ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

EUZ.GB Europa Metals Ltd

0.95
0.00 (0.00%)
23 May 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type Share ISIN Share Description
Europa Metals Ltd AQSE:EUZ.GB Aquis Stock Exchange Ordinary Share AU0000090060
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.95 0.60 1.30 0.95 0.95 0.95 0.00 06:58:08
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Europa Metals Ltd Drilling Results and Mining Licence Update (2793I)

04/08/2023 7:00am

UK Regulatory


Europa Metals (AQSE:EUZ.GB)
Historical Stock Chart


From May 2023 to May 2024

Click Here for more Europa Metals Charts.

TIDMEUZ

RNS Number : 2793I

Europa Metals Ltd

04 August 2023

4 August 2023

Europa Metals Ltd

("Europa Metals", the "Company" or the "Group") (AIM, AltX: EUZ)

Further Drilling Results from Ongoing Validation and Infill Drill Programme

and Mining Licence Application Update

Europa Metals, the European focused lead, zinc and silver developer, is pleased to announce the latest assay results from its ongoing validation and infill diamond drilling programme, being conducted by Explomin Perforaciones UE S.L. ("Explomin"), at the Company's 100% owned Toral Pb, Zn & Ag project ("Toral" or the "Toral Project") in northwest Spain. This drilling programme forms part of the 2023 exploration campaign agreed between the Company and Denarius Metals Corp (TSXV:DSLV; OTCQX: DNSRF) ("Denarius") pursuant to the definitive option agreement dated 22 November 2022, further details of which are set out in the Company's announcement of 23 November 2022.

In addition, detailed environmental studies are now nearing completion which are required to finalise the formal submission of the Company's mining licence application to the Mines Department of Castilla y León.

Highlights :

-- Assays received in respect of seven drill holes at Toral each reporting significant mineralisation

   --    Significant intersection from drillhole TOD-044 of 7.95m@4.46% ZnEq(PbAg)*, including: 

o 4.25m@6.17% ZnEq(PbAg)*; and

o 1.55m@11.40% ZnEq(PbAg)*

   --    Significant intersection from drillhole TOD-045 of 4.95m@22.71% ZnEq(PbAg)* 
   --    Significant intersection from drillhole TOD-046 of 1.50m@11.64% ZnEq(PbAg)*, including: 

o 1.00m@15.84% ZnEq(PbAg)*

-- Two significant intersections from drillhole TOD-047 of 0.6m@18.34% ZnEq(PbAg)* and 2.4m@3.72% ZnEq(PbAg)*

   --    Significant intersections from drillhole TOD-048 of 4.7m@6.68% ZnEq(PbAg)*, including: 

o 1.65m@14.41% ZnEq(PbAg)*

-- A further significant intersection from drillhole TOD-048 of 6.65m@8.12% ZnEq(PbAg)*, including:

o 3.80m@12.58% ZnEq(PbAg)*

   --    Significant intersection from drillhole TOD-049 of 5.00m@6.91% ZnEq(PbAg)*, including: 

o 1.25m@20.93% ZnEq(PbAg)*

   --    Significant intersections from drillhole TOD-050 of 3.90m@10.30% ZnEq(PbAg)*, including: 

o 1.45m@20.69% ZnEq(PbAg)*

   --    A further significant intersection from drillhole TOD-050 of 2.4m@4.98% ZnEq(PbAg)* 

-- Holes TOD-045 and TOD-046 have both been completed and reliability of the assay results received re-confirmed:

o High values of silver were identified in one of the holes and in line with the Company's standard operating procedures (SOP), we re-submitted the sample for re-testing to confirm its veracity and also confirmed the accuracy of results for control samples

-- All holes to date have been successful in intersecting mineralisation adjacent to an existing, previously reported, high grade intersection within the project's Indicated Resource block

-- Hole TOD-051 is currently nearing completion and comprises the final drillhole for this campaign

-- Detailed environmental work is nearing completion in connection with the Company's forthcoming mining licence application ("MLA") for Toral.

Commenting today, Myles Campion, Executive Chairman and acting CEO of Europa Metals said :

"The current drill campaign is nearing its close and pleasingly all holes have intersected mineralisation as expected, with assays now received for all of the completed holes. The intersections reported to date have correlated well with the known existing resource.

Preparation of our mining licence application has progressed well with one remaining requisite environmental report due for completion later this month. We look forward to providing a further update in due course."

Additional information

The current drilling campaign for a total of up to 7,000m, is focused on a combination of confirmatory and infill drilling within the project's known indicated resource area outlined to date, of approximately 7Mt @ 8.1% Zn Equivalent (including Pb credits), 5% Zn, 3.7% Pb and 29g/t Ag.

