Significant Copper and Gold Mineralization Located on Georgetown Project, Australia - Seite 2

Table 1. EMU’s Significant Assay Results – December Program

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Fiery Creek Copper Prospect

The area of the high-grade quartz+copper oxide vein swarm at Fiery Creek is strongly localised within the Yataga Granitoid Complex and covers an area of 1.6km x 400 metres (Figure 4). The copper mineralization is now almost exclusively supergene altered to the copper oxide assemblage chrysocolla, malachite, tenorite, cuprite, and sooty chalcocite (Figures 5 and 6). Most samples from Fiery Creek host grades ≥ 1% with a high of 23.5% Cu including bismuth grades between 0.2% and 1.89% Bi. Additionally, the samples host significant lead, zinc and silver grades with strongly associated anomalous arsenic, antimony and tellurium.

Figure 4. Fiery Creek Copper/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses).

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Petrology studies on outcrop indicate that the host quartz+copper oxide veins are unlikely to be associated with a simple mesothermal quartz+base metal vein system. The veins appear to be unusually vuggy and lined with a second phase of silica deposition. These phases appear to have been subsequently overprinted by a late and lower temperature sulphide only stage dominated by copper sulphides with an unusually high content of bismuth sulfosalts.

Figure 5. Sample ESS02116 – 774610E 8007802N (63 ppm Ag, 815 ppm Bi, 6.26% Cu, 2090 ppm Pb). Disseminated and stockwork veinlet oxide copper mineralization postdating host cataclastically brecciated granodiorite.

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Figure 6. Sample ESS02494 – 773511E 8007365N (460 ppm Ag, 1.25% Ba, 23.51% Cu, 14ppm In). White frosty quartz vein invaded by a later massive sulfide event as a mix of black tenorite (CuO) and sooty to dark grey chalcocite (Cu2S) replaced at its margins by crystalline fibrous malachite and minor chrysocolla.

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Camp Oven Creek Prospect

An access restricted field investigation to Camp Oven, with historic surface sample assays greater than 200 g/t Au recorded (refer to ASX release EMU Records Gold Assays to 36.1 g/t at Georgetown QLD), Rain storms limited reconnaissance over the Camp Oven prospect produced a gold pan-concentrate from a shallow drain-way of up to 40 visible gold points in a single pan in addition to a 6 gram crystalline gold nugget discovered nearby (Figures 1 and 2) . The crystallinity of the nugget suggests that the gold source is proximal.