Eagle Mountain (ASX:EM2) is enhancing the porphyry potential at the Silver Mountain Project in the US based on evidence from new mapping and sampling.
Assay results from samping of the north Scarlett area returned up to 64.1 grams per tonne (g/t) gold, 445g/t silver, and 15.4% lead across 0.5m vein.
These breccia and veins sit between the Silver Dollar and Gold Hill mines, along a trend mapped over 1km in length. Porphyry-driven hydrothermal activities are believed to be the drive for the mineralisation supported by the observed alteration.
Eagle Mountain, which has a market capitalisation of $22.39 million, says this area presents a compelling exploration target due to its strike length, structures, and outcropping high-grade mineralisation, which may support a stand-alone deposit.
CEO Tim Mason says the targets are supported by the discovery of gold and silver-rich zones along geological trends, including one stretching more than 1km between historic mines.
“Sampling and mapping results suggest the high-grade features could be porphyry-related mineralisation,” Mason says.
“These exceptional results complement our previously identified porphyry indicators. New outcrops of porphyry alteration have been identified, adding to all the other indicators of a porphyry system under cover.”
The company notes an additional 500m trend was mapped further north, near the historical Colossal mine. Open strike extensions exist for the Colossal and Silver Dollar-Gold Hill trends, and provide further prospectivity beyond mapped areas.
Further field work is underway to establish the extent of mineralisation, alteration, and structural extents.
Eagle Mountain says mapping and sampling is ongoing to delineate the full extent of precious and base metal features, and how they could relate to a multi-mineralisation system concept.
Particularly, the company is focusing on structures interpreted to impact mineralisation, such as the Silver Dollar-Gold Hill and Colossal trends, as well as the Breakaway, Ryland, and Gold Note faults.
A soil sampling program is planned to help establish the lateral extent of alteration zones.
The company adds further geophysical processing is nearing completion to create inversion models for the magnetics data.
Eagle Mountain is a copper-gold focused explorer and developer. The company is primarily focused on its Oracle Ridge Mine and the Silver Mountain Project in the US.
Write to Aaliyah Rogan at Mining.com.au
Images: Eagle Mountain
