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Eagle Mountain Mining (ASX:EM2) - Managing Director, Charles Bennett Bass - The Market Herald
Managing Director, Charles Bennett Bass
Source: Business News
  • Eagle Mountain Mining (EM2) has intersected up to 25.09g/t silver during recent drilling at its Oracle Ridge Mine Project in Arizona
  • The company has received results from selected zones within holes WT-20-05 and WT-20-02
  • Hole five was drilled to test the potential of the southern area at Oracle Ridge and peak values of 2.46 per cent copper, 25.09g/t silver, and 0.56g/t gold were intersected
  • Hole two was drilled at the northern end of Oracle Ridge to test the Greesman Fault, which bounds the geology to the north
  • Drilling continues at Oracle Ridge, with further updates expected in the upcoming weeks
  • Eagle Mountain has ended the day 5.48 per cent in the red with shares trading for 34.5 cents

Eagle Mountain Mining (EM2) has intersected up to 25.09g/t silver during recent drilling at its Oracle Ridge Mine Project in Arizona.

The company has received results from selected zones within holes WT-20-05 and WT-20-02.

WT-20-05

Hole WT-20-05 was the first hole drilled that tested the potential of the southern area at Oracle Ridge.

It returned a significant result of 15.1 metres at 1.72 per cent copper, 16.87 per cent silver and 0.38g/t gold from 313.9 metres including 8.41 metres at 2.46 per cent copper, 25.09g/t silver, and 0.56g/t gold from 321.29 metres.

These results confirm the prospectivity of the project to host significant skarn-hosted copper mineralisation.

To test this belief, two additional holes have been drilled while a third is in progress.

Hole WT-20-10 aimed to test the Leatherwood-Sediments contact which lies 40 metres northeast of WT-20-05. It intersected zones of copper mineralisation and results from detailed logging are currently pending.

Holes WT-20-11 and WT-20-12 were designed to test the south-western extension of WT-20-05's intersection. Detailed logging is pending.

WT-20-02

WT-20-02 was drilled at the northern end of Oracle Ridge to test the Greesman Fault which bounds the Oracle Ridge geology to the north.

The Greesman Fault was intersected and is believed to measure a thickness of 15 metres and lies between 115 and 310 metres downhole.

Within this area, a 54 metre interval showed highly anomalous base metal values measuring more than 700 parts per million (ppm) zinc, 600ppm lead, and 300 ppm copper.

"This newly identified zone of broad copper mineralisation is more than 100 metres from the nearest significant assay in a sparsely drilled area," CEO Tim Mason commented.

"This is an exciting discovery that certainly reinforces the exploration potential at Oracle Ridge and the importance of the Leatherwood intrusive. Follow-up drilling around this zone is in progress, with sulphide mineralisation observed in drilling completed down dip," he added.

Eagle Mountain has ended the day 5.48 per cent in the red with shares trading for 34.5 cents in a $54.19 million market cap.


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