Perth, Australia – 1 October 2024 | Eagle Mountain Mining Limited (ASX:EM2) (“Eagle Mountain” or “the Company”) is pleased to announce that new geophysical modelling at the Silver Mountain Project in Arizona has shown further enhanced the potential for copper porphyry mineralisation. The Company has commenced detailed planning to test high-priority near-surface and deep porphyry targets identified by the latest magnetic vector inversion (MVI) model.
Highlights:
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New Geophysical Data: The magnetic inversion model has revealed large porphyry-style targets at Silver Mountain, showing strong similarities to other world-class porphyry copper deposits such as Collahuasi in Chile and Cananea in Mexico.
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Deeper Porphyry Targets: The MVI model, combined with seismic velocity data, identifies two high-priority porphyry-style targets up to 1.5km below surface, supported by decreased magnetic responses associated with mineralised porphyry systems.
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Drill Planning Underway: The Company is now progressing detailed drill planning, including drill permit applications and contractor tendering, with a focus on testing both near-surface high-grade breccias and deeper porphyry targets.
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Additional Geophysical Targets: Alongside the primary targets, multiple new geophysical anomalies across the project area suggest further exploration potential, reinforcing the project's large-scale porphyry-hydrothermal system.
Tim Mason, CEO of Eagle Mountain, commented: “We are thrilled to announce that detailed drill planning is currently underway to test the highly prospective targets identified from recent geophysical modelling that has significantly enhanced the potential of our porphyry-style targets at Silver Mountain. These promising areas are characterised by elevated velocity and lowered magnetic response, similar to those found at other world-class porphyry deposits. These geophysical indicators, combined with mapped and sampled surface high-grade copper, silver and gold mineralisation, suggest the possibility of a large-scale porphyry-hydrothermal system at Silver Mountain.”
Geophysical Model and Exploration Update:
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The MVI model reprocessed existing magnetic data, revealing spatial associations between high-velocity seismic data and lowered magnetic responses, a characteristic feature of mineralised porphyry systems.
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The geophysical results highlight two key porphyry targets within the Scarlett area, demonstrating geological similarities to some of the largest porphyry deposits in the world.
Next Steps:
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Eagle Mountain is finalising its drill plans to test both near-surface and deep porphyry targets at Silver Mountain.
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The Company will continue refining exploration targets as additional geophysical data is processed, further enhancing the potential for a major copper discovery.
Tim Mason
Chief Executive Officer
tim@eaglemountain.com.au
Jane Morgan
Investor and Media Relations
jm@janemorganmanagement.com.au
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.
Follow the Company’s developments through our website and social media channels.
Contact details:
Jane Morgan
Investor and Media Relations
jm@janemorganmanagement.com.au