Eagle Mountain Mining Limited (ASX: EM2), copper-gold explorer, is excited to share an update on its wholly owned Silver Mountain Project located in Arizona, USA. This announcement comes amid ongoing work at the Oracle Ridge Copper Project, highlighting the company's commitment to exploring and advancing its portfolio of assets.
The Silver Mountain Project, known for its untapped potential, has recently been the focus of renewed exploration efforts. Following up on previously identified uranium occurrences, Eagle Mountain's dedicated field team has conducted a comprehensive mapping and sampling program. This initiative has led to the discovery of altered pegmatites and other granitic rocks exhibiting significant spectrometer radioactivity, indicating the presence of uranium and potentially rare earth elements.
Dr. Linus Keating, a consulting geologist working with Eagle Mountain, emphasized the significance of these findings in his latest report. He stated, “The Silver Dollar radiogenic pegmatite is an important, and unique, occurrence for Arizona and should be followed up thoroughly. A unique uranium-rare earth deposit could be present.”
Key Highlights from the Silver Mountain Project:
- Discovery of several uranium anomalies with elevated thorium levels in radiogenic pegmatites.
- Extensive mapping of pegmatites in the Scarlett area, located in the northwestern part of Silver Mountain.
- Identification of a prominent anomaly within a granitic intrusion characterized by magmatic-style breccia.
- Previous fieldwork yielded eight surface samples with uranium assays exceeding four times the levels considered anomalous.
- Mapping indicates the radioactive mineralization source is an unusual intrusive rock, suggesting a unique geological setting adjacent to a regional-scale fault system.
Commenting on the new field work and next steps, Eagle Mountain Mining’s Managing Director, Charlie Bass, said: “Well before my private company’s assets were vended into the newly formed Eagle Mountain Mining Limited, my consultant Dr Linus Keating mapped and sampled the Silver Dollar area of the Scarlett region at Silver Mountain. He came across some unusual coarse-grained pegmatite dykes that were elevated in uranium and thorium. At the time, we were focussed on copper, gold and silver mineralisation and did not pay much attention to this. As a result of the recent field work, we now recognise the potential significance of previous observations, particularly given uranium can be associated with monzonite and pegmatite, as mapped by Dr Keating in nearby areas.
The United States Department of Energy’s website lists uranium as a Near Critical mineral with High Importance to energy now and well into the future (“www.energy.gov/cmm/what-are-the-critical-materialsand-critical -minerals”). As such, we will now revisit the uranium potential at the Scarlett Project.
With the recent pause in exploration, sampling and mapping at Oracle Ridge, our geology team has had a close look at the previous work conducted at the Scarlett Project and has developed a new model focussed on the unique radioactive pegmatites and granites.”
Eagle Mountain Mining Limited remains dedicated to responsible exploration and development, with a focus on creating value for its shareholders and contributing positively to the communities in which it operates.
About us:
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.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
