Morning Trading December 22, page-185

ERM
Potentially a sleeping giant in 2024.
Drill results pending for Golden Fourty.

The program of seven holes is underway and will test for extensions to the wide and very high-grade gold mineralisation announced
in late 2022 and early 2023. It is expected that we will finish the drilling in mid-November prior to the onset of the west season,
with results expected in mid-December or early January 2024.


In late 2022, Emmerson completed an RC and diamond drill programme, which resulted in the discovery of several new high-grade
lodes and extensions to the known mineralisation (see ASX Announcements dated 17 November and 12 December 2022 and 21
March 2023). The 2022 drilling intersected very significant and high-grade zones including:
o 28m at 28.3 g/t gold from 141m (GFRC063) including:
▪ 9m at 84.6 g/t gold from 145m
o 15m at 8.4g/t gold from 103m (GFDD059)
o 6m at 41.2 g/t gold from 120m (GFRC060)
o 13m at 4.1 g/t gold from 87m (within 35m @ 1.8g/t Au from 69m in GFRC058)
o 6m at 5.4g/t gold from 155m (GFRC066)
o 3m at 8.0 g/t gold from 132m (GFRC061)
o 4m @ 6.8 g/t gold from 140m (within 21m @ 1.9 g/t Au in GFRC065)
The follow-up drilling is now underway as a number of these very high-grade gold intersections remain open at depth. A total of 7
holes are planned to test for extensions to the mineralisation. It is expected that this drilling, along with previous exploration will
allow estimation of a JORC 2012 compliant Mineral Resource, which in turn will underpin a Scoping Study on the project.