Perth, Australia – 31 July 2024 | Eagle Mountain Mining Limited (ASX: EM2) ("Eagle Mountain" or "the Company") is pleased to announce significant high-grade assay results from recent fieldwork at its 100% owned Silver Mountain Project ("Silver Mountain" or "the Project") in Arizona, USA. The results underscore the project's potential for porphyry and porphyry-related mineralisation.
Highlights:
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High-Grade Assay Results:
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64 g/t Au, 445 g/t Ag, and 15% Pb over a 0.5m vein
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30.4 g/t Au over a 0.2m breccia zone
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11.65 g/t Au, 67 g/t Ag, and 3% Pb from a grab sample
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7.46 g/t Au and 181 g/t Ag from a grab sample
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Porphyry Potential: New mapping and sampling indicate high-grade zones with phyllic alteration and prospective structural orientations, suggesting a buried porphyry system.
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Strategic Location: High-grade assay samples span over a kilometre-long trend connecting historical mines, with mineralisation open along strike and at depth.
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Supporting Data: Elevated uranium, thorium, and rare earth elements were also identified, supporting potential for a U/Th/REE system at depth, with results including:
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567ppm U3O8 and 2,276ppm ThO2
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2,024ppm total rare earth oxides
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CEO Comments: Tim Mason, CEO of Eagle Mountain Mining, stated:
“We are excited to be discovering a stable of high-quality targets within this underexplored, world-class mining jurisdiction. These targets are supported by the discovery of high-grade gold and silver-rich zones along significant geological trends, including one stretching well over 1km between historic mines. Sampling and mapping results suggest the high-grade features could be porphyry related mineralisation. These exceptional results complement our previously identified porphyry indicators. New outcrops of porphyry alteration have been identified, adding to all the other indicators of a porphyry system under cover."
Silver Mountain is located on the Laramide Arc, a northwest-southeast trending geological feature containing world-class porphyry copper mines such as Bagdad, Miami, and Resolution in Arizona. It also lies on the southern extension of a northeast-southwest prospective metallogenic belt that hosts the United Verde and Iron King volcanogenic massive sulphide (VMS) historical mines.
A recently completed field program identified high-grade features such as mineralised quartz veins and breccias, as well as further porphyry alteration. The alteration supports the previously defined porphyry targets following the recent seismic survey.
Next Steps for Eagle Mountain:
Further fieldwork is underway to establish the extent of mineralisation, alteration, and structural extents. Future work will focus on structures interpreted to impact mineralisation, such as the Silver Dollar-Gold Hill and Colossal trends, as well as the Breakaway, Rylan, and Gold Note faults. A soil sampling program is planned to help establish the lateral extent of alteration zones. Additional geophysical processing will create inversion models for the magnetics data.
Tim Mason
Chief Executive Officer
Email: tim@eaglemountain.com.au
Mark Pitts
Company Secretary
Email: mark@eaglemountain.com.au
About us:
About Eagle Mountain Mining Ltd:
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
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au