Eagle Mountain (ASX:EM2) has confirmed copper porphyry-style targets at the Silver Mountain Project in Arizona, US, via a seismic survey conducted by Fleet Space’s ExoSphere solution.
The seismic survey results confirming porphyry-style alteration zones have assisted in defining possible mineralising fluid and heat sources at depth.
Eagle Mountain, which has a market capitalisation of $20.42 million, says the modelled porphyry-style target has a strike length of 2km and a depth of 300m.
CEO Tim Mason says the survey results have enhanced the company’s geological understanding and propelled the project to a top priority for exploration.
“While historical indicators suggested the potential for large mineralised systems at Silver Mountain, younger rock cover hampered our ability to pinpoint deeper targets,” he says.
“These new findings highlight an unexplored, western target zone, well beyond the past exploration efforts that were focused on the eastern volcanogenic massive sulphide horizon.
“The Silver Mountain property is exceeding expectations and has solidified its place in our exploration strategy going forward.”
Eagle Mountain notes that the targets are yet to be tested, as all previous drilling has only progressed through the lowest velocity regions. Previously conducted drilling was not targeting deep anomalies.
Follow-up work, including a review and re-processing of existing geophysics, will support the company’s interpretation.
The company plans to conduct further investigations to refine existing porphyry-style targets for drilling and uncover additional potential mineralisation within Silver Mountain.
Eagle Mountain says these activities will include geophysical data enhancement, geochemical analysis, age dating, petrographic analysis, and geological mapping.
Further, the company has initiated a strategic review of the Oracle Ridge Project. Argonaut PCF has been appointed to lead the review and will explore all options.
The Scoping Study is progressing concurrently with the strategic review, which is due for completion in the fourth quarter of this year.
Eagle Mountain is a copper-gold explorer focused on its Oracle Ridge and Silver Mountain projects in the US.
The Silver Mountain Project lies northwest of Phoenix and is positioned on the Laramide Arc, a northwest-southeast trending geological feature containing porphyry copper mines such as Bagdad, Miami, and Resolution in Arizona.
Write to Aaliyah Rogan at Mining.com.au
Images: Eagle Mountain