Project Highlights

ICON_002

Phase One drilling at Silver Mountain confirmed prospectivity of Project

ICON_004

The Project hosts multiple historic copper / gold mining operations with copper grades up to 10% and gold up to 10g/t

ICON_005

Drilling identified highly anomalous assay values and the presence of porphyry indicator minerals, including molybdenum and bismuth

ICON_003

Geological, geochemical and geophysical studies were undertaken following the completion of drilling

ICON_001

Field mapping to be undertaken to follow up geophysical anomalies

Overview

Arizona is at the heart of America’s mining industry and home to some of the world’s largest copper discoveries, now owned by major mining companies including BHP, Rio Tinto, Freeport McMoRan and Hudbay.

Eagle Mountain’s Silver Mountain Project is large landholding covering approximately 40km 2 consisting of 20 Patented Mining Claims, 420 Unpatented Mining Claims and 6 State Exploration Permits

SilverMountain_1200px_width_001

Silver Mountain Project Tenement Map

Project Location

The Silver Mountain Project is located in Yavapai County, Arizona, USA, approximately 100 kilometres northwest of Phoenix. Arizona has a rich copper mining history and has been host to a number of world class copper mines. The nearby San Manuel copper mine was the world’s largest underground copper mine by the 1980’s and produced over 700 million tons of ore from underground alone. The Arizona mining sector is well supported by world-class infrastructure and a highly skilled workforce.

Silver Mountain’s appeal is based on a number of compelling factors, including a highly prospective copper-gold region, the geological setting, and a lack of modern day exploration.

SilverMountain_1200px_width_002

Regional Map showing the location of the Silver Mountain Project

Geology

Silver Mountain sits on the northwest-southeast Laramide Arc, a geological feature that contains world-class porphyry copper mines such as Bagdad, Miami and Resolution. The Project also lies on the southern extension of a northeast-southwest prospective metallogenic belt, which hosts the historical volcanogenic massive sulphide (VMS) mines, United Verde and Iron King.

Porphyry copper deposits in Arizona are among the largest in the world and account for 60% of annual world copper production. VMS deposits tend to be smaller than porphyries, but are rich in base and precious metals, and often form in clusters.

The intersection of these two trends has created a highly attractive geologic setting with potential for multiple styles of mineralisation. Eagle Mountain previously undertaken mapping, sampling, and testing the area with geophysics.

Prior to the work undertaken by Eagle Mountain, documented modern exploration at Silver Mountain is limited to geophysical and mapping programs completed in the 1960s and 1970s, and mapping and sampling by Dr Linus Keating in the early 1990s.

Prospects

Silver Mountain comprises three main prospects known as Pacific Horizon, Scarlett and Red Mule, which are all wholly-owned by Eagle Mountain. The prospects are located between 15 to 25 kilometres from the well-known mining town of Crown King, and the Project is accessed via unsealed roads with travel times ranging from 1.5 to 2 hours each way.

Pacific Horizon Prospect
The Pacific Horizon prospect is located within 26 patented mining claims and 209 unpatented mining claims controlled by Eagle Mountain. The local geology of the Pacific Horizon prospect comprises a belt of Proterozoic metamorphic schists with a northeast-southwest strike, with latite porphyry dykes intruding the Proterozoic sequence. Minor siderite-calcite-quartz breccias outcrop along the Pacific Horizon prospect.

Anomalous copper, gold, silver and other base metals values are widespread along the horizon.

Several historical high-grade copper mines were developed along the Pacific Horizon prospect from the 1890s to the 1920s, including Number 10, Copper Ash, Buffalo, Wellington and Pacific mines.

SilverMountain_1200px_width_003

Historical Drill holes at the Pacific Horizon Prospect

Copper, gold and silver-bearing breccias occur on dumps near the entrance of historic mine shafts and tunnels within the Pacific Horizon prospect and are interpreted to be the focus of historic mining in the area.

Whilst detailed production records are not available, ore from the Pacific Mine was reported to have averaged 10% copper and was carted uphill to the Crown King railway. Recent sampling of historical waste dumps returned high-grade copper, gold and silver mineralisation at several locations along the Pacific Horizon.

