Results on the periphery of the resource demonstrate the scale potential beyond the existing mineral resource. Pic via Getty Images.
Eagle Mountain hits thick mineralised zones in multiple holes at Oracle Ridge
Mining
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All six surface holes drilled on the far western extent of Eagle Mountain’s Oracle Ridge copper mine have intersected broad mineralised zones on the periphery of the resource, demonstrating scale potential.
Eagle Mountain (ASX:EM2) says these holes are likely to increase the Measured resource category in this area as well as an overall increase in the volume of mineralisation, with results including high-grade intersections within a wider zone in the Martin and Abrigo formations.
Stand out hits include 15.5m at 1.35% copper, 11.93g/t silver, and 0.27g/t gold within 102.7m at 0.79% copper 5.33g/t silver and 0.10g/t gold and 19m at 2.08% copper, 22.88g/t silver and 0.22g/t gold within 58.9m at 1.12% copper, 12.44g/t silver and 0.14g/t gold.
EM2 CEO Tim Mason says the company’s knowledge of Oracle Ridge is enhanced by these results, which contribute to its overall goal to restart the copper mine with a focus on low emission production.
“Our mineral resource has significantly more contained metal at lower cut-offs, and this provides optionality for a potentially larger mining operation,” he explains.
Opportunity for further mineralisation beyond deposit
Whilst the copper grades vary across the mineralised zones, the higher grades are typically in the Abrigo formation and associated with skarn and magnetite alteration.
“Mineralisation is commonly associated with elevated magnetite; however high-grade zones also occur in regions outside of elevated magnetic responses.
“This provides opportunity for further mineralisation to occur beyond these areas of the deposit.”
Optionality for bulk mining and processing scenarios
Meanwhile, assays for another three underground holes encountered several mineralised zones of skarn-altered limestone with disseminated chalcocite being intersected.
EM2 says these holes have not only confirmed the existing geology model and locations of mineralisation, but the substantial amount of sub-1% copper mineralisation intermixed with higher grade material presents optionality for bulk mining and processing scenarios.
Results include 1.4m at 3.20% copper, 32g/t silver and 0.55g/t gold, 2.1m at 2.98% copper, 19.71g/t silver and 0.27g/t gold within 47m at 0.52% copper, 4.97g/t silver and 0.08g/t gold.
The thick intercepts across a wide grade range support optionality and the potential for lower grade, bulk style mining and extraction methods.
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.
