- Eagle Mountain Mining (EM2) receives results from a further five holes at its Oracle Ridge Mine Project in Arizona
- Ongoing drilling aims to verify the quality and reliability of historical drilling programs
- Work has shown the average gold grade appears to be moderately higher in the new holes than in the historical ones
- Grades peaked at 3.12 per cent copper, 27.83 grams of silver per tonne (g/t) and 0.51g/t gold, with further holes planned to assess potential for thicker mineralised zones
- Shares in Eagle Mountain are up 3.77 per cent on the market and are trading at 82.5 cents at 11:03 am AEST
Eagle Mountain Mining (EM2) has received results from a further five holes at its Oracle Ridge Mine Project in Arizona.
Ongoing drilling is aiming to verify the quality and reliability of historical drilling programs.
Work has shown a good comparison between the recent and historical holes while the average gold grade appears to be moderately higher in the new holes than in the historical ones.
Best results come from hole WT-21-24 which returned a result of 18.4 metres at 3.12 per cent copper, 27.83 grams of silver per tonne (g/t) and 0.51g/t gold.
Other results include 106 metres at 1.15 per cent copper, 11.73g/t silver and 0.16g/t gold; and 47.3 metres at one per cent copper, 13.25g/t silver and 0.13g/t gold.
Eagle Mountain believes these results indicate sufficient confidence to allow measured resources to be defined in the next mineral resource estimate update.
Assays are pending for a further 18 holes and are expected to be reported on in due course.
Furthermore, additional resource upgrade holes are being planned to assess the potential for thicker zones of mineralisation.
CEO Tim Mason is pleased with the results as he believes they have the potential to provide a significant opportunity for mining.
“These very thick zones of mineralisation have the potential to provide significant optionality for mining. We have now completed five infill holes, all of which have similar thick zones of mineralisation, suggesting that this may not be an anomaly,” Mr Mason said.
“These results surprised us because many of these mineralised zones were not visually obvious in the core and hence they were probably not assayed by previous owners.”
Shares in Eagle Mountain were up 3.77 per cent on the market and were trading at 82.5 cents at 11:03 am AEST.