In the 1960s and 1970s, various companies completed limited ground geophysics, mapping, drilling and sampling programs over the Pacific Horizon prospect.

Since commencing exploration at the Pacific Horizon prospect in 2013, exploration activities undertaken by Eagle Mountain’s 100% owner subsidiary, Silver Mountain LLC, have included the acquisition and staking of mining claims, verification and compilation of historical data, mapping, sampling and trenching and extensive geophysical programs, including helicopter-borne magnetic and electromagnetic surveys and induced polarization/resistivity surveys.

Geochemical and structural studies have also been completed to improve the understanding of mineralisation sources and controls. Several coincident geological, geochemical and geophysical anomalies have been identified.

Historic mine waste dump samples collected by Eagle Mountain’s 100% owned subsidiary, Silver Mountain LLC, in the Pacific Horizon prospect have assayed as high as 11.1% Cu, 10.7 g/t Au and 251 g/t Ag.

SilverMountain_1200px_width_004

Mineralised breccias along the Pacific Horizon

Scarlett Prospect
The Scarlett prospect is located immediately west of the Pacific Horizon prospect within 133 unpatented mining claims and 3 Arizona state exploration permits controlled by Eagle Mountain.

A northwest-southeast fault divides the Scarlett prospect into two domains. To the northeast of the fault, Proterozoic granitoids host a swarm of gold-bearing quartz veins. To the southwest, Tertiary volcanic rocks overlay a basal conglomerate unit resting on Proterozoic basement, with latite dykes with a northeast strike cross the area.

Gold mineralisation up to 80 g/t Au is hosted in the sulphide-bearing quartz veins. These veins have a northeast-southwest strike occurring in a corridor of approximately 1,500 metres by 300 metres which is subparallel to the regional fault.

Small scale mining at the Scarlett prospect was carried out intermittently between the 1860s and 1950s, and the Silver Dollar mine was discovered in the 1860s. Several historical adits and small workings are scattered throughout the area. No modern exploration has been reported on the property prior to the establishment of Eagle Mountain’s 100% owned subsidiaries, Silver Mountain and Silver Mountain LLC.

Since commencing exploration at the Scarlett prospect in 2014, exploration activities by Silver Mountain LLC have included reconnaissance mapping and sampling, helicopter-borne magnetic and electromagnetic surveys, ground magnetics and induced polarization/resistivity surveys. Geochemical and structural studies have also been completed to improve the understanding of mineralisation sources and controls.

Eagle Mountain considers the Scarlett prospect to be prospective for vein-hosted gold and porphyry copper mineralisation.

SilverMountain_1200px_width_005

Historical Drill holes at the Scarlett Prospect Silver Mountain

SilverMountain_1200px_width_006

Copper Mineralisation at Scarlett Prospect

Red Mule

The Red Mule prospect is located to the south of the Scarlett prospect and immediately west of the southern end of the Pacific Horizon prospect, within 2 Arizona state exploration permits controlled by Eagle Mountain.

The Red Mule prospect straddles the Proterozoic basement to the northeast and Tertiary cover to the southwest. The Proterozoic basement is the southern extension of the Pacific Horizon. Tertiary rocks include a basal conglomerate with frequent red staining and volcanics, with a northwest-southeast fault system with significant brittle deformation characterising the local geology. Extensive iron-oxide, clay and sericite alteration occurs in the fault zones.

Anomalous copper values are widespread and gold values up to 7.6 g/t Au have been sampled from mafic dykes at the Red Mule prospect.

Eagle Mountain is not aware of any historical mining or exploration activities having been conducted at the Red Mule prospect.

Since commencing exploration at the Red Mule prospect in 2015, Silver Mountain LLC’s exploration activities have included mapping, sampling and trenching and geophysical programs including helicopter-borne magnetic and electromagnetic surveys. Geochemical and structural studies have also been completed to improve the understanding of mineralisation sources and controls. Several geochemical anomalies have been identified along the fault system crossing the Red Mule prospect, including extensive hematite alteration.

Eagle Mountain considers the Red Mule prospect to be prospective for detachment fault-related gold and copper mineralisation as well as porphyry copper mineralisation.