Eagle Mountain Mining Drills Oracle Ridge Resources Expansion Potential

THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) reported assays it has received for seven drill holes completed at the company’s 100 per cent-owned Oracle Ridge Mine project in Arizona, USA.

Eagle Mountain reported the high-grade copper assays were achieved at the Western Talon area, which sits outside the existing JORC Mineral Resource of 12.2 million tonnes at 1.51 per cent copper for 184,000 tonnes contained copper.

New assay results received include:

0.8m at 7.75 per cent copper, 258 grams per tonne silver and 2.54g/t gold;

13.4m at 1.98 per cent copper, 15.96g/t silver and 0.35g/t gold, within 61.5m at 1.07 per cent copper, 9.87g/t silver and 0.14g/t gold; and

3.1m at 6.85 per cent copper, 32.23g/t silver and 0.13g/t gold, within 74.4m at 0.93 per cent copper, 6.92g/t silver and 0.1g/t gold.

Drilling recommenced at Oracle Ridge on 3 January 2022 after a short break over Christmas. Two rigs will continue drilling at the Talon, focussing on the Western Talon and potential mineralisation between WT-21-31 and the Leatherwood Mine. Two additional drill pads are currently being established to facilitate better drill positions.

The third rig is testing for expansions to the existing Resource in the central part of the mine area. After this stream of work is completed, the rig will move towards the northern part of the mine area where several targets have been delineated with strong potential to add mineralisation through step-outs as well as infill of broadly spaced historical holes.

“We are delighted that drilling continues to deliver further strong results which supports the upside prospectivity at Oracle Ridge,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.

“All these results are outside the existing JORC Mineral Resources Estimate (JORC MRE), further supporting the potential to build our mineral resources.

“These results are from the Wave Zone, part of the Western Talon, which continues to excite us with a combination of both high-grade mineralisation and broad mineralised zones which may be more amendable to larger scale mining methods with relatively lower mining costs on a unit basis.

“To provide improved access to target this prospective area, we are currently constructing two new pads above the historic Leatherwood mine which reported historic production of 12 per cent copper, 200 grams per tonne silver and one gram per tonne gold.

“The longer turnaround time for assays means we now have 39 holes pending results.

“This is certainly disappointing, although not unique as these delays are impacting most companies in our sector.

“We remain on track to deliver an update on our JORC MRE in Q1 2022 which will include these latest results.”



Email: info@eaglemountain.com


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