Eagle Mountain continues to unravel Oracle Ridge significance with unexpected grades
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Infill drilling has helped Eagle land up to 46.7m at 2.16% copper, 19.55 g/t silver and 0.27 g/t gold in a program CEO Tim Mason expects will upgrade mineral resources at Arizona’s Oracle Ridge.
Mason’s hits keep coming with three high-grade zones intersected within a thick mineralised zone in hole WT-21-51 at the Oracle Ridge Project in Arizona, USA.
These are the first of some notable results which include:
Eagle Mountain (ASX:EM2) says results show significantly higher-copper and gold grades than the adjacent drill holes, which has prompted a reassessment of key features controlling mineralisation in this part of the mine.
The EM2 technical team is on the ground revisiting recent and historical information to establish the potential endowment of this style of copper mineralisation.
EM2’s Tim Mason says this latest hole has delivered spectacular grades over significant minable widths.
“The assays from hole WT-21-51 are some of the best results that we have encountered or Oracle Ridge, with copper and gold grades significantly better than the surrounding holes,” he said.
“The very high-grade assays are associated with veins carrying abundant copper sulphides and overprinting the more typical skarn-hosted mineralisation, which is unusual at Oracle Ridge.
“We are working towards unravelling its significance in controlling high-grade mineralisation and spatial continuity – it is opportunities like this that continue to excite us.”
Speaking to upcoming plans, Mason says the updated mineral resource estimate is scheduled for completion by the end of Q1 and will include assays up to hole WT-21-50.
“This upgrade will include 59 new holes with the aim of building and upgrade the mineral resource estimate, including a portion in the measured category for the first time.”
Three rigs are currently drilling at Oracle Ridge, focusing on the Talon to the south and extensions to the known resource in the north.
Winter conditions in Arizona have been quite favourable during December and January with negligible delays to drilling activities.
Assays are pending for 37 holes from the mine area and 11 from Golden Eagle.
Assay laboratories continue to be impacted by COVID-19 in what was already an intense 2-3 years.
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.