- Eagle Mountain Mining (EM2) confirms ongoing drilling success at its 100 per cent owned Oracle Ridge Copper Mine project in Arizona, US
- Assays from 22 new drill holes delivered strong results at the Talon and mid-mine areas as they showed resource extension and upgrade potential
- Best results include 60.7 metres at 1.56 per cent copper, 14.15g/t silver and 0.32g/t gold including 14.6 metres at 2.83 per cent copper, 27.54g/t silver and 0.51g/t gold at WT-22-99
- CEO Tim Mason says the assays support EM2’s thesis that Oracle Ridge has the potential to be a copper project of significance in the US
- Company shares are down 2.25 per cent, trading at 43.5 cents as of 1:30 pm AEST
Eagle Mountain Mining (EM2) has confirmed ongoing drilling success at its 100 per cent owned Oracle Ridge Copper Mine project in Arizona, US.
The company released results from 22 new holes drilled, delivering strong results at the Talon and mid-mine areas showing resource extension and upgrade potential.
Best results included 60.7 metres at 1.56 per cent copper, 14.15 grams per tonne (g/t) silver and 0.32 g/t gold including 14.6 metres at 2.83 per cent copper, 27.54 g/t silver and 0.51 g/t gold at WT-22-99.
Results from WT-22-99 are expected to improve the tonnage and grade of the mineral resource in this area.
Commenting on the strong copper results, CEO Tim Mason said they support the company’s thesis that Oracle Ridge has the potential to be a significant copper project in the US.
“The company’s new geologic model, backed by over 100 new drill holes, is being used to refine the resource estimate and is driving new and successful high-value targets particularly in the southern Talon region.
“This area will be a key focus for exploration activities in the short term.”
The results also include five resource infill holes which were drilled at a nominal inferred spacing of 50 metres within the footprint of the recently updated mineral resource estimate at a one per cent copper cut-off grade.
These holes were designed to improve resource confidence as part of a program to upgrade resource categories.
Best results and key observations include 3.8 metres at 1.8 per cent copper, 27.63 g/t silver and 10.92 g/t gold at WT-21-76 and 10.6 metres at 2.63 per cent copper, 17.97 g/t silver and 0.39 g/t gold at WT-22-90.
The WT-21-76 gold intercept received at Talon showed potential for localised high-grade gold vein anomalies in the Leatherwood.
The exploration focus will remain on the Talon area which is underpinned by the company’s new geologic model supporting target definition.
Further, the company said only two out of the 22 new results recorded no significant intercepts.
Drilling from underground is scheduled to commence in the September quarter of 2022.
The average hole length of the underground holes is expected to be approximately half that from surface, which provided significant improvements in drilling efficiency.
EM2 was down 2.25 per cent, trading at 43.5 cents as of 1:30 pm AEST.