Nedlands, WA - April 29, 2024 - Eagle Mountain Mining Limited (ASX: EM2), a prominent player in the copper and gold exploration sector, is thrilled to announce the initiation of a groundbreaking large-scale mineral deposit exploration at its wholly-owned Silver Mountain Project in Arizona, USA. This ambitious exploration endeavor, set to start in May 2024, targets extensive mineralized systems potentially rich in gold, silver, copper, uranium, thorium, and other metals.
Exploration Highlights:
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Advanced Geophysical Survey: A sophisticated 3D seismic survey employing passive Ambient Noise Tomography (ANT) technology is scheduled, focusing on the project's western sector known for its rich mineralization and prospective geological structures.
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High-Grade Mineral Occurrences: Initial findings reveal high-grade mineralization, with gold assays as high as 86.1g/t and silver assays up to 921g/t. These findings are significant indicators of the potential large mineral systems beneath the surface.
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Environmental Considerations: In collaboration with Fleet Space Technologies, the survey will utilize a low-impact, satellite-based method that minimizes environmental disruption while providing deep subsurface imaging.
Strategic Importance of the Silver Mountain Project:
The Silver Mountain area is geologically aligned with major porphyry systems and is part of the NW-SE striking Laramide Arc, a trend known for hosting significant copper deposits like the nearby Bagdad and Miami mines. The project's location and the detected geological features suggest a robust mineralizing system possibly associated with porphyry, IOCG (Iron Oxide Copper Gold), and VMS (Volcanogenic Massive Sulphide) deposits.
Commenting on the planned survey, Eagle Mountain Mining’s CEO, Tim Mason, said:
“Our recent discoveries at Silver Mountain are highly encouraging, indicating significant potential for a large mineralised system and we are pushing ahead with further exploration works. Field mapping, sampling and limited drilling across the extensive 6 kilometre north-south zone in western Silver Mountain has revealed favourable structural features typical of large porphyry systems. Additionally, the discovery of uranium/thorium-rich dykes strengthens the possibility of a substantial mineral deposit distal to known surface mineralisation in veins and dykes.
We're pleased to announce a collaboration with Fleet Space Technologies for a passive seismic geophysical survey at Silver Mountain. Their proven technology, with over 250 successful surveys for numerous companies, will be instrumental in enhancing our understanding of the project's geology. Silver Mountain boasts multiple areas of outcropping high-grade mineralisation, but the source remains unclear. The survey is designed to model up to two kilometres in depth, well below the paleosol and tertiary volcanic cover.
The resulting 3D seismic model along with previous geophysical surveys and structural interpretation should present an exciting opportunity to delineate targets for future drilling programs.“
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
