Eagle Mountain Mining announces resource expansion potential at Western Talon

Highlighted

• High-grade stacked lodes potentially extend mineralisation over 190 m to the south in the Western Talon area at Oracle Ridge.
• Drill hole WT-21-25 intersects four high-grade lodes:
  • 9.1 m at 2.39% copper (Cu), 22.47 g/t silver (Ag) and 0.22 g/t gold (Au) from 266.4 m.
    • Including: 1.6 m at 6.8% Cu, 67.30 g/t Ag and 0.40 g/t Au from 266.4 m.
  • 3.7 m at 3.13% Cu, 25.38 g/t Ag and 0.75 g/t Au from 225 m.
  • 7.4 m at 1.92% Cu, 19.18 g/t Ag and 0.44 g/t Au from 239.5 m.
  • 13.8 m at 1.54% Cu, 13.22 g/t Ag and 0.28 g/t Au from 174.1 m.
• Mineralisation remains open representing significant potential for resource expansion.
• Improving drilling productivity and assays pending for 15 holes.

Eagle Mountain Mining CEO, Tim Mason, commented: “The Western Talon is becoming a potential game changer at Oracle Ridge. We anticipated intersecting multiple stacked lodes in this area and WT-21-25 has encountered four strongly mineralised lodes with cumulative downhole length exceeding 34 m. These results suggest high-grade mineralisation could be continuous for over 190 m and strong potential remains for further extensions to the south.

“The goal of the ongoing resource expansion program is to identify new mineralisation of sufficient grade to increase the existing mineral resource estimate (MRE). These results are a meaningful step in that direction. The stacked nature of the lodes at the Western Talon means that every successful hole could add significant tonnage to the MRE.

“We are seeing improved drilling productivity as the monsoon season passes. We are eagerly waiting for assays for 18 holes, including two recently completed at the Western Talon.”

WT-21-25 was drilled in the Western Talon area, testing about 190 m of undrilled area between two historic holes. 70 m to the south of WT-21-25, historical hole C-115 intersected 17.1 m at 2.14% Cu and 24.7 g/t Ag. Approximately 120 m to the north of WT-21-25, historical hole C-019 had best intercepts of 2.1 m at 5.76% Cu and 34.63 g/t Ag and 11.3 m at 1.28% Cu and 12.32 g/t Ag and 12 m at 1.13% Cu and 10.63 g/t Ag.

The potential endowment of Western Talon has been confirmed by recent results including, among others, drill hole WT-21-15 (best intersection of 10.6 m at 2.10% Cu, 16.92 g/t Ag and 0.58 g/t Au, approximately 120 m to the north of WT-21-25).

Several observations augment the prospectivity of the Western Talon:

• Drilling shows consistently multiple “stacked lodes”. These are geological units displaying extensive skarn alteration and mineralisation occurring one on top of the other, separated by intervals of lower grade mineralisation or barren material. Four key units appear to recur in most drill holes. These are interpreted to be the same four units that are highly endowed in the northern part of the Oracle Ridge mine, where the majority of the existing MRE is located.
• Several holes at the Western Talon show these lodes to be high-grade, potentially capable of expanding the existing MRE.
• The entire Talon target is characterised by a magnetic high anomaly. The anomaly is interpreted as being caused by abundant magnetite, a strongly magnetic mineral which is often closely associated with high-grade copper mineralisation at Oracle Ridge.

WT-21-25 confirmed these observations with four stacked lodes with moderate to abundant magnetite intersected. Results include:

• 13.8 m at 1.54% Cu, 13.22 g/t Ag and 0.28 g/t Au from 174.1 m.
• 3.7 m at 3.13% Cu, 25.38 g/t Ag and 0.75 g/t Au from 225 m.
• 7.4 m at 1.92% Cu, 19.18 g/t Ag and 0.44 g/t Au from 239.5 m.
• 9.1 m at 2.39% Cu, 22.47 g/t Ag and 0.22 g/t Au from 266.4 m.
  • Including 1.6 m at 6.8% Cu, 67.30 g/t Ag and 0.40 g/t Au from 266.4 m.

Significantly, the new results in WT-21-25 strongly suggest that favourable mineralisation in C-019 and C-115 could be continuous over the entire 190 m distance between these holes. Two additional holes, WT-21-29 and WT-21-32, have been completed in this area with assays pending.

Mineralisation remains open to the east and west. Strong expansion potential exists to the south of drill hole C-115. The likelihood of stacked, high-grade lodes at the Western Talon extending to the southern part of the Talon target, a distance of over 250 m from C-115, is supported by sparse historical drilling.

Next steps

Two holes have been completed between WT-21-25 and C-019 with assays pending. One rig is currently drilling at the Western Talon area, focusing on extensions to known mineralisation and infill to confirm the continuity of mineralisation between known intersections. The company is currently planning to infill drill to a data density sufficient to declare an Inferred resource for the next mineral resource update.

Two additional drill rigs are currently operating at the project. One rig is targeting extensions to mineralisation in the southernmost part of the Talon target. The second rig is drilling the exciting gold-copper-silver target at the Golden Eagle, approximately 2 km to the east of the mine portals.

18 holes are currently being cut, sampled and assayed with results pending.

Read the article online at: https://www.globalminingreview.com/exploration-development/09092021/eagle-mountain-mining-announces-resource-expansion-potential-at-western-talon/