Join our daily newsletter At The Bell to receive exclusive market insights
- Eagle Mountain Mining (EM2) launches a drilling program at its Oracle Ridge copper project in Arizona, US
- The program began in mid-January following an initial refurbishment of the underground mine, with contractors Boart Longyear to drill thirteen stations
- Eagle says drilling from underground is expected to be “far more efficient” than from surface thanks to shorter hole lengths and lower impact from weather events
- The news follows the appointment of Bob Jacko as Studies Manager to help progress the project towards economic studies later in the year
- Eagle Mountain Mining shares are trading at 23.5 cents at 10:22 am AEDT
Drilling is now underway at Eagle Mountain Mining’s (EM2) Oracle Ridge copper project in Arizona, US.
The drilling began in mid-January following an initial refurbishment of the underground mine.
Contractors Boart Longyear have been appointed to drill thirteen stations that were established to allow metallurgical drilling to occur from within the mine. Eagle said drilling from underground was expected to be “far more efficient” than drilling from surface thanks to shorter hole lengths and lower impact from weather events.
“It is unique to access in-situ mineralisation compared to drill core, and we are committed to making the most of this significant advantage,” Eagle Mountain Mining CEO Tim Mason said.
“Drilling from underground is a game changer for the project due to improved efficiencies with shorter hole lengths and less impact due to inclement weather.”
The first drill station will see 17 holes drilled with an aim to upgrade the existing ‘indicated’ and ‘inferred’ resources to the ‘measured’ and ‘indicated’ categories.
As such, the surface rig is currently on hold until access for further targets is established.
“The program is focused on those mine areas where production is expected to occur in the first five years of the potential mine life,” Mr Mason explained.
Meanwhile, Eagle Mountain has also begun an underground wall sampling program to target a large exposure of copper mineralisation in the underground workings in a bid to generate high-quality underground geological maps.
The program is expected to span several months, with the results to be used to better understand small-scale grade variability and define areas suitable for further metallurgical work.
Today’s news follows the appointment of Bob Jacko as Studies Manager. In the new role, he will support the company in supervising and coordinating ongoing technical and permitting activities to progress the project towards economic studies later in the year.
The company said its metallurgical, environmental, and permitting activities would continue, with material results to be reported as they become available.
Eagle Mountain Mining shares were trading at 23.5 cents at 10:22 am AEDT.
