Eagle Mountain Mining Limited (ASX: EM2), an ASX listed copper-gold explorer, is thrilled to announce significant findings of uranium, thorium, and rare earth elements at its 100% owned Silver Mountain Project in Arizona, USA. These discoveries mark a significant milestone in the exploration of the project, showcasing high potential for the presence of valuable mineral deposits.
Recent fieldwork at Silver Mountain has yielded remarkable results, including spot pXRF values of 2,170ppm U3O8 and 23,114ppm ThO2 within unique minerals found in silica veining of pegmatites. Additionally, assays from outcropping pegmatites at Silver Dollar have reported up to 387ppm U3O8 and 493ppm ThO2. These high uranium and thorium values are closely associated with hydrothermal alteration and quartz veining, indicating a robust mineralization process at work.
Interestingly, while elevated levels of U3O8 and ThO2 were detected within pegmatites, geological interpretations suggest that the pegmatites are not the primary source of mineralization. This revelation points to the potential for deeper high-grade mineralization, supported by local and regional scale structural controls. The project's mineralization model is currently advancing through detailed full elemental analysis and mineral identification.
The assays also revealed anomalous concentrations of rare earth elements, averaging 205ppm total rare earth elements, with 48% of that comprising heavy rare earth oxides. These elements are spatially associated with uranium and thorium, a characteristic common to many uranium-rare earth element deposits worldwide. This association, along with strong indications of a widespread heat engine, such as a buried porphyritic intrusion, suggests a significant exploration target.
Eagle Mountain Mining's CEO, Tim Mason, expressed his enthusiasm about the findings: “It is exciting to see our first Silver Mountain assays in over four years, particularly given they support our recent field work that indicates a new geological system supported by elevated uranium, thorium and rare earth elements. With observed similarities between field samples and new mapping across the Silver Dollar and Scarlett areas, we are eagerly following up with additional work to help establish what could be a significant exploration target for Eagle Mountain Mining.”
Dr. Linus Keating, the Company’s consulting geologist, highlighted the potential underlying mechanisms contributing to these discoveries: “The possibility that a ‘heat engine’ – perhaps a porphyritic intrusion – may lie beneath Silver Mountain. Evidence to support this possibility includes the peripheral precious metal - sericite veins at Scarlett; the increasing chloritic alteration encountered in drill holes 014, 015, and 016; and the lack of strong overprinted chlorite to the south; an appearance that drilling deeper into the Pacific Horizon … encounters more breccias and alteration may be suggesting up-dip fluid flow from a porphyritic source ...”
These groundbreaking discoveries at the Silver Mountain Project underscore Eagle Mountain Mining's commitment to exploring and developing valuable mineral resources. The company looks forward to further exploration and the potential it holds for the future of mining in Arizona.
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. 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.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au