Eagle Mountain Mining Continues Oracle Ridge Copper Hits
THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) reported on assays recent drilling completed at the company’s 100 per cent-owned Oracle Ridge mine project in Arizona, USA.
Four holes were drilled in the north-west of Oracle Ridge at the main Mine Area as part of the company’s Resource Infill program, while six holes were drilled as part of its Resource Expansion program.
Resource infill drilling in the Mine Area included:
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17.3 meters at 2.23 per cent copper, 25.34 grams per tonne silver and 0.21g/t gold, and 10.5m at 1.95 per cent copper, 26.04g/t silver; and
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0.28g/t gold within a fully diluted 46m at 1.49 per cent copper, 17.91g/t silver, 0.2g/t gold.
Resource extension drilling at the Talon returned:
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30.7m at 2.54 per cent copper, 21.84g/t silver, 0.42g/t gold within 63.1m at 1.84 per cent copper, 15.68g/t silver, 0.3g/t gold.
Eagle Mountain Mining explained the first JORC Mineral Resource Estimate (MRE) update including drilling completed since its Oracle Ridge acquisition is on track for completion this month.
However, assays for these recent 10 holes have not been included in the MRE update and will be included in the next MRE update the company has planned for Q4 2022.
“The Western Talon has delivered some of the thickest and highest-grade intersections to date with mineralisation getting richer to the south,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.
“We are delighted that these results continue to add confidence to the historical drilling and demonstrate the Resource growth potential at Oracle Ridge.
“The resource infill drilling is designed to allow us to declare Measured Resources for the first time under the JORC Code and increase tonnes in the Indicated category in the MRE update, which is scheduled for completion in a few weeks.
“Expanding the resource base in the Measured and Indicated categories is critical, as following completion of successful feasibility studies, we aim to translate these to Proven and Probable Reserves.
“These exceptional results will be included in a further MRE revision later this year which will benefit from the strong results reported in this announcement plus all other assays received up to the time of finalising that revision.
“By that time, we are planning to have re-opened the existing mine and have an underground rig conducting infill drilling to increase the Measured and Indicated Resource with more efficient drilling.
“At the current and expected rate of drilling, we should have well over 100 new drillholes to be incorporated into that MRE revision.”
Email: info@eaglemountain.com.au