Drilling results

The drilling parameters for the assay results reported for each hole are presented in the table below:

 
 HOLE_ID    EASTING   NORTHING   ELEVATION   LENGTH (m)    COOR_SYS 
                                    (m) 
 TOD-044    681197    4710037     531.65        509       ETRS89utm29 
           --------  ---------  ----------  -----------  ------------ 
 TOD-045    681412    4710025     542.29       610.3      ETRS89utm29 
           --------  ---------  ----------  -----------  ------------ 
 TOD-046    681684    4709858     660.80       866.5      ETRS89utm29 
           --------  ---------  ----------  -----------  ------------ 
 TOD-047    681686    4709856     660.88       460.6      ETRS89utm29 
           --------  ---------  ----------  -----------  ------------ 
 TOD-048    681408    4710024     542.29        529       ETRS89utm29 
           --------  ---------  ----------  -----------  ------------ 
 TOD-049    681685    4709857     660.80        763       ETRS89utm29 
           --------  ---------  ----------  -----------  ------------ 
 TOD-050    681916    4709571     634.10       701.3      ETRS89utm29 
           --------  ---------  ----------  -----------  ------------ 
 

All holes were drilled to PQ-HQ-NQ diameter, with half of the core being sent for independent analysis at ALS Laboratories. The assay results received are set out in the table below:

 
 Hole ID                From     To       Interval   Zn_%    Pb_%    Ag_ppm   Cu_%   ZnEq(PbAg)%* 
                                           (m) 
       TOD-044          490.85   498.80     7.95     2.56    1.73    14.65    0.04       4.46 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
 TOD-044 (including)    490.85   495.10     4.25     3.93    2.06    16.79    0.04       6.17 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
 TOD-044 (including)    492.65   494.20     1.55     8.35    2.76    24.31    0.05      11.40 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
       TOD-045          592.00   596.95     4.95     7.31    12.77   160.52   0.10      22.71 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
       TOD-046          845.50   847.00     1.50     8.30    3.45    12.80    0.04      11.64 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
 TOD-046 (including)    845.50   846.50     1.00     11.08   4.91    18.75    0.06      15.84 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
       TOD-047          442.00   442.60     0.60     15.20   3.30    10.50    0.17      18.34 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
       TOD-047          453.10   455.50     2.40     1.61    1.57    27.69    0.20       3.72 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
       TOD-048          505.25   509.95     4.70     3.53    2.81    26.34    0.31       6.68 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
 TOD-048 (including)    508.30   509.95     1.65     7.94    5.78    53.95    0.51      14.41 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
       TOD-048          513.05   519.70     6.65     4.01    2.75    63.60    0.31       8.12 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
 TOD-048 (including)    515.90   519.70     3.80     6.35    4.14    97.92    0.44      12.58 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
       TOD-049          745.00   750.00     5.00     1.17    6.14    15.63    0.07       6.91 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
 TOD-049 (including)    745.85   747.10     1.25     2.01    20.45   43.96    0.23      20.93 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
       TOD-050          675.00   678.90     3.90     2.24    8.05    40.24    0.03      10.30 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
 TOD-050 (including)    677.45   678.9      1.45     5.76    14.39   91.04    0.07      20.69 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
       TOD-050          680.10   682.50     2.40     1.71    2.67    35.44    0.01       4.98 
                       -------  -------  ---------  ------  ------  -------  -----  ------------- 
 

* - ZnEq(PbAg)% is the calculated Zn equivalent incorporating lead and silver credits; (ZnEq(PbAg)% = Zn + Pb*0.926 + Ag*0.019). Zn equivalent calculations were based on 3-year trailing average price statistics obtained from the London Metal Exchange and London Bullion Market Association giving an average Zn price of US$2,680/t, Pb price of US$2,100/t and Ag price of US$16.2/oz. Significant ZnEq intercepts were generated using a 1% ZnEq trigger value, minimum width of 1m, maximum consecutive waste interval of 1m and minimum average ZnEq grade of >1%.

Image 1: Hole positions

Drilling operations remain ongoing, in line with the Company's objective set out above, and further assay results will be announced once processed and received.

The Company had been awaiting re-assays and re-confirmation of the results for several samples, sent to the laboratory over the past several months, prior to releasing this announcement. In particular, one of the holes reported an abnormally high silver value (hole TOD-045, average grade of 160.52 Ag g/t) and as part of the Company's standard operating procedures (SOP) when we receive abnormally high results for either zinc, lead or silver, we re-submit the relevant sample for re-testing in order to confirm its veracity. We have now confirmed this value.

In addition, as part of our SOP we regularly insert control samples into the batches that are submitted to the laboratory, the results of which form part of our statistical analysis to confirm the reliability and consistency of the results received. We have now received confirmation of these results over several holes and can confirm their accuracy.

Mining Licence Application

The Company's mining licence application process has been progressing well with 95% of the requisite reports completed and submitted to the Regional Mining Authority, with currently only one environmental report outstanding that is in the course of being finalised. The Company and Denarius will seek to complete this detailed submission process over the coming weeks.

Competent Person's Statement

The exploration results and activity reported in this announcement have been compiled and reviewed by Mr Luis J. Pérez who is a Member of the Australian Institute of Geoscientists (AIG) and a European Geologist (EurGeol). Mr Pérez has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" ('JORC Code'). Mr