THE DRILL SERGEANT: Eagle Mountain Mining is set to extend the current surface diamond drilling program underway at the company’s high-grade Oracle Ridge copper mine project, located just north of Tucson, Arizona in the United States.
Eagle Mountain Mining is funding the extended program by way of a recent placement that received firm commitments to raise $1.5 million from Australian and European institutional investors.
“The diamond drilling program at Oracle Ridge is progressing well and we are keen to keep the Boart Longyear team onsite beyond this current drill program,” Eagle Mountain Mining managing director Charles Bass said in the company’s announcement to the Australian Securities Exchange.
“The Placement together with my decision to early exercise options will allow us to do just that.
“I am excited about not only the potential for increasing the existing mine resource base, but also adding further resources in the near-mine area.
“We look forward to updating the market as results from the drilling campaign are received.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE