Eagle Mountain Gold Project Geology
The Eagle Mountain Project comprises two gold deposits, Eagle Mountain and Salbora, in addition to several other exploration targets. The deposits are structurally controlled and considered to be part of the same mineralizing system. They are affected by a zone of saprolitic weathering up to 50 m thick and overprints earlier-formed mineralization in both the granodiorite and basalt but has not resulted in enrichment of gold in the saprolite horizon.
Eagle Mountain Deposit
Gold mineralization at Eagle Mountain is associated with a series of tabular to gently undulating, shallow, dip-slope shear zones developed within a granodioritic host rock. The deposit has a lateral extent that covers an area of approximately 2.5 kilometres by 1.0 kilometre. Three discrete zones of alteration and mineralization have been delineated. Zone 1 is shallowest and outcrops at surface across much of the deposit. Zone 2 and 3 lie at depth below Zone 1 separated by low grade material.
Salbora Deposit
Gold mineralization at Salbora is formed by a series of north to northwest-trending, steeply-dipping structures within a basaltic host rocks, on the margin of a monzonite intrusion. These steep structures (shear zones and breccia bodies) coalesce into a broader zone of brecciation that forms a near-surface sub-horizontal lens up to 100 metres thick and approximated 200 metres by 200 metres in area, where higher-grade gold mineralization occurs, and which represents almost 100% of the mineral resources of this deposit.
Exploration and Project Geology
- Immediate focus is on increasing the resource potential of the Eagle Mountain Project to 1.3 to 1.6 million ounces of gold grading greater than 1.0 in a shallow conceptual open pit. Furthermore, the Company is targeting a meaningful soft-rock saprolite component (approximately 20-25%) to provide tangible opportunities for scalable production.
- In February 2021, the Company delivered an updated mineral resource estimate (MRE) for the Eagle Mountain Project
- 23 million tonnes grading 1.14 g/t for 843,000 ounces of gold contained in Indicated Resources; and
- 25 million tonnes grading 1.09 gpt gold for 866,000 oz of gold in Inferred Resources.
- The updated MRE considered both the Eagle Mountain and Salbora deposits, both of which feature gold mineralization starting at surface in saprolite (soft rock) and extending into the underlying fresh rock. The saprolite is estimated to contain 41% of Indicated Resources and 16% of Inferred Resources.
- The Company is planning a second resource update in the second half of 2021. This will incorporate results from expansionary and infill drilling at the Eagle Mountain deposit, including the Baboon and Ounce Hill areas, and exploration drilling along the prospective Salbora-Powis trend targeting Salbora-style mineralization. Three drill rigs are currently active on the property.