Skip to content
Business Company News, Oil Mining Resources

Eagle Mountain Mining Ltd (ASX:EM2) – Copper Porphyry-Style Targets Confirmed at Silver Mountain

Jane Morgan Management 3 mins read

Perth, Australia – 9 July 2024 | Eagle Mountain Mining Limited (ASX: EM2) is pleased to announce the identification of significant copper porphyry-style targets at its 100% owned Silver Mountain Project in Arizona, USA. These findings, derived from a recent 3D seismic survey, represent a major advancement in the exploration potential of this project.

Key Highlights:

  • Porphyry-Style Targets: Large high-priority porphyry-style targets have been defined beneath tertiary cover, with a modelled strike length of approximately 2 kilometres and a depth to the top of targets from about 300 metres.

  • 3D Seismic Survey Success: The 3D seismic survey, completed using Fleet Space’s ExoSphere solution, has identified these targets, supported by previous aeromagnetic and gravity surveys.

  • Geological Correlation: The structural setting and surface mapping of Silver Mountain align with other major porphyry deposits in Arizona, enhancing the project's exploration strategy.

  • Strategic Review at Oracle Ridge: Following unsolicited market approaches, Argonaut PCF has been appointed to conduct a strategic review of the Oracle Ridge project to maximize shareholder value.

Tim Mason, CEO of Eagle Mountain Mining, stated:
“The recent 3D seismic survey at our Silver Mountain Project has been a resounding success, significantly enhancing our geological understanding and propelling the project to a top priority for exploration activities. 

While historical indicators suggested the potential for large mineralised systems at Silver Mountain, younger rock cover hampered our ability to pinpoint deeper targets. The new seismic data has effectively unlocked this geological potential. 

These new findings highlight an unexplored, western target zone, well beyond the past exploration efforts that were focussed on the eastern volcanogenic massive sulphide horizon. Extensive mapping has identified encouraging alteration zones along with structures that may have acted as pathways for mineralised fluids originating from a large, buried, heat source and showing themselves as the extensive copper, gold and silver surface occurrences. 

Propyllitic alteration, found on the outer edges of porphyry deposits, was found at the bottom of previously drilled diamond holes in the area. These holes were terminated about 100 metres above one of the porphyry-style targets. 

The Silver Mountain property is exceeding expectations and has solidified its place in our exploration strategy moving forward.”

Project Overview:

  • Silver Mountain Project: Located northwest of Phoenix on the Laramide Arc, the project is positioned among world-class porphyry copper mines such as Bagdad, Miami, and Resolution. It lies on a prospective metallogenic belt that hosts high-grade historical mines like United Verde and Iron King.

  • Geophysical Support: The identified porphyry-style alteration zones and their correlation with previously developed geophysical datasets, including magnetics and gravity, provide robust targets for further exploration.

Next Steps:

  • Geophysical Data Enhancement: Existing magnetic and gravity data will be reprocessed to refine the depth and cause of anomalies, aiding target definition.

  • Geochemical Analysis: Pending assays from a suite of prospective samples, including those from precious/base metal veins, pegmatites, breccias, and gossans, will help identify areas with anomalous metal concentrations.

  • Age Dating and Petrographic Analysis: Planned to establish a chronological framework and identify key minerals, aiding in vectoring towards the source of the interpreted porphyry alteration system.

  • Geological Mapping: Ongoing detailed mapping and sampling of porphyry-style alteration and high-grade veining will be evaluated for potential connections to the porphyry heat source.

Strategic Review Process:

  • Oracle Ridge Project: In response to recent interest, the Company has initiated a strategic review of the Oracle Ridge Project, led by Argonaut PCF. The review aims to explore all options to maximize shareholder value while continuing the Scoping Study, which is due for completion in Q4 2024


About us:

About Eagle Mountain Mining Limited:
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.

For more information, visit Eagle Mountain Mining.


Contact details:

Jane Morgan 
Investor and Media Relations 
+61 405 555 618
jm@janemorganmanagement.com.au 

Media

More from this category

  • Business Company News, Oil Mining Resources
  • 16/07/2024
  • 10:44
Jane Morgan Management

Victory Metals Ltd (ASX:VTM) Confirms Largest Australian Indicated Heavy Rare Earth Element Resource

Perth, Australia - 16 July 2024 | Victory Metals Limited (ASX: VTM) is pleased to announce a significant milestone with the updated Mineral Resource Estimate (MRE) for its North Stanmore Heavy Rare Earth Elements (HREE) dominant Project, confirming it as the largest Indicated Mineral Resource of Australian HREE-dominant deposits. Key Highlights: Total Updated MRE: 235Mt, with 149Mt (63%) in the indicated category. Contained Indicated MRE: 79,200t of Total Rare Earth Oxides (TREO) and 28,000t of Heavy Rare Earth Oxides (HREO). Contained Indicated MRE Dy2O3 + Tb4O7: 3,010t. Near Surface High-Grade Domain: 45.9Mt at 1,050ppm TREO, supporting a rapid development strategy…

  • Contains:
  • Business Company News, Oil Mining Resources
  • 16/07/2024
  • 10:32
Jane Morgan Management

Intra Energy Corporation Ltd (ASX:IEC) Commences Track and Drill Pad Preparation at Maggie Hays Hill Project

Sydney, Australia – 16 July 2024 |Intra Energy Corporation Limited (ASX: IEC)is pleased to announce that track and drill pad preparation is underway at its high-priority Maggie Hays Hill ("MHH") Project in the Lake Johnston Greenstone Belt. This preparation marks the beginning of a comprehensive 2,000-metre RC drilling program set to commence in the coming weeks. Key Highlights: Preparation Underway: Track and drill pad preparation has begun at the MHH Project, focusing on the southern pegmatite lithium target and multiple gold targets across the project. Drilling Program: A 2,000-metre RC drilling program will start soon, expected to take 14-20 days.…

  • Contains:
  • Business Company News, Women
  • 16/07/2024
  • 08:47
Collective-Inspiring Women in Business

Collective brings national networking event to Parramatta

Dr. Catherine Kizana, Founder of ABC Parenting and esteemed Parenting Coach, will speak at a national networking event for businesswomen in Parramatta later this…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.