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Mining
Detailed report by skarn expert further enhances the potential for mineralisation on the Leatherwood intrusive lower contact at OREX.
Dr Larry Meinert presented his conclusions which notably determined that there were additional high-grade mineralisation opportunities beneath the Leatherwood granitic intrusion in the mine area.
Dr Meinert also concluded that there was potentially additional copper-rich mineralisation at the southern extension of the mine and two areas identified as potential sources of the high-grade copper mineralisation.
Eagle Mountain Mining (ASX: EM2) engaged the world-renowned expert earlier in the year to provide support to the technical team on the company’s exploration activities at the 100% owned Oracle Ridge project in Arizona, USA. Dr Meinert’s review included examination of drill core, mapping of underground formations and assay analysis.
For CEO Tim Mason, these conclusions provided assurance and added confidence to the company’s initial views that the contacts of the Leatherwood intrusion was capable of further high-grade mineralisation.
“This review also adds confidence to our recent discovery of high-grade mineralisation outcropping along a 4km exposure of the Leatherwood lower contact at surface at OREX.
“The combination of this discovery and Dr Meinert’s review provides further credibility that OREX is an exciting prospective target area. We are completing a UAV (unmanned aerial vehicle) magnetic survey to define drill targets.”
Included as part of Dr Meinert’s discoveries was the potential for additional sources of copper-rich fluids to the south of the current mineralised zone at Oracle Ridge. The spatial distribution of copper, zinc and lead values show evidence of high-temperature, copper-rich fluids in the central mine area, where the majority of the known mineralisation is situated.
These similar ratios are also elevated to the south, suggesting additional sources of mineralisation.
Recent drilling has confirmed the southern part of the Oracle Ridge mineralised system to be well endowed in copper, silver and gold.
Dr Meinert also observed depth potential within the Oracle Ridge project, due to favourable geological mineralisations based on their proximity to the Leatherwood granitic intrusion.
The determination of depth potential could also be based upon the tendency of hydrothermal fluids to pool beneath traps such as the Leatherwood-Sediment contact and the likelihood of copper-mineralised skarn occurring at depth.
The report also shared that there was a strong magnetic signature due to the abundant magnetite present in the copper-mineralised skarn. Eagle Mountain have previously successfully tested discrete magnetic anomalies at Oracle Ridge and in the southern zone.
The outcomes of Dr Meinert’s work support the company’s decision to prioritise exploration drilling at Oracle Ridge in the southern zone. Eagle Mountain has already established several pads and provided for road refurbishment in the area in anticipation of ramping up drilling.
Results from a recently-completed magnetic survey at OREX are also imminent, with this data to identify initial drill targets. Eagle Mountain is also set to confirm a third diamond drill rig at the site and to undertake geochemical evaluation of the OREX outcrops to assist with focusing drill targets.
Dr Meinert will continue to work with the technical team at Eagle Mountain to further improve the knowledge of the mineralisation system, evaluate exploration results at near mine targets and define new prospective areas within the Oracle Ridge region.
This article was developed in collaboration with Eagle Mountain Mining, 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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