Eagle Mountain Mining Limited has recommenced drilling at its 80 per cent owned Oracle Ridge Copper Project in Arizona, USA. The first drill hole for 2021 is WT-21-01 and was completed last week, while WT-21-02 is underway.
All drilling undertaken by the company last year was aimed at expanding the existing mineral resource base. Eagle Mountain outlines that assays received from the 2020 drilling program contained significant grades of copper mineralisation. Assays for the last five drillholes are still pending.
The company remains confident in achieving its previously announced Exploration Target of adding an additional 14-29 million tonnes (Mt) at 1.1-1.9 per cent copper (Cu), 0.03-0.26 grams per tonne (g/t) of gold (Au) and 7.1-19.3 g/t of silver (Ag) to the existing JORC mineral resource estimate of 12.2Mt at 1.51 per cent Cu, 16.3g/t Ag and 0.19g/t Au for 184 kilotonnes (kt) contained Cu, 6.4 million ounces (Moz) Ag and 73koz of Au (Indicated and inferred at a 1.0 per cent cut-off) .
Eagle Mountain notes that the potential quantity and grade of the exploration target is conceptual in nature and there has been insufficient additional exploration to estimate an expanded Mineral Resource as at the date of this announcement (18 January 2021) and whilst additional exploration is planned it is uncertain if this will result in the estimation of an expanded Mineral Resource.
A key highlight from the 2020 drilling was the discovery of high-grade breccias, being a new style of mineralisation encountered within the skarn. These breccias are a key focus for Eagle Mountain’s exploration in 2021 as they suggest that some of the copper ore emplaced occurred after the Leatherwood was formed.
They are significant, because as the company previously reported for WT-20-10, they contained mineralisation up to 11.55 per cent Cu and 5.41g/t Au . The breccias also indicate that there is likely a deeper mineralising system that sits below the Leatherwood granitic intrusive.
Assays are pending for five holes, WT-20-12 to WT-20-15 which were submitted in late 2020 and are expected to be received shortly. WT-20-16 assays were submitted in early 2021.
Drilling has recommenced near WT-20-16 which was the last hole completed before the scheduled Christmas break, targeting northern extensions to mineralisation at the Leatherwood-Sediments contact intersected in historical holes. Visual observations from WT-20-16 identified several zones of copper sulphides mineralisation between 206 metres and 300.5 metres downhole. Samples were recently submitted to the laboratory and assay results are expected in the coming weeks.
Breccia-zones similar to those previously intersected in holes WT-20-10 and WT-20-06 have been logged in WT-20-16. Eagle Mountain advises that the geology team is currently reviewing all information available to better understand the extent of these breccia occurrences.
Further drilling will then be planned to assess the significance of the breccias as sources of additional mineralised material and as possible vectors to skarn and porphyry mineralisation.
Red Hawk and OREX mapping and target definition commencing
A field mapping program has commenced this week in the areas of Red Hawk and OREX.
Eagle Mountain states that Red Hawk contains a very strong electro-magnetic geophysical anomaly and OREX (Oracle Ridge Extension) has observed multiple zones of outcropping copper/silver/gold mineralisation.
The aim of the field program is to:
a) further enhance the understanding of the broader geological setting at Oracle Ridge; and
b) establish specific drill targets at these areas.
 Refer ASX Announcement 10 June 2020.
 Refer ASX Announcement 14 December 2020.
 Refer ASX Announcement 22 December 2020.