Eagle Mountain Mining Limited has commenced a 6,000-metre drilling program at the Oracle Ridge copper project in Arizona, marking the first exploration drilling at the site in nearly three years.

Japan’s Nittetsu Mining Co. is operating the joint venture as an 80% owner, while Eagle Mountain retains a 20% interest. Under the agreement, Eagle Mountain is free-carried for project costs up to a total expenditure of US$20 million, which includes US$3.5 million spent at the formation of the joint venture.

The active campaign is slated to run for up to five months, targeting near-mine extensions to known mineralisation alongside potential new targets identified by a recently completed Induced Polarization geophysical survey. Drilling plans remain flexible and will be adjusted as final survey results become available.

“We are very pleased to see a drill rig at Oracle Ridge after almost three years. The JV has a clear goal of testing near-mine copper targets with potential to increase the current Mineral Resource Estimate of 28.2Mt at 1.35% Cu. We are also awaiting the final results of the recently completed IP survey with drilling plans to be adjusted to test any new opportunity that may be identified. We look forward to seeing the results of these exploration activities managed by Nittetsu while we focus on identifying new projects.”

— Fabio Vergara, Executive Director

The ongoing exploration program represents a key operational milestone for the joint venture partners as they evaluate expansion potential across the Arizona asset.

Read the full announcement: Oracle Ridge Update - Drilling Commences