Copper Mineralisation Encountered 100m From Previous Intersections
Eagle Mountain Mining Limited (ASX:EM2) has intersected a broad zone of copper mineralisation in an initial drill hole at the recently commenced drilling programme at the 80% owned Oracle Ridge Mine Project in Arizona, USA.
Significant assay results include: 15.1m @ 1.72% Cu, 16.87g/t Ag, 0.38g/t Au from 313.9m; including 3.45m @ 1.89% Cu, 15.97g/t Ag, 0.35g/t Au from 313.9m, and 8.41m @ 2.46% Cu, 25.09g/t Ag, 0.56g/t Au from 321.29m.
“This newly identified zone of broad copper mineralisation is more than 100m from the nearest significant assay in a sparsely drilled area,” Eagle Mountain Mining CEO, Tim Mason, said.
“This intercept is located in a skarn zone near the Leatherwood granite contact, much of which is untested at Oracle Ridge and remains prospective for further mineralisation.
“This is an exciting discovery that certainly reinforces the exploration potential at Oracle Ridge and the importance of the Leatherwood intrusive.
“Follow up drilling around this zone is in progress with sulphide mineralisation observed in drilling completed down dip. Interestingly, the gold grade from this 15m intercept is approximately double that of the current mineral resource estimate.
“Drilling remains ongoing at Oracle Ridge and we look forward to updating the market with further assay results in the coming weeks.”
WT-20-05 was the first hole testing the potential of the southern area at Oracle Ridge. A significant zone of 15.1m @ 1.72% Cu, 16.87g/t Ag, 0.38g/t Au from 313.9m was intersected within a magnetite-rich skarn zone just above the Leatherwood-Sediments contact. Two higher grade intervals are contained within this broader zone including 8.41m @ 2.46% Cu, 25.09g/t Ag, 0.56g/t Au from 321.29m and above this higher grade zone, 3.45m @ 1.89% Cu, 15.97g/t Ag, 0.35g/t Au from 313.9m.
Mr Masson said this result confirms the prospectivity of the Leatherwood-Sediments contact to host significant skarn-hosted copper mineralisation as already demonstrated by historical holes drilled by previous owners such as C-115 and C-113.
To validate this hypothesis two additional holes have been drilled with a third hole in progress:
• Drill hole WT-20-10 was designed to test the Leatherwood-Sediments contact approximately 40m to the north east of WT-20-05. This drill hole intersected skarn alteration with zones of copper mineralisation at the contact. Detailed logging is pending at the time of this report.
Drill holes WT-20-11 and WT-20-12 were designed to test the south-western extension of the intersection in WT-20-05. Detailed logging is pending at the time of this report.