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Eagle Mountain Mining Ltd (ASX:EM2) has intersected three high-grade zones within a thick mineralised zone from hole WT-21-51 at the Oracle Ridge Project in Arizona, USA. Assays included: 46.7 metres at 2.16% Cu (copper), 19.55g/t Ag (silver) and 0.27 g/t Au (gold) including 4.1 metres at 3.31% Cu, 27.51/t Ag and 0.30g/t Au; 6.3 metres at 2.42% Cu, 24.36/t Ag and 0.32g/t Au; and 15.3 metres at 4.10% Cu, 37.01g/t Ag and 0.53g/t Au including 6.3 metres at 7.15% Cu, 67.14g/t Ag and 1.00g/t Au.
Eagle Mountain Mining Ltd (ASX:EM2) has received firm commitments from high quality sophisticated, institutional and professional investors to raise A$11 million through the placement of shares for accelerating work at Oracle Ridge Copper mine. Under the placement, the company will issue 31,428,571 shares at an issue price of 35 cents per share.
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