Eagle Mountain Mining (EM2) has provided an operational update for the Oracle Ridge project in Arizona, marking a return to active field work under its joint venture with Japan’s Nittetsu Mining. Preparation for an upcoming 6,000-metre drilling program is now well underway, with site crews currently focused on improving road access and readying drill pads to support the campaign. The joint venture partners expect to mobilise a surface drill rig in the third quarter of 2026, with the programme slated to run for up to five months to test extensions near existing mineralisation.

Logistical upgrades at the site include the ongoing installation of a water delivery system and the repurposing of existing facilities to serve as core logging and accommodation quarters. These infrastructure improvements were supported by the acquisition of equipment and site assets from the company as part of the formal administrative handover to the joint venture. This transition has strengthened the company’s liquidity, resulting in an increase of approximately A$293,000 in cash reserves.

Beyond the planned drilling, the joint venture has commissioned a trial Induced Polarization survey. This geophysical work represents the first deep survey of its kind at the project and aims to identify new copper mineralisation that may possess a different geophysical signature than the main deposit. If successful, the partnership intends to expand the survey and use the resulting data to define and test further exploration targets.

"We have been busy assisting Nittetsu in this initial phase of the JV. The team in Arizona has already doubled in size after re-engagement by the JV of geologists that previously worked at the Project: their knowledge and proven skills will be invaluable going forward. Exploration plans are also well advanced: the upcoming drilling program is designed to test new exploration concepts and it is pleasing to see contractors already on site. We are looking forward to seeing a drill rig on Marble Peak after almost three years!"

— Fabio Vergara, Executive Director

Read the full announcement: Oracle Ridge Operations Update