Eagle Mountain Mining Limited (ASX: EM2) has drilled the strongest grades and widths from underground channel sampling at its 100% owned Oracle Ridge Copper Mine Project in Arizona, USA.
Assays have been received for 201 samples from 12 underground channels located on the 6550 level in the North-West mine area. These channels delivered the strongest results in terms of average grade and width compared to previous channel samples received from the lower 6500 and 6400 levels. Intercepts from 6550 are both wide and, importantly high-grade, with most channels hosting mineralisation across the entire channel length.
On average, channel samples have reported higher grades compared to nearby drill holes.
It is fantastic to see that Eagle Mountain’s third set of channel sampling results are the strongest to date in terms of average grade and width. These great results support the updated resource model, with the sampling programs providing increases to the higher-grade portions of the resource,” CEO, Tim Mason, said.
“The new results and the positive surface and underground drilling completed since October 2022 will be incorporated in the upcoming resource update.
“Eagle Mountain’s successful exploration programme has significantly increased knowledge of the resource and has provided substantial optionality for future mining and processing scenarios at Oracle Ridge, which will allow us to optimise its development and maximise value.”
The consistently high grades and widths seen from channel sampling to date cover an approximate area of 150 metres by 120 metres across three underground development levels. Sampled lithologies include the Martin and Abrigo limestone units and the Leatherwood granodiorite.
Detailed underground geological mapping acquired during the sampling programmes is being incorporated into a revised geological model. Information captured includes structural measurements, the extent of visual sulphide mineralisation, lithological contacts and alteration zones. The revised geological model and all assays received to date will be used to inform the upcoming resource update.
All drilling and underground channel sample assays received to date will be incorporated into the new Mineral Resource Estimate, which is expected to be completed in early Q4, 2023.
Technical evaluations continue to progress, analysing the Project’s strengths and optionality with mining and processing. Extensive copper mineral speciation analyses are continuing to better understand and optimise future metallurgical test work.