Emmerson Resources' (ASX:ERM) Tennant Creek joint venture has approved a major increase in exploration activities, with a $6.9 million work program scheduled for the first quarter of 2026.
The program, the largest in the Tennant Creek Mineral Field in over 20 years, includes 8,600m of diamond drilling, 13,900m of reverse circulation drilling, and a 180km2 helicopter magneto-telluric survey across five priority target areas.
Diamond drilling will target depth extensions of the high-grade White Devil deposit and geophysical targets to its southwest, while additional deep drilling will focus on two geophysical targets between the Golden Forty and Nobles deposits.
RC drilling is planned at the TC8 mine extensions, the Comstock prospect southeast of the Nobles Mine corridor, and shallow White Devil targets.
Emmerson Resources Managing Director Mike Dunbar said, "This is the most substantial quarterly exploration program and budget in the Tennant Creek Mineral Field for over two decades. The approved budget represents a monthly exploration spend of $2.3 million, compared with just $85,000 per month during the exploration earn-in phase."
The JV is owned 75% by Tennant Mining, a wholly owned subsidiary of Pan African Resources, and 25% by Emmerson Resources.
Emmerson's Q1 contribution of approximately $1.4 million will be funded from existing cash reserves and proceeds from recently exercised options.
The company's financial position will be further strengthened by minimum production payments of around $20 million, due between April and August 2026.
At the time of reporting, Emmerson Resources' share price was $0.27.