** Australian diversified miner EMU gains as much as 7.1% to A$0.030, its highest level since mid-June

** Co says it has identified multiple copper rock formations close to surface at Yataga Copper Project in North Queensland

** Co looking forward to preparing an appropriate drilling program for project once copper formations are confirmed

** Around 1.6 mln shares traded, ~8x the 30-day avg volume

** EMU stock up 1.7% so far this year, as of last close

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))