Emerald Resources: Memot gold resource climbs 27% to 1.7Moz

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.

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.

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The post Emerald Resources: Memot gold resource climbs 27% to 1.7Moz appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.