Initial Drilling At Oracle Ridge Right On Target
Eagle Mountain Mining Limited (ASX:EM2) has received high grade assays from initial drilling at the company’s 80% owned Oracle Ridge Mine Project in Arizona, USA.
CEO, Tim Mason, said Eagle Mountain’s intends to build a low-cost mining operation, which involves increasing the resource base both within the current mine area and in the near-mine vicinity.
A surface diamond drilling programme commenced at Oracle Ridge in early September 2020, designed primarily to target extensions of the high-grade portions of the existing NI43-101 Minerals Resources Estimate (MRE).
Significant high-grade intersections include: 4.56m at 5.28% Cu, 50.7 g/t Ag and 0.77g/t Au from 184m, including; 0.93m at 13.05% Cu, 127g/t Ag and 0.32g/t Au; 1.34m @ 6.7% Cu, 2.24 g/t Au, 62.5 g/t Ag,
Mr Mason said all intercepts occurred outside the existing Mineral Resource Estimate, which demonstrate the continuation of the high-grade mineralisation.
“This is an excellent start to our drill programme at Oracle Ridge, which targeted zones outside the existing Mineral Resource Estimate (MRE). The intercept of 4.56m at 5.28% Cu, 50.7 g/t Ag and 0.77g/t Au, including 0.93m at 13.05% copper and 127g/t silver is outstanding,” Mr Mason said.
“The mineralisation in this zone is unconstrained for approximately 100m to the east, with follow up drilling planned to test extensions in this area.
“Importantly, hole WT-20-03 intercepted three separate zones of mineralisation outside the existing MRE. Intercepts are located more than 60m from the nearest mineralisation, therefore adding merit to the discovery of a new zone in this area.
“Following delays from the busy assay laboratories, we are now beginning to see assay results coming through, and to date we have successfully drilled seven holes to their target depth, with assay results from previously drilled holes expected to be steadily received over the coming weeks.
“Our goal is to build on the significant high-grade copper MRE, to support a potential future mining operation, with these assay results reinforcing our view that there is significant mineralisation outside the existing MRE at the Project. The drilling program has been extended to the end of CY2020, and we look forward to updating the market with further results over the coming months.”
