Eagle Mountain eyes resource expansion potential with more high-grade assays at Arizona project
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Eagle Mountain Mining has returned more high-grade copper assays from the Western Talon prospect at its Oracle Ridge project in Arizona, USA.
The assays from four drill holes (and the remainder of one hole) occur outside the existing JORC resource of 12.2 million tonnes at 1.51% copper, 16g/t silver and 0.19g/t gold, and include:
The results are within the recently defined ‘Wave’ zone, which is now interpreted to connect to the historic Leatherwood mine which produced around 12% copper, 200g/t silver and 1g/t gold..
Eagle Mountain Mining (ASX:EM2) believes the new results show the enhanced potential to expand the existing JORC resource with the Wave zone open to the east and along strike.
“These latest drilling results are significant as they not only provide further support for expanding our JORC Resource, but they confirm the prospectivity of the ‘Wave’ structure which hosts some of the thickest intercepts at Oracle Ridge,” CEO Tim Mason said.
“The Wave zone, which is a feature within the Talon, is now interpreted to connect recent high-grade intercepts to the historic Leatherwood mine where mineralisation outcrops at the surface at the southern end of the mine area.
“While the Leatherwood mine is relatively small, the reported mined grades are spectacular, suggesting potential for very high-grade copper mineralisation to also occur along the Wave zone.
“We have assays pending for 11 drill holes from the northern part of the Wave zone and further holes will be drilled as roads are established in this area.
“We look forward to receiving further assays from Talon which has continued to show strong potential to build our JORC Resource.”
Assays are pending for 13 holes in the Mine Area and further 11 holes at Golden Eagle, due to delays at the laboratory, which Mason said have now been fixed with the company’s results being expedited.
Three rigs are operating at the project, with two testing the Wave zone and one completing resource upgrade drilling.
The company is continuing the establishment of new roads and drill pads, as well as improving existing access to various parts of the project.
EM2 is also installing a modern core cutting machine at its office in Tucson to allow core cutting and sampling to be completed in-house – and thus avoiding some of the delays experienced at the laboratories.
The core saw is expected to be brought online in mid-November.
This article was developed in collaboration with Eagle Mountain Mining Limited, 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.