Oracle Ridge Copper Mine - Update
Perth, Aug 24, 2022 AEST (ABN Newswire) - Eagle Mountain Mining Limited (
ASX:EM2) (EGMMF:OTCMKTS) is pleased to provide an update on its 100% owned Oracle Ridge Copper Mine Project (Oracle Ridge, or the Project) in Arizona, USA.
Highlights
+ Resource development activities continue with expansion and infill drilling focussed on the Talon:
o Assay results for 22 holes received, including the following resource expansion holes:
- 12.5m at 2.08%Cu, 18.81g/t Ag and 0.33g/t Au (WT-22-88)
- 10.7m at 2.23% Cu, 19.62g/t Ag and 0.35g/t Au (WT-22-110)
- 9.2m at 2.20% Cu, 35.72g/t Ag and 0.45g/t Au (WT-22-140)
- 8m at 2.98% Cu, 27.46g/t Ag and 0.33g (WT-22-143)
o Updated Mineral Resource Estimate ongoing with the next update on schedule for the end of September 2022
o Mapping and sampling of historical mines adjacent to Oracle Ridge underway to refine the local geology model, aid the Mineral Resource Estimate (MRE) and identify new drill targets
+ Project development activities are progressing at an accelerated pace:
o Underground refurbishment:
- Mining contractor engaged and currently on site
- Maintenance of existing electrical and ventilation infrastructure ongoing
- Generator installed with the mine planned to be re-energised by the end of August allowing more active underground work including drilling and mapping and sampling to commence shortly
o Metallurgical consultant engaged to review historical metallurgical test work and recommend further studies to optimise metallurgical recoveries
o Hydrological studies planned
Commenting on the ongoing activities, Eagle Mountain Mining's CEO, Tim Mason, said:
"With drilling continuing, we have concurrently launched several initiatives to continue to advance the Project. The mining contractor is currently on site refurbishing the underground mine, with the generator already delivered and installed and the electrical equipment currently being serviced with the ventilation fans to follow shortly thereafter. Our goal is to leverage the existing infrastructure to drill and sample underground. We are only two months away from driving our first underground rig through the Oracle Ridge portals.
Metallurgical studies have commenced to review and update existing information that we will need for the upcoming mining studies.
On the geological front, the team is currently mapping the historical workings peripheral to the Oracle Ridge mine and also fine tuning our drilling plans for OREX. "
*To view the full announcement, please visit:
https://abnnewswire.net/lnk/B4F1DUEZ
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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