Development races forward for Eagle Mountain after search turns up more top results
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Eagle Mountain’s ongoing resource development work is delivering the goods with expansion holes continuing to intersect significant zones of copper mineralisation.
Resource expansion drilling delivered results such as 12.5m grading 2.08% copper, 18.81g/t silver and 0.33g/t gold from a down-hole depth of 171m (WT-22-88) and 10.7m at 2.23% copper, 19.62g/t silver and 0.35g/t gold from 187.6m (WT-22-110).
These results are hugely encouraging for Eagle Mountain (ASX:EM2) as it advances an update to the Oracle Ridge resource for release at the end of September.
The company isn’t stopping there with mapping and sampling of historical mines adjacent to Oracle Ridge now underway to refine the local geology model, aid with the resource estimate and identify new targets.
Project development is also continuing at an accelerated pace with a mining contractor on site for the underground refurbishment while maintenance of existing electrical and ventilation infrastructure is ongoing.
Chief executive officer Tim Mason said the company seeks to leverage the existing infrastructure to drill and sample underground.
“We are only two months away from driving our first underground rig through the Oracle Ridge portals,” he added.
“Metallurgical studies have commenced to review and update existing information that we will need for the upcoming mining studies.
“On the geological front, the team is currently mapping the historical workings peripheral to the Oracle Ridge mine and also fine tuning our drilling plans for OREX.”
Drilling at Oracle Ridge remains focused on the Talon area with a few holes testing peripheral extensions to the west and north of the mine.
The company has received assays for 22 holes to date already, 17 of which are resource expansion holes that continue to support the potential for growth of the resource estimate at a 1% copper cut-off grade.
At southern Talon, its drill results combined with strong mineralisation in outcrop and historical workings at the nearby Leatherwood mine suggests the mineralisation is continuous to surface and daylights in the Leatherwood mine area.
Drilling at western Talon successfully tested potential southern extensions to mineralisation as well as gaps in the previous drilling while mineralisation across the eastern Talon target appears thinner and more discontinuous than in the southern and western Talon, with thickness and grade increasing from south to north.
Eagle Mountain has also completed a surface mapping and sampling program across outcropping mineralisation in the eastern Talon and will incorporate results into the geological model and used to improve confidence in the upcoming resource estimate.
Meanwhile, hole WT-22-88 drilled to the south of the main mine area intersected mineralisation thicker than mineralised intervals in nearby holes.
A geological review is ongoing to establish if a different mineralisation structure can be ascertained from this interesting intercept.
This article was developed in collaboration with Eagle Mountain, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.