Emerald Resources Unveils Significant Growth at Memot Gold Project

Pic Courtesy: Emerald Resources.

Key Highlights:

• Resource Increase: 120% growth in gold resource to 1.03 million ounces (Moz).
• Indicated Resources: 68% of the updated estimate classified as "Indicated."
• Development Timeline: Feasibility studies progressing for a 2025 development start.
• Exceptional Grades: Drill results include standout intercepts such as 6m @ 348.76g/t Au.
• Potential Expansion: Memot remains open in all directions with significant exploration upside.

Emerald Resources Achieves Landmark Progress with Memot Gold Project

Emerald Resources NL (ASX: EMR) has announced a major milestone with a 120% increase in the resource estimate for its 100%-owned Memot Gold Project in Cambodia. The updated Indicated and Inferred Mineral Resource stands at 19.5 million tonnes (Mt) at 1.65 grams per tonne (g/t) gold (Au), containing 1.03 million ounces (Moz) of gold. This advancement further solidifies Emerald’s reputation as a burgeoning leader in the gold exploration and mining sector.

Resource and Exploration Success

The dramatic growth in Memot’s resource highlights Emerald’s exceptional execution of its Stage 2 drill program. Spanning over 50,000 meters, this comprehensive drilling effort has uncovered remarkable intercepts, including:

• 6m @ 348.76g/t Au from 125m, including a staggering 1m @ 2,090g/t Au.
• 9m @ 12.61g/t Au from 193m, including 1m @ 64.50g/t Au.

These results showcase the deposit's high-grade potential and underpin the company's belief that Memot will be its second standalone operation in Cambodia, following the success of the Okvau Gold Mine.

Strategic Vision: A Multi-Mine Producer

Emerald’s Managing Director, Morgan Hart, emphasized the strategic importance of Memot, stating:
“The doubling of the resource underscores Memot’s potential as a cornerstone project alongside our Okvau Gold Mine. Our continued exploration success positions Emerald as a +300koz per annum, multi-mine producer with operations across two continents.”

The company’s focus remains on completing feasibility studies, permitting, and securing licenses, with development expected to commence in 2025.

Sustainability and Operational Efficiency

Emerald is committed to environmental stewardship, aligning with international ESG standards and local regulations. Its operational model for Memot anticipates:

• 85% metallurgical recoveries through a conventional Carbon-In-Leach (CIL) process, ensuring optimal resource utilization.
• Flexibility for selective mining of high-grade ore or bulk mining for higher tonnage.

This adaptability enhances the project's economic feasibility while maintaining a focus on sustainability.

What Lies Ahead?

The Memot Gold Project’s mineralization remains open in all directions and at depth, providing ample opportunity for further expansion. Emerald plans additional drilling in 2025 to refine the resource model and identify new targets within its 1,428km² Cambodian exploration tenure.

As Memot progresses toward becoming a flagship operation, Emerald’s portfolio diversification, including the Dingo Range Gold Project in Australia, reinforces its ambition to establish itself as a top-tier gold producer.

At the time of writing this article, Emerald Resources NL (EMR) shares were trading at A$ 3.71