Emergent Metals Corp. is pleased to announce that Kennecott Exploration Company ('KEX'), a subsidiary of Rio Tinto Group (LSE: RIO), has mobilized and has commenced drilling activities on the New York Canyon Property, NV ('New York Canyon' or the 'Property').

New York Canyon is subject to an Earn-In with Option to Joint Venture Agreement (the 'Agreement') between Emergent and KEX. KEX has options to earn a up to a 75% interest in the Property by completing up to US$22.5 million in exploration expenditures. The Property hosts a number of copper porphyry and skarn exploration targets.

About the NYC Property

NYC is located 30 miles east of Hawthorne, Nevada. The Property, subject to the Agreement, consists of 21 patented claims and 152 unpatented claims owned by Emergent and 265 unpatented claims owned by KEX., for a total of 21 patented claims and 417 unpatented claims (3,520 ha or 8,700 acres in size). The claims are located in two blocks, North and South. The North Block (the 'North Block'), subject to the Agreement, consists of 27 unpatented claims. The South Block (the 'South Block'), subject to the Agreement, consists of 21 patented claims and 390 unpatented claims.

The South Block hosts the Longshot Ridge, Copper Queen, and Champion copper porphyry and skarn exploration targets. The North Block hosts the newly discovered Emma copper porphyry and skarn exploration target. To date, all the exploration targets at NYC have been found on claims subject to the Agreement.

KEX has staked an additional 257 unpatented claims around the North Block (the 'North Buffer Claims') and 110 unpatented claims around the South Block (the 'South Buffer Claims'), for an additional 367 unpatented claims. These additional claims do not fall under the Agreement and are outside the Area of Influence that is part of the Agreement. This brings the total number of claims that make up the New York Canyon Property to 21 patented claims and 784 unpatented claims, or approximately 6,350 ha (15,700 acres).

Plans for the 2023 Exploration Program at New York Canyon

South Block

As part of its 2023 exploration program (the '2023 Exploration Program') at New York Canyon, KEX plans to initially test a target to the southeast of the Copper Queen area. Note in 2021, hole NYCN008 intersected 101.89 m (334.28 ft) of 0.35% CuEq, including 17.40 m 57,09 ft) of 0.734% CuEq, 4.76 m (15.62 ft) of 0.783 CuEq, and 3.00 m (9.84 ft) of 1.062% CuEq The Copper Queen target appears to be extending to the southeast and drilling is planned to test this. Surface rock chip sampling has indicated increasing copper grades and an increased copper to zinc ratio as one look to the southeast of Copper Queen. The target is a moderate magnetic high and high chargeability anomaly under thin cover (

(C) 2023 Electronic News Publishing, source ENP Newswire