Emmerson Resources and joint venture (JV) partner Tennant Mining have confirmed the White Devil gold deposit in the Northern Territory as a 'major mine', paving the way for its development under a contributing major mine JV (MMJV).

The 611 400 oz White Devil project, located about 35 km north-west of Tennant Creek, will be transferred into the MMJV, with Tennant Mining holding 60% and Emmerson retaining a contributing 40% interest. Formal documentation is well advanced.

The companies said an updated mineral resource estimate was expected in October, followed by a feasibility study before the end of 2025.

“To have agreement between both JV partners that the White Devil gold deposit is a major mine is a substantial development. For the partners to identify the opportunity, complete two resource updates, undertake a scoping study and complete over 10 000 m of drilling all within nine months is a testament to not only the prospectivity of the field, but also a reminder of what can be achieved when JV partners are aligned for a common goal," said Emmerson Resources MD Mike Dunbar.

“This is a fantastic outcome for all stakeholders, and the board is delighted with the rapid progress made,” he added.

The JV framework between Emmerson and Tennant Mining, a subsidiary of Pan African Resources, allows for resources above 250 000 oz to be classified as major mines and developed through contributing JVs, while smaller deposits are progressed through royalty-based arrangements.

As part of the JV agreements, the partners have also classified the 133 900 oz Golden Forty deposit as a 'small mine'. The project has been transferred into the southern project area small mines JV (SPA SMJV), giving Tennant Mining full control of development and operations. Emmerson will receive an uncapped 6% gross production royalty on any gold produced.

"In the SPA SMJV, Pan African Resources, through its 100% owned subsidiary Tennant Mining, receives complete control for the development and operation of the mine and Emmerson receives an uncapped 6% gross production royalty on any gold produced,” said Dunbar.

“Given the high grade nature of the Golden Forty deposit and the proximity to the Nobles CIL processing facility, subject to detailed mine design, scheduling and permitting, it is expected that the deposit will be in operation within the next few years – providing Emmerson with a low-risk return through the royalty stream,” he added.

Golden Forty, situated 14 km east of Tennant Creek, was a former underground mine that produced 55 000 oz of gold. Recent drilling and resource estimates have confirmed its potential for a future underground operation feeding into the nearby Nobles processing plant.