THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) claimed discovery of two separate prospective alteration systems have been discovered at Golden Eagle, part of the company’s Oracle Ridge project in Arizona, USA.
Eagle Mountain Mining explained the two systems are both vastly different to the copper skarn mineralisation at the Oracle Ridge mine two kilometres to the west.
One alteration system includes silica flooding, quartz stockwork veining and pyritization along a major fault system; measuring 1 kilometre by 0.3 kilometres and remains open in three directions.
Gold samples up to 10.45 grams per tonne gold are part of the second alteration system that sits along a 1.5-kilometre-long magnetic high anomaly.
“These two new systems have the potential to dramatically alter the scope of any future mining operation, along with the addition of further copper skarn mineralisation at OREX,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.
“We are all very excited by the recent results at Golden Eagle and initial drilling has already commenced on these two systems.
“Resource extension drilling at the Oracle Ridge mine to enlarge and improve the current JORC resource continues and remains a priority focus for us.
“Recent mapping and sampling…has identified extensive alteration zones, which combined with structural complexity and several high-grade gold samples demonstrate the potential of the Golden Eagle project.
“These are all favourable ingredients for a potential mineralised system at depth.
“This area has had a history of small-scale historical mining, predominantly gold but also some copper.
“Golden Eagle showed great potential, so we wasted no time: additional claims have been staked to secure our land position over prospective areas and a rig has been drilling on our patented claims since July.”