The Emerald Resources (ASX: EMR) share price is under the spotlight today after the company announced an updated mineral resource estimate for the Dingo Range Gold Project in Western Australia. The latest update features a 40.9 million tonne resource at 1.1 grams per tonne (g/t) gold for a total of 1.41 million ounces (Moz) of gold, including a higher-grade 24.2Mt at 1.4g/t for 1.12Moz.
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What did Emerald Resources report?
- Measured, Indicated, and Inferred Mineral Resource Estimate for Dingo Range of 40.9Mt @ 1.1g/t Au for 1.41Moz
- Higher-grade subset: 24.2Mt @ 1.4g/t Au for 1.12Moz
- Ongoing drilling continues to show potential for resource extensions at depth and along strike
- Project now fully permitted for mining, with regulatory approvals granted in December 2025
- Maiden ore reserve and Definitive Feasibility Study (DFS) underway and set to be finalised following this update
What else do investors need to know?
Emerald's drill programs at the Dingo Range are continuing, focusing on both open pit and underground potential. Recent drilling at the Boundary Prospect has returned encouraging high-grade results, and results from down-plunge extension drilling are expected in the short term.
The project is now fully permitted for mining, with a Clearing Permit approved following the Mining Proposal and Mine Closure Plan in late 2025. This clears the way for Emerald to move into project development once the works approval is received.
What's next for Emerald Resources?
The focus for the rest of 2026 is on converting the newly updated resource into a maiden ore reserve, finalising feasibility studies, and progressing the Dingo Range Gold Project towards development. Emerald also plans ongoing drilling campaigns to further grow the resource base and test the underground potential at several prospects.
With all key regulatory approvals now in place, the company is aiming to begin full development activities in calendar year 2026. In parallel, similar progress is underway at the Memot Gold Project in Cambodia, supporting Emerald's aspiration to become a 300,000 to 400,000 ounce per year gold producer.
Emerald Resources share price snapshot
Over the past 12 months, Emerald Resources shares have risen 107%, strongly outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.
