Overview of EMU's recent exploration work

Emu NL (ASX: $EMU) has announced the confirmation of a significant and pervasive copper mineralisation discovery at the Fiery Creek Copper Prospect within the Georgetown Project in North Queensland. The portable XRF (pXRF) geochemistry programme has revealed an extensive broad copper mineralised zone, covering an area approximately 720m long X 480m wide. The highest copper grade recorded was 32.5% from 27 rock chip samples, and significant copper grades up to 2,484ppm were recorded from pXRF soil samples.

Executive commentary on the recent exploration results

The initial pXRF results from the field are highly encouraging with broad disseminated copper mineralisation reported from the discovery zone potentially providing EMU with an immediate drill target. Whilst geophysics planned over the next few months will tighten drilling vectors, we are optimistic the results support our interpretation that Fiery Creek could host a large bulk multi-million tonne copper-silver porphyry system. The advantage of pXRF is that it gives immediate feedback in the field which can substantially reduce on-ground cost and time. The confirmation of significant copper mineralisation in the discovery zone by pXRF is only bettered by the fact that pXRF results from termite mounds in the adjacent zones suggest an even broader envelope of copper mineralisation than first thought.

Summary of the exploration update and future plans

Emu NL's recent exploration work has confirmed a significant copper mineralisation discovery at the Fiery Creek Copper Prospect. The results indicate the mineralisation is significant and pervasive, and additional sampling has defined a mineralised, copper anomalous, shear zone extending at least 2.5 km to the SE. The company is optimistic about the potential for a large bulk multi-million tonne copper-silver porphyry system. Following the completion of geochemical and geophysical surveys, a maiden drilling program is envisaged to be undertaken towards the end of this year, perhaps as early as October. Emu NL is focused on further exploration and detailed geologic mapping to identify specific targets for appropriate IP and MT geophysical surveys.