HIGHLIGHTS
- Drilling outside the JORC Resource continues to show potential for resource extensions with strong assay results including:
o 28.9m at 2.34% Cu, 21.95g/t Ag and 0.37g/t Au (WT-21-32), including
13.2m at 3.53% Cu, 33.89g/t Ag and 0.54g/t Au, with
1.4m at 9.99% Cu, 147g/t Ag, 2.83g/t Au
o 91.5m at 1.37% Cu, 10.86g/t Ag and 0.38g/t Au (WT-21-31), including
9.7 at 3.39% Cu, 29.65g/t Ag and 0.67g/t Au
- High grade stacked lodes on the Western Talon enhance the potential to expand the existing JORC Resource
- Discovery of two large prospective alteration systems at Golden Eagle
- Third diamond drill commences on site as part of accelerated exploration program
- Resource infill drilling supports existing MRE and identifies mineralisation in previously unassayed areas. Results include:
o 110.1m at 1.06% Cu, 9.64g/t Ag and 0.16g/t Au (WT-21-24), ending in mineralisation and including
18.4m at 3.12% Cu, 27.83g/t Ag and 0.51g/t Au, within
50.5m at 1.73% Cu, 14.31g/t Ag and 0.26g/t Au
- Drilling results on the Western Talon show a 500 metre long corridor with highly prospective geology and limited previous drilling
- Land holdings increase with 39 new claims staked over
- Drilling ongoing with three drill rigs and assays pending for 24 holes
Corporate
- Repayment of
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"We have achieved significant growth and success this quarter on a number of fronts at
The discovery of two strong alteration systems at Golden Eagle is beginning to show us the potential for a much larger mineralised system at the Project - this is truly exciting. Drilling continued throughout the quarter with some of the longest holes drilled at the project.
Resource expansion drilling intersected high-grade, thick intercepts outside the JORC Resource including some of the best intercepts recorded at
The results of infill drilling surprised us with the discovery of mineralisation in areas that had previously been unassayed. Three holes intersected mineralised zones of around 100 metres which, from a mining perspective, provides the potential for bulk mining scenarios or the use of ore sorting technology to separate barren rocks from copper-bearing ores to reduce processing costs. We expect that the results of the infill drilling will enable resources in the 'Measured' category to be defined in the next JORC Resource update.
We now have three drill rigs operating full time with the aim of increasing the size and confidence of existing resources, while also exploring other prospective targets which have the potential for a 'step change' to the project. Unfortunately, we have seen a recent increase in the laboratory time for assays, however we have taken delivery of a new saw in our Tucson facility which will reduce this turn-around time.
The successful capital raising of
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About
Contact:
BEng, MBA, GAICD
Chief Executive Officer
tim@eaglemountain.com.au
Company Secretary
mark@eaglemountain.com.au
Investor and Media Relations
jm@janemorganmanagement.com.au
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