The Emerald Resources (ASX: EMR) share price is in focus today after the gold developer announced a 27% increase in the Memot Gold Project's mineral resource estimate to 1.7 million ounces, with over 70% now classified as Indicated.
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What did Emerald Resources report?
- Memot Gold Project resource increased to 45.0Mt @ 1.2g/t Au for 1.7Moz
- Indicated category up 22%—now 1.2Moz of the resource
- Higher-grade resource: 21.6Mt @ 1.8g/t Au for 1.24Moz
- Resource remains open in all directions and at depth
- Project fully permitted after recent grant of Industrial Mining Licence and Mineral Investment Agreement
What else do investors need to know?
The resource update builds on drilling during 2025, following earlier resource estimates and now positions Memot as a key growth pillar for Emerald in Cambodia. The mineralisation at Memot remains open, supporting ongoing exploration and potential for further resource growth. A maiden ore reserve statement is expected to follow this resource update.
Emerald is planning an extensive extensional and infill drilling campaign through 2026, targeting both Memot and additional prospects across its 1,190km² Cambodian tenements and 1,110km² of priority ground in Western Australia. The company maintains a strong financial position, with significant cash, bullion, and investments on hand to fund project development.
What's next for Emerald Resources?
Emerald plans to advance development at Memot in 2026, underpinned by the upcoming maiden ore reserve and updated feasibility studies. Next steps include ongoing drilling to target resource extensions, improve confidence, and support conversion of resources to reserves.
The company continues to explore and expand across both its Australian and Cambodian projects, aiming to grow its annual gold production profile towards the 300,000 – 400,000 ounce range. Emerald also remains committed to strong environmental practices as project development moves forward.
Emerald Resources share price snapshot
Over the past 12 months, Emerald Resources shares have risen 101%, significantly outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.
