Please be aware that the information provided is a summary of select releases made to the ASX, as evaluated and interpreted by ASX Briefs. It is important to thoroughly read the entire original release before forming an opinion, rather than relying solely on the brief overview presented here. ASX Briefs is not associated with the ASX. ASX Briefs is an experimental AI project incorporating chatGPT, and as such, does not guarantee the accuracy of the information provided.
All six surface holes drilled on the far western extent of Northwest Oracle Ridge have intersected broad mineralized zones with multiple high-grade zones encountered.
These holes are likely to increase the Measured resource category, the overall volume of mineralization in the Mineral Resource, and potentially enhance the optionality for bulk mining and processing scenarios.
CEO, Tim Mason, expressed excitement about the thick mineralized zones and potential for low emission production from the Oracle Ridge Mine.
Eagle Mountain Mining Limited (ASX: EM2) has successfully completed the second and final tranche of a placement to raise $5 million before costs.
An entity associated with Mr Charles Bass, the company's Managing Director and major shareholder, subscribed for the second tranche to raise $2 million through the allotment of 12,121,213 shares at $0.165.
Shareholder approval was received at a General Meeting held on 3 February 2023.