Eagle Mountain’s Oracle Ridge resource set to soar
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The case for a substantial resource upgrade at Eagle Mountain’s Oracle Ridge project has strengthened after drilling at The Talon target returned more thick, high-grade hits.
After all, it is hard to argue with results such as 22.5m grading 2.84% copper, 27.46 grams per tonne (g/t) silver and 0.48g/t gold and 28m at 1.62% copper, 12.44g/t silver and 0.23g/t gold.
Those were intersected within the Wave Zone outside the existing JORC resource of 12.2Mt at 1.51% copper.
Today’s numbers support the continuity of Eagle Mountain Mining’s (ASX:EM2) recently defined Wave Zone which extends well over 500m with previous drilling returning results highlights like – 28.9m at 2.34% copper, 21.95g/t silver and 0.37g/t gold.
This zone is interpreted to connect to the historical Leatherwood mine, which had produced ore grading around 12% copper, 200g/t silver and 1g/t gold in 1969 (Beatles: Abbey Road, Led Zeppelin II, Bob Dylan: Nashville Skyline) according to the only known production record.
EM2’s evidence bag is likely to grow further ahead of a planned resource update in the first quarter of 2022. A swag of assays are still pending for 18 holes in the mine area, a further 11 from the Golden Eagle target and then there’s drilling still underway with three rigs operating, two of them in the Wave Zone.
“The recently discovered Wave Zone within The Talon target continues to demonstrate strong potential to increase Eagle Mountain’s JORC resource with thick zones of high-grade mineralisation,” chief executive officer Tim Mason said.
“The Wave Zone is interpreted to extend well over 500m with outcropping mineralisation at the surface at the southern end. Large portions of the Wave Zone remain untested, with the mineralisation also being open to the east.
“Due to these consistently strong results, drilling is focused along the Wave and we eagerly await further assay results in this prospective area.”
Mr Mason added that the broader Talon anomaly remains a prime exploration target due to multiple strong results from both the company’s recent and historical drilling.
The top result from the latest batch of four drill holes was returned from WT-21-40, which was drilled in the Western Talon area to test extensions to mineralisation in WT-21-25 and following up on the positive results in WT-21-39 about 50m to the south.
That this intersected the high-grade zone within a thicker 69.5m zone grading a still respectable 1.6% copper, 15.37g/t silver and 0.3g/t gold indicates that it had drilled through the Wave Zone.
Observations from the hole also support the current geological model for the Western Talon showing the Wave as a key feature in controlling alteration and mineralisation in the area.
Drilling at The Talon will continue to focus on the Western Talon with the goal of drilling the entire length of the Wave to a spacing suitable for the estimation of an Inferred resource.
After the conclusion of the resource upgrade program, the rig will then remain in the area to complete a small program designed to convert the existing Inferred resource to an Indicated resource after the next mineral resource update.
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.