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    EM2   AU0000000366

EAGLE MOUNTAIN MINING LIMITED

(EM2)
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Eagle Mountain Mining Limited Announces Impressive Results Continue at the Talon

09/22/2021 | 06:23pm EST

Eagle Mountain Mining Limited provided an exploration update at its 100% owned Oracle Ridge Mine Project ("Oracle Ridge", "Project") in Arizona, USA. Western Talon: Strong visual mineralisation supported by portable XRF analyses over 28.9 metres has been intersected in drill hole WT-21-32 in the Western Talon area. This zone occurs above the Leatherwood-Sediments contact and contains an upper interval of 13.2 metres containing significant bornite and chalcopyrite (copper-rich sulphide minerals). Samples are at the laboratory with assay results expected in the coming weeks. WT-21-32 was drilled in a westerly direction approximately 50 metres to the south of the following holes: WT-21-15 with best intercepts of 10.6m at 2.10% Cu, 16.92g/t Ag, 0.58g/t Au and 7.5m at 1.62% Cu, 17.09g/t Ag, 0.36g/t Au; WT-21-16 with best intercepts of 7m at 1.16% Cu, 10.21g/t Ag, 0.15g/t Au and 4.9m at 1.98% Cu, 24.42g/t Ag, 0.43g/t Au; WT-21-17 with no significant intersections. WT-21-32 was drilled 30 metres to the west of WT-21-29 (assays pending). WT-21-29 intersected narrower zones of mineralised sediments compared to WT-21-32. While the geological reason for this difference is unclear, the current interpretation has the most favourable sediments for hosting mineralisation dipping steeply to the east and intersecting WT-21-29 only at the very bottom of the hole. WT-21-36 was drilled to the west of WT-21-32 and detailed geological observations for this hole are still pending. The strong mineralisation encountered in WT-21-32 also remains open to the south, south-east and south-west (Figure 2). Recent drilling at the Western Talon has provided new insights into the geology of area. The consistent collection of structural data from drill core, for the first time in Oracle Ridge's history, has proven invaluable in unravelling the local geometry and controls on mineralisation. Eastern Talon: Assay results for two drill holes located at the Eastern Talon have been received. WT-21-27: WT-21-27 was designed to test the eastern and south-eastern extension of strong mineralisation in recent drill holes (WT-21-06, 12.7m at 3.96% Cu, 49.11g/t Ag, 1.38g/t Au; WT-21-12, 5.7m at 4.44% Cu, 44.87g/t Ag, 0.93g/t Au). The new hole extended mineralisation by approximately 45 metres eastwards and encountered two main mineralised zones: 7.5m at 1.40% Cu, 8.89 g/t Ag and 0.20g/t Au from 179.5, including 3.5m at 2.24% Cu, 14.23g/t Ag and 0.36g/t Au from 179.5m; and 12.4m at 1.44% Cu, 12.41 g/t Ag and 0.45g/t Au, from 235.3m including 4.6m at 2.00% Cu, 18.17g/t Ag 0.56g/t Au. The lower zone occurs at the Leatherwood-Sediments contact and is an extension of the same zone encountered in most of the drill holes at the Eastern Talon. The upper zone is thicker and more mineralised than similar intervals in surrounding holes. Interestingly, these new results confirm that the Eastern Talon area returns higher average gold values than the current Mineral Resource Estimate at Oracle Ridge. Further drilling is planned to test extensions to these zones to the north-east, east and south-east of WT-21-27. WT-21-30: T-21-30 was designed to test the southern extension to mineralisation in recent drill holes such as WT-21-27 and WT-21-12 (5.7m at 4.44% Cu, 44.87g/t Ag, 0.93g/t Au). The hole encountered two weak to moderate zones of alteration with the following mineralised intervals: 3.1m at 1.25% Cu, 10.80g/t Ag and 0.25g/t Au from167.7; and 1.5m at 1.67% Cu, 14.40g/t Ag and 0.61g/t Au from 222.7m. These intervals confirm that the two zones intersected in WT-21-27 continue to the south, albeit with smaller thickness and lower copper grades.


© S&P Capital IQ 2021
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Financials
Sales 2021 0,05 M 0,03 M 0,03 M
Net income 2021 -19,2 M -13,7 M -13,7 M
Net Debt 2021 3,78 M 2,69 M 2,69 M
P/E ratio 2021 -8,28x
Yield 2021 -
Capitalization 133 M 94,8 M 94,8 M
EV / Sales 2020 584x
EV / Sales 2021 4 564x
Nbr of Employees -
Free-Float 68,5%
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Tim Mason Chief Executive Officer
Rick Wayne Crabb Non-Executive Chairman
Roger Maitland Port Independent Non-Executive Director
Charles Bennett Bass Director & Managing Director
Mark Edward Pitts Secretary
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