Ann: Copper Porphyry-Style Targets Confirmed at Silver Mountain, page-15

Good article on stockheads below, especially around strategic review. I think the market is still asleep here and once they work out what bids are starting to come to light, they will be pleasantly surprised. I am conservatively valuing this co at 90 million or $3.00 per tonne as a yardstick based on recent private equity transactions, Charlie B ain’t going to let this go for cheap and he will want to make a ROI based on his equity tied up here. It is good to see an advisor appointed to handle the deals being proposed in the background. I think the interested companies looking at our project want to secure it pre release of our scoping study - imo. I have been accumulating in the background and now have 1,000,000 shares at an average of 6.1 cents so looking forward to good news ahead. Given the lack of meaningful copper discoveries in the past 10 years, it just makes sense for mergers to occur in the industry or shared use of copper smelters as outlined below.

• Company confident targets align with major porphyry deposits in Arizona
• Geophysics review and strategic review currently underwayEagle Mountain Mining has defined large copper porphyry-style targets at its Silver Mountain project in Arizona, USA.

The project is on the Laramide Arc, a northwest-southeast trending geological feature containing world-class porphyry copper mines such as Bagdad, Miami and Resolution in Arizona.

It also lies on the southern extension of a northeast-southwest prospective metallogenic belt, which hosts the extremely high-grade United Verde and Iron King deposits, two historical mines of volcanogenic massive sulphide affinity.

The multiple, large-scale targets were found via a 3D seismic survey using Fleet Space’s ExoSphere solution, which is used across the exploration and mining sector to improve geological understanding and generate prospective targets up to two kilometres deep.

The company notes the new targets have a strike length of around2kmswith the depth to the top of the targets at around300m– and have a structural setting and surface mapping that aligns with other major porphyry deposits in Arizona.

Pinpointing deeper targets

Eagle Mountain Mining (ASX:EM2)CEO Tim Mason says that while historical indicators suggested the potential for large mineralised systems at Silver Mountain, younger rock cover hampered the ability to pinpoint deeper targets.

“The new seismic data has effectively unlocked this geological potential,” he said.

“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.

“Extensive mapping has identified encouraging alteration zones along with structures that may have acted as pathways for mineralised fluids originating from a large, buried, heat source and showing themselves as the extensive copper, gold and silver surface occurrences.

“Propylitic alteration, found on the outer edges of porphyry deposits, was found at the bottom of previously drilled diamond holes in the area.

“These holes were terminated about100 metresabove one of the porphyry-style targets.

“The Silver Mountain property is exceeding expectations and has solidified its place in our exploration strategy moving forward.”

Pic: Section view looking NW of seismic velocity model from Silver Mountain with interpreted geological features such as alteration and structures. Source: EM2.

These prospective targets are yet to be tested, as all previous drilling has only progressed through the lowest velocity regions (of approximately <2800 m/s).

Additional high velocity zones have been identified from the survey, with follow-up work including review and re-processing of existing geophysics to aid interpretation.

Strategic review underway

Following recent interest in Eagle Mountain’s Oracle Ridge project due to the news that Grupo Mexico may be planning to restart their Hayden copper smelter about100kmsnorth of the project, the company has initiated a strategic review.

Notably, this smelter previously treated Oracle Ridge concentrates and presents a strategic opportunity for future processing of concentrate from the project.

In the meantime, the scoping study will continue to progress concurrently with the strategic review, which is due for completion in Q4 2024