Eagle Mountain assays predict more mineralisation to come at Oracle Ridge
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Strong copper assays from rock chips taken from historical mines have outlined the broader potential of Eagle Mountain’s Oracle Ridge project in Arizona.
Notable results from the Hartman-Homestake underground mine include 4.42% copper, 60.8 grams per tonne (g/t) silver, 0.29% zinc and 0.87% lead (HH14), 3.93% copper, 344g/t silver, 0.76% zinc and 3.22% lead (HH19), and 3.09% copper, 73.2g/t silver, 0.06% zinc and 0.03% lead (HH16).
This is massively encouraging for Eagle Mountain (ASX:EM2) given the historical mine is located just 500m from its existing JORC resource on patented mining claims where drilling can be expedited.
Adding further interest, significant zinc and lead assays along with apparent structural control makes this area quite different to anything seen in the main mine area and any drilling to date.
Separately, surface rock chip sampling from southern Talon and near the historical Stratton workings indicate that the current modelled resource extends to the surface in this area.
Notable results are 8.96% copper, 79.4g/t silver and 0.75g/t gold as well as 8.63% copper, 61.9g/t silver and 0.94g/t gold.
“These excellent assay results at the Hartman-Homestake mine demonstrate the broader endowment potential of the Oracle Ridge project. Extensive skarn alteration and strong copper, silver, zinc and lead occur within two kilometres of the existing mine portal,” chief executive officer Tim Mason said.
“Importantly, the Hartman-Homestake area is located on patented claims and, after geological targets have been refined, earthworks and drilling can be expedited.
“These results strongly enhance our view that there is much more mineralisation to be discovered at Oracle Ridge, bolstering our plans for a future mine with growth potential.”
He added that the new information supports the company’s belief that Oracle Ridge is similar to many other global copper skarn deposits in having quite a broad area of separate mineralised zones and that additional work is planned to better understand the local geology and develop drill ready targets.
Marble Peak – the main topographic feature at Oracle Ridge – contains several historical workings in the vicinity of the Oracle Ridge mine portals.
These include the Hartman-Homestake mine and the Stratton area.
While limited information is available regarding historical production from Hartman-Homestake, the mine is believed to have been operational in the early decades of last century.
A recent review of historical reports by the company’s technical team highlighted the existence of underground workings covering an area of about 100m by 100m while historical samples reported on underground maps showed encouraging base metal values.
Other work being planned include the review and compilation of historical data, detailed mapping and sampling, geological interpretation and 3D modelling to define viable drill targets, underground survey of the workings and eventual drilling from surface.
Meanwhile, Stratton is about 600m west of the Leatherwood mine at Southern Talon.
All rock chips in the easternmost adits returned copper values exceeding 1% copper with a chemistry similar to Oracle Ridge.
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.