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Mining
Eagle Mountain has extended eastern Talon mineralisation further to the east with good results returned from three of the five holes drilled.
These include two thick intersections of 24.5m grading 1.68% copper, 14.68 grams per tonne (g/t) silver and 0.34g/t gold from a down-hole depth of 212.3m and 13.2m at 1.75% copper, 14.51g/t silver and 0.37g/t gold from 244.1m within WT-22-121 – the easternmost hole drilled in the target by the company.
Notably for Eagle Mountain (ASX:EM2), the mineralisation remains open to the east and south and is interpreted to connect with outcropping mineralisation at surface.
Results are pending for a further four holes drilled in the far eastern Talon area while large diameter drilling is being undertaken at Talon to collect metallurgical testwork samples and to infill the known resource of grading 1.48% copper, 15.09g/t silver and 0.17g/t gold for 251,000t of copper, 8.2Moz silver and 93,000oz in gold.
“These latest results are likely to improve our anticipated Mineral Resource Estimate update and our strategy to work towards re-opening the Oracle Ridge Copper Mine,” chief executive officer Tim Mason said.
“Recommissioning of the existing underground mine will be a key milestone for the company and will lead to faster and less expensive drilling compared to drilling from surface, due to shorter hole lengths, along with invaluable access for future works and study requirements.”
The Eastern Talon target of the company’s Oracle Ridge project in Arizona was considered highly prospective due to its magnetic geophysical signature, similar to other strongly mineralised areas at the project, and the presence of historical workings along the eastern boundary of the magnetic anomaly at the surface.
However, it was not tested by previous explorers due to the steep terrain.
Other notable intersections are:
Expansion drilling at Talon has delivered encouraging results with hole WT-22-116 in the southern area returning a 15.8m intersection at 1.94% copper, 16.26g/t silver and 0.28g/t gold.
Assays are pending for several holes drilled in the area between WT-22-116 and WT-22-119 about 200m to the east where no previous drilling has been carried out at.
Holes in the eastern Talon also returned results such as 13.7m at 1.97% copper, 25.69g/t silver and 0.39g/t gold in WT-22-126, which was completed east of WT-21-06 (12.7m at 3.96% copper, 49.11g/t silver and 1.38g/t gold), and 12.3m at 1.62% copper, 24.57g/t silver, and 0.28g/t gold in WT-22-124 about 60m south of WT-22-126.
The area east of both holes remains open with assays pending for two recently completed holes.
Expansion drilling at the Western Mine area has also returned an intriguing result of 5.6m at 3.79% copper, 11.22g/t silver and 0.05g/t gold in WT22-127.
Eagle Mountain noted that this is one of the westernmost mineralised intersections encountered at Oracle Ridge since the 1970s and open to the west, an area that shows a structural complexity which needs to be unravelled by further drilling.
The company will continue to focus its surface drilling activities on resource expansion and metallurgical drilling.
The latter program has commenced at Talon with two large diameter holes currently planned. Metallurgical studies will be completed on core collected from these holes to ascertain the processing characteristics of the mineralisation.
This marks the first time that such studies have been completed in the Talon area.
Underground activities are ramping up with contractors expected to commence the refurbishment of the underground infrastructure in the next two to three weeks.
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.
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