?
