June Quarter Activities Report
Perth, July 26, 2022 AEST (ABN Newswire) - Eagle Mountain Mining Limited (
ASX:EM2) (EGMMF:OTCMKTS) is pleased to provide shareholders and investors with an exploration and operations overview to accompany the Appendix 5B for the quarter ending 30 June 2022 ("Quarter", "Reporting Period").
Highlights
o Strong drilling results continued throughout the Quarter at the Oracle Ridge Copper Project, with the aim of further building and upgrading mineral resources. Selected results include:
- 55.3m at 2.16% Cu, 17.15g/t Ag and 0.54g/t Au, 0.024% Mo
- 10.6m at 2.63% Cu, 17.97 g/t Ag and 0.39 g/t Au
- 6.2m at 3.19% Cu, 44.94g/t Ag and 0.61g/t Au
o Mineralisation extended to far eastern Talon with first holes intercepting
- 24.5m at 1.68% Cu, 14.68 g/t Ag and 0.34g/t Au
- 13.2m at 1.75% Cu, 14.51g/t Ag and 0.37g/t Au
o Commencement of the first large diameter drilling in the Talon area to collect samples for metallurgical testwork - necessary for future feasibility studies
o Preparations for the refurbishment of the underground mine well advanced to enable underground diamond drilling
o Record diamond drilling of 14,500 metres for 37 holes during the Quarter
o 37 holes pending assay results at the date of this announcement
o $1 million investment from Managing Director Charles Bass received demonstrating his strong and ongoing support for the Company
o Well-funded with $11.1 million in cash held at the end of the Quarter
Commenting on the results, CEO Tim Mason said:
"Our team continues to progress towards our goal of re-opening Oracle Ridge - an underground copper mine of significance in Arizona. We aim to add value by enhancing, building and upgrading our mineral resources, while progressing with necessary steps to re-open the underground mine. This Quarter continued to see drilling results, especially in the Talon which hosts the discovery of new mineralised zones.
The recommissioning of the underground mine will enable underground drilling which will be far more cost effective compared to surface drilling. The recommissioned mine will also allow a future drill drive to be mined and ultimately the ability to commence mining with modest pre-production mining costs."
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/E6855T2Z
About Eagle Mountain Mining Limited
Eagle Mountain Mining Limited (ASX:EM2) (OTCMKTS:EGMMF), is a copper-gold explorer focused on the strategic exploration and development of the Oracle Ridge Copper Mine and the highly prospective greenfield (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.
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