Join our daily newsletter At The Bell to receive exclusive market insights
- Drilling at Eagle Mountain Mining’s (EM2) Oracle Ridge project intersects thick, high-grade copper
- Results include 15 metres at 4.1 per cent copper and the company says the latest results are some of the best drilling results ever received from the project
- Eagle Mountain Mining plans to incorporate the results into an upcoming mineral resource upgrade expected to be released before the end of the current quarter
- Company shares are up 0.8 per cent to trade at 63 cents
Eagle Mountain Mining (EM2) has received more assay results from drilling at its 100 per cent-owned Oracle Ridge project in Arizona, US.
Results from hole WT-21-51 intersected three high-grade zones within a thick mineralised zone.
Assays include 46.7 metres at 2.16 per cent copper, 19.55 grams of silver per tonne (g/t) and 0.27g/t gold including 15.3 metres at 4.1 per cent copper, 37.01g/t silver and 0.53g/t gold and 6.3 metres at 7.15 per cent copper, 67.14g/t silver and 1g/t gold
The company said these are some of the best drilling results ever received from Oracle Ridge.
“The assays from hole WT-21-51 are some of the best results that we have encountered at Oracle Ridge, with copper and gold grades significantly better than the surrounding holes,” CEO Tim Mason said.
The high-grade assays are reportedly associated with veins carrying copper sulphides and overprinting the more typical skarn-hosted mineralisation.
“This different style of mineralisation is unusual at Oracle Ridge, and we are working towards unravelling its significance in controlling high-grade mineralisation and spatial continuity. It is opportunities like this that continue to excite us!”
Hole WT-21-51 was drilled in the northwest of the mine area as part of the resource upgrade drilling program, designed to validate historical drilling and increase confidence in the historical data.
Three rigs are continuing drilling at Oracle Ridge, focusing on the Talon to the south and extensions to the known resource in the north.
Eagle Mountain Mining will incorporate the results into the upcoming mineral resource estimate, which is on track for completion before the end of the March quarter.
Company shares were up 0.8 per cent to trade at 63 cents at 3 pm AEDT.
