The hits keep coming for Eagle Mountain Mining as it continues to intersect thick, high-grade copper in resource extension and infill drilling at the Oracle Ridge mine in Arizona, USA.

The six resource extension holes at Talon returned:

  • 30.7m at 2.54% Cu, 21.84g/t Ag, 0.42g/t Au, within 63.1m at 1.84% Cu, 15.68g/t Ag, 0.30g/t Au; and
  • 38.1m at 1.97% Cu, 20.64g/t Ag, 0.51g/t Au, including 11.0m at 2.55% Cu, 28.84g/t Ag, 0.81g/t Au.

And the four resource infill holes in the mine area returned:

  • 17.3m at 2.23% Cu, 25.34g/t Ag and 0.21g/t Au;
  • 10.5m at 1.95% Cu, 26.04g/t Ag and 0.28g/t Au, within a fully diluted 46.0m at 1.49% Cu, 17.91g/t Ag, 0.20g/t Au; and
  • 10.9m at 2.45% Cu, 18.97g/t Ag and 0.41g/t Au, within 45.6m at 1.62% Cu, 17.30g/t Ag and 0.31g/t Au.

The Aussie copper explorer says the resource infill drilling supports its decision to recommission the existing underground mine for more effective diamond drilling and bulk sampling.

Plus, the shorter drill holes will assist in more efficiently converting indicated resource to measured and inferred resource to indicated compared to surface drilling.

Mineral resource update due this month

Eagle Mountain Mining (ASX:EM2) CEO Tim Mason – a man who knows the region and the rocks better than anyone –  says the results continue to build confidence in  the historical drilling and demonstrate the cracking resource growth potential at Oracle Ridge.

“The resource infill drilling is designed to allow us to declare measured resources for the first time under the JORC Code and increase tonnes in the indicated category in the MRE update, which is scheduled for completion in a few weeks,” Mason told Stockhead.

“Expanding the resource base in the measured and indicated categories is critical, as following completion of successful feasibility studies, we aim to translate these to proven and probable reserves.”

Hundreds of new drill holes

These new results will be included in a further MRE revision planned for Q4, along with the assays pending for a further 56 holes.

“By that time, we are planning to have re-opened the existing mine and have an underground rig conducting infill drilling to increase the measured and indicated resource with more efficient drilling,” Mason said.

“At the current and expected rate of drilling, we should have well over 100 new drillholes to be incorporated into that MRE revision.”

Eagle Mountain
Pic: 3D view looking west showing the Oracle Ridge Project areas and the general location of recently received assay results.

Ongoing drilling targeting resource extensions

Drilling will continue to focus on resource extensions at the Talon and in the northern mine area, with permits to allow drilling at OREX expected to be received in the coming months which will allow a greenfields exploration program to kick off.

This program will test the potential repetition of the skarn-hosted mineralised system at Oracle Ridge below the Leatherwood intrusion, which the company says is a target with the potential to substantially increase the resource base of the project in the medium to long term.

 

 

 

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.

Read MoreCopper

Featured Companies

You might be interested in