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Eagle Mountain Mining (ASX:EM2) - Managing Director, Charles Bennett Bass - The Market Herald
Managing Director, Charles Bennett Bass
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  • Eagle Mountain Mining (EM2) has received high-grade assay results from initial drilling at the Oracle Ridge Mine Project in Arizona
  • The primary aim of this drilling is to target extensions of the high-grade portions of the existing mineral resource estimate
  • Of the nine holes drilled, two were abandoned due to stuck or broken rods, and of the seven completed, six intersected skarn-hosted copper mineralisation
  • The company has received results from two holes with grades peaking at 13.05 per cent copper, 127g/t silver, and 2.24g/t gold
  • Samples from four holes have been submitted for analysis, with results expected in the upcoming weeks
  • Eagle Mountain is up a healthy 15.6 per cent and shares are currently trading for 37 cents

Eagle Mountain Mining (EM2) has received high-grade assay results from initial drilling at the Oracle Ridge Mine Project in Arizona.

The primary aim of this drilling is to target extensions of the high-grade portions of the existing mineral resource estimate (MRE).

Eagle Mountain has received results from the upper part of hole WT-20-03 and from selected zones in hole WT-20-04.

Of the nine holes drilled, two were abandoned due to stuck or broken rods, and of the seven completed, six intersected skarn-hosted copper mineralisation.

WT-20-03

Hole WT-20-03 aimed to test a sparsely drilled area which has potential for extensions of high-grade intersections from historical drilling.

This hole successfully intersected three separate zones of mineralisation, increasing the prospectivity of the area.

Results include 3.18 metres at 1.8 per cent copper, 20.3g/t silver and 0.12g/t gold, and 3.93 metres at 1.43 per cent copper, 11.25g/t silver and 0.14g/t gold.

Further drilling is being planned to establish the continuity, tenor and thickness of mineralisation between hole WT-20-03 and holes to the north and south.

WT-20-04

WT-20-04 was drilled in the same zone as historical hole OUH-063 to assess the true thickness of the mineralisation.

It was then confirmed at depth to confirm a historical intersection in a minimally drilled area.

High-grade mineralisation was intersected immediately north of OUH-063, confirming the historical grades and suggesting a strong thickness to the zone.

Best results include 4.56 metres at 5.28 per cent copper, 50.7g/d silver and 0.77g/t gold including 0.93 metres at 13.05 per cent copper, 127g/t silver and 0.32g/t gold.

"This is an excellent start to our drill program at Oracle Ridge, which targeted zones outside the existing mineral resource estimate," CEO Tim Mason commented.

"Following delays from the busy assay laboratories, we are now beginning to see assay results coming through, and to date we have successfully drilled seven holes to their target depth, with assay results from previously drilled holes expected to be steadily received over the coming weeks," he said.

"Our goals is to build on the significant high-grade copper MRE, to support a potential future mining operation with these assay results reinforcing our view that there is significant mineralisation outside the existing MRE at the project," he added.

Samples from holes WT-20-02, WT-20-03, WT-20-05 and WT-20-07 have been submitted for analysis, with results expected in the upcoming weeks.

Additionally, work has been extended to the end of 2020.

Eagle Mountain is up a healthy 15.6 per cent and shares are trading for 37 cents each at 12:54 pm AEDT.

EM2 by the numbers
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