Cuddy Mountain is 120 miles NW of Boise, Idaho. The western portion of the property can be accessed by paved highways, and by well-maintained gravel roads and trails throughout the property. EMX owns 100% of 159 unpatented Federal lode claims. Historic exploration delineated broad, near surface zones of porphyry style alteration with numerous drill intersections containing appreciable Cu mineralization.
Shallow historic drilling identified porphyry copper mineralization. There are multiple untested zones beneath and adjacent to strong Quartz-Sericite-Pyrite (“QSP”) alteration which are ideal targets. Additionally, calc-silicate alteration is commonly observed at Cuddy Mountain. The Carbonate host rocks of the Seven Devils Formation provide opportunity for significant skarn mineralization.
In March 2023 EMX sold the project to Scout Discoveries Corporation (“Scout”) for a 19.9% stake in Scout, plus a 3.25% net smelter return (“NSR”) on the property, annual advanced royalty payments (“AAR”), and milestone payments. See Company news release dated March 8, 2023 for more details. Scout is a U.S. private corporation headquartered in Coeur d’Alene, Idaho.