TIDMEUZ
RNS Number : 9872W
Europa Metals Ltd
29 April 2021
29 April 2021
Europa Metals Ltd
("Europa Metals", the "Company" or the "Group") (AIM, AltX:
EUZ)
Drilling Update Toral Zn, Pg & Ag Project, Spain
Highlights
Current drilling campaign objectives:
-- Focus on 100 - 800m horizon, with initial drilling focus on
the upper siliceous material zone that would potentially host early
years of production.
-- Target gaps within the current JORC (2012) resource model to
enhance understanding of the block model, retrieve geotechnical
information for mine design, and identify opportunities to gather
further metallurgical samples from within substantive intersections
encountered.
-- Collate data to inform development of early years of Toral
production and progress economic model within 4-year payback
period.
-- Drilling data being provided by SPI, as part of our
innovation partnership with the University of Salamanca continuing
work commissioned through a grant of EUR466,801 from Spain's Centre
for the Development of Industrial Technology secured via a
loan.
Results:
-- Primary drill holes now completed (TOD-028-029 and 030) with
TOD-028 and TOD-029 assays sent to laboratories
-- Following a positive internal inspection of Drillhole
TOD-029, 4 additional daughter holes have been drilled and
completed (TOD-029 a-d) to further ore-sorting testwork in the
upper siliceous zone of the deposit and contribute to the
Pre-Feasibility Study metallurgical review.
o All intersected mineralisation appears similar to parent
hole
o A significant sample of 700kg has been obtained which will
contribute to PFS level metallurgical testwork including enhancing
the understanding of an ore-sorting route within the upper,
siliceous zone during the first years of production, the objective
being to further improve initial economics of the project
-- Drilling continues at the Toral and final assays on the first
batch of drilling are awaited and will be announced once
received.
-- A new Europa Metals presentation to be used for the Weare121
Americas Professional Investor forum, being held this week, is made
available by the Company;
http://www.rns-pdf.londonstockexchange.com/rns/9872W_1-2021-4-28.pdf
Commenting today Laurence Read, CEO, of Europa Metals said;
"The current drilling campaign is meeting our internal schedule
and budget whilst following all best practice Coronavirus
protocols. We are particularly pleased with being able to drill a
series of daughter holes off TOD-29 to aid the ore sorting analysis
work, focused on the early years of Toral production and to
contribute to the metallurgical elements of the Pre-Feasibility
Study. Europa is still awaiting full assays from this first batch
of drilling and looks forward to announcing the results once they
are received. As outlined in our Half Year report we are not
currently assigning timeframes for workflows due to the Coronavirus
situation but our team on the ground are consistently delivering on
key workflows at the Toral Project."
Figure 1: East West long section locating completed primary
drill holes Tod-028, 29 & 30 (2021 drilling campaign). The
yellow circle identifies location of Top-29 daughter holes within
the primary holes target zone.
Figure 2: Toral Life of Mine Development Plan (looking North)
with current phase of 2021 drilling campaign target area
highlighted- retrieving resource, geotechnical and metallurgical
data to develop early years potential mining scenario can be viewed
on the following link:
http://www.rns-pdf.londonstockexchange.com/rns/9872W_2-2021-4-28.pdf
Europa Metals, the European lead-zinc explorer, announces that
drilling at the 100% Toral Pb/Zn Ag project in Spain is progressing
well and is on track to achieve its objectives. The Company is
still awaiting the first batch of assay results but based on
internal reviews of first intersections commenced a series of
'daughter holes' off TOD-29 for use in metallurgical testwork and
further ore sorting analysis. The daughter holes, TOD-029 a-d, have
been completed and have recovered material similar to that of the
parent hole. Further ore sorting analysis of the upper zones of
Toral will contribute to investigating how the potential first
years of production can be developed.
Drill Campaign Objectives
The objective of the most recent drilling campaign was to infill
known gaps in the resource drilling pattern, around the current
known Indicated resource between the 100 - 800 metre horizon of the
Toral resource. Along with the infill design, the holes have also
been designed to retrieve a bulk sample for use in further
metallurgical testwork to confirm the suitability of the siliceous
ore type, found in the upper levels of the Toral deposit, to X-Ray
Transmission ore sorting. Geotechnical logging is also carried out
as routine with each hole to aggregate further data into are
geotechnical database to aid in further design studies.
The target area for holes TOD-028, TOD-029 and TOD-030 is
located above the current Indicated resource area, into the
predicted siliceous style of mineralsation with the drilling
carried out using the biggest core size possible (PQ) to enable the
retrieval of a new sample for metallurgical test work.
For further information on the Company, please visit
www.europametals.com or contact:
Europa Metals Ltd
Dan Smith, Non-Executive Director and Company Secretary
(Australia)
T: +61 417 978 955
Laurence Read, CEO (UK)
T: +44 (0)20 3289 9923
Linkedin: Europa Metals ltd
Twitter: @ltdeuropa
Vox: Europametals
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler
T: +44 (0)20 7409 3494
Turner Pope Investments (TPI) Limited (Broker)
Andy Thacker
T: +44 (0)20 3657 0050
Sasfin Capital Proprietary Limited (a member of the Sasfin
group)
Sharon Owens
T (direct): +27 11 809 7762
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European (Withdrawal)
Act 2018.
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