Australia's Eagle Mountain Mining jumps on Arizona copper project progress

Eagle Mountain Mining

06/10/2022 05:09

** Shares of copper-gold explorer Eagle Mountain Mining
 EM2.AX  rise as much as 16.7% to A$0.245, eyeing their best
session since Sept. 9
    ** EM2 says Oracle Ridge Copper mine project in Arizona
better positioned to commence feasibility work 
    ** As compared to the mineral resource estimate (MRE) in
March, there has been a 12% increase in measured and indicated
resource tonnes at a 1% Cu cut-off, says co 
    ** Also identified high-grade intercepts of copper, silver
and gold from the southern and eastern Talon area at project,
which were not included in October MRE update
    ** Shares hit their highest level since Sept. 23
    ** About 614,000 shares change hands, compared with the
30-day average volume of approximately 416,000 shares
    ** Stock down ~65% this year, as of last close
 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))