Eagle Mountain Drills Resource Upgrade Potential at Oracle Ridge

THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) reported further strong copper intercepts from ongoing drilling at the company’s 80 per cent-owned Oracle Ridge mine project in Arizona, USA.

Eagle Mountain drilled hole WT-20-16 to the west of previous hole, WT-20-03, targeting the extension to mineralisation it had encountered in recent and had noted in historical drill hole data.

Two mineralised zones were encountered, returning:

12.7 metres at 1.41 per cent copper, 17.72 grams per tonne silver and 0.22g/t gold, from 206.5m; and
17m at 1.48 per cent copper, 19.23g/t silver and 0.23g/t gold, from 278.6m, including 3.6m at 2.59 per cent copper, 32.37g/t silver and 0.25g/t gold from 279.4m.

The recently-achieved intercepts are outside the existing Oracle Ridge JORC Mineral Resource Estimate.

They sit in a sparsely drilled area that is contained within a broad mineralised zone of 100m, located within 60m of existing underground development.

Eagle Mountain believes the intercepts further demonstrate the potential for future expansion of the Mineral Resources Estimate (MRE).

“The significant intercept widths in WT-20-16 further illustrate the real potential for a substantial increase in resource tonnage,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.

“The intercepts are open to the north and north-east for approximately 100 metres and large portions of the Leatherwood contact remain untested towards the east.

“Importantly, the upper intercept is within 60 metres of existing underground development, which in a potential future mining operation will reduce the costs of accessing this mineralisation at an early stage.

“Based on the strong results from this hole, two further holes have been drilled in this area (WT-21-01 and WT21-02) with assays pending.”




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