- Eagle Mountain Mining (EM2) gets pleasing results from drilling at the Oracle Ridge Mine Project in Arizona
- Mineralisation in the Eastern Talon zone extended by 45 metres to the south, and remains open to the south and east, with some potential for the west
- Drilling at Western Talon confirms three broad zones of alteration with prospectivity increasing to the south
- In addition, EM2 is infill drilling the resource area and results from the second hole supports the existing JORC model
- Company shares are up 8.78 per cent to trade at 80.5 cents at 3:09 pm AEST
Eagle Mountain Mining (EM2) has received assays from five holes drilled at the Oracle Ridge Mine Project in Arizona.
The results include two holes from the Eastern Talon Zone, two from the Western Talon Zone and the fifth hole was completed within the resource upgrade program for the project.
Eastern Talon
Drilling at Eastern Talon has extended mineralisation by a further 45 metres to the south.
Best results include 13 metres at 1.68 per cent copper, 13.84 grams of silver per tonne (g/t) and 0.35g/t gold in hole WT-21-23. Best results from the other hole include 2.1 metres at 4.3 per cent copper, 38.2g/t silver and 0.29g/t gold within a 14.1-metre mineralised zone.
EM2 said these results suggested the contact mineralisation remained open to the south and east, with some potential for the west. The company has already planned to drill follow-up holes.
Western Talon
Drilling at Western Talon confirmed three broad zones of alteration with prospectivity increasing to the south and multiple assays are pending.
Of the two holes reported today, results include 2.5 metres at 2.36 per cent copper, 19.2g/t silver and 0.75g/t gold, and 1.9 metres at 1.59 per cent copper, 13g/t silver and 0.51g/t gold.
Drilling is ongoing in this area to identify the areas with the most potential.
CEO, Tim Mason, was pleased with the results.
“At the Western Talon, drilling intercepted multiple zones of broad alteration which shows that extensive amounts of fluids have travelled through this area and we are currently targeting the sweet spots within this large system,” Mr Mason said.
Additional hole
Drill hole WT-21-20 is the second hole completed within the resource upgrade program to classify measured resources for the Oracle Ridge Mine Project.
The hole returned pleasing results including 17.5 metres at 1.8 per cent copper, 15.38g/t silver and 0.27g/t gold from 44 metres including 6.8 metres at 2.6 per cent copper, 22.24g/t silver and 0.43g/t gold from 54.7 metres.
“Finally, results from our second infill resource hole, which aims to enable measured resources to be defined, strongly supports the existing JORC model,” Mr Mason said.
“Drilling is ongoing with two rigs focusing on resource expansion drilling while the third rig is targeting prospective alteration areas at Golden Eagle, two kilometres to the east of the mine portals.”
The company is waiting on results from a further 15 drill holes.
Company shares are up 8.78 per cent to trade at 80.5 cents at 3:09 pm AEST.