- Eagle Mountain Mining (EM2) has discovered high-grade breccia mineralisation at its majority-owned Oracle Ridge Mine Project in Arizona
- According to MD, Charlie Bass, deposits like this don’t necessarily have the greatest tonnes but carry the best copper grades which shows potential for a deeper copper-rich system
- Assays peaked at 9.14 per cent copper, 52.5g/t silver and 0.89g/t gold
- Following the positive results, the company has extended drilling to at least March next year
- Eagle Mountain Mining’s shares gained 17.7 per cent and closed at 36.5 cents at market close
Eagle Mountain Mining (EM2) has received more assay results from drilling at its 80 per cent-owned Oracle Ridge Mine Project in Arizona, U.S.
Pleasingly, one hole intersected 6.67 per cent copper, 63.5g/t silver and 0.87g/t gold in 2.95 metres of breccia. This hole also resulted in 3.57 metres at 2.18 per cent copper, 19.49g/t silver and 0.89g/t gold from 245.43 metres.
“I am extremely encouraged by discovering these breccia zones. In most deposits, they often carry the best copper grades, but not necessarily the greatest tonnes, and then are followed by the skarns which are fed by these breccias and other structures,” Managing Director Charlie Bass said.
The breccia zones also showed potential for a deeper copper-rich system.
“The discovery of the high-grade breccia zones is significant as they not only
contain high-grade copper, but also have potential to support a broader mineralised system,” CEO Tim Mason said.
Further positive results came from hole WT-20-11 which tested the western extension of mineralisation at the Leatherwood-sediments contact.
A thick zone of high-grade mineralisation was intersected with results including 2.8 per cent copper, 18.75g/t silver and 0.61g/t gold over 8.4 metres and 1.35 metres at 9.14 per cent copper, 52.5g/t silver and 0.69g/t gold from 275.23 metres.
Drilling also interested a wide zone of copper mineralisation near and within the Leatherwood granite intrusive in hole WT-20-10, with assays pending.
“This is discovery is a milestone for the company as the next step to become a low-cost copper producer,” Tim added.
Due to the positive findings, the company has decided to extend drilling to at least March next year.
Eagle Mountain Mining’s shares gained 17.7 per cent and closed at 36.5 cents at market close.