Eagle Mountain Mining Limited (ASX: EM2),"Eagle Mountain" or "the Company", is thrilled to provide shareholders with an update on its wholly-owned Oracle Ridge Copper Mine Project (Oracle Ridge) located in Arizona, USA.
Impressive Grades and Widths Discovered: The underground channel sampling at Oracle Ridge has yielded the strongest grades and widths to date.
Consistent High-Value Results: The recent results, sourced from the mine’s highest level, sustain the consistent and promising outcomes earlier reported for the two lower levels.
Notable Assay Results: The latest channel sample assay outcomes include:
- 15.3m at 4.02% Cu, 18.71g/t Ag, and 0.14g/t Au (Reference: 6550-NW-004)
- 19.2m at 3.32% Cu, 37.66g/t Ag, and 0.31g/t Au (Reference: 6550-NW-011)
- 35.7m at 2.60% Cu, 14.86g/t Ag, and 0.08g/t Au (Reference: 6550-NW-005)
Anticipated Resource Estimate: Incorporation of these new results into the New Mineral Resource Estimate is in progress, with a release expected in Q4.
Details on Underground Channel Sampling:
Eagle Mountain is excited to report the receipt of assays for 201 samples from 12 underground channels, specifically situated on the 6550 level in the North-West mine area. Significantly, these channels have produced the most robust outcomes in terms of average grade and width, especially when compared with prior channel samples from the lower 6500 and 6400 levels. Intercepts originating from the 6550 level are distinguished by their impressive width and high-grade nature, with the majority of channels presenting mineralisation throughout their entire length.
Commenting on the underground work, Eagle Mountain Mining’s CEO, Tim Mason, said:
”It is fantastic to see that Eagle Mountain’s third set of channel sampling results are the strongest to date in terms of average grade and width. These great results support the updated resource model, with the sampling programs providing increases to the higher-grade portions of the resource.
The new results and the positive surface and underground drilling completed since October 2022 will be incorporated in the upcoming resource update.
Eagle Mountain’s successful exploration program has significantly increased knowledge of the resource and has provided substantial optionality for future mining and processing scenarios at Oracle Ridge, which will allow us to optimise its development and maximise value.”
Eagle Mountain is a copper-gold explorer focused on the strategic exploration and development of the Oracle Ridge Copper Mine and the highly prospective greenfields Silver Mountain Project, both located in Arizona, USA. Arizona is at the heart of America’s mining industry and home to some of the world’s largest copper discoveries such as Bagdad, Miami and Resolution, one of the largest undeveloped copper deposits in the world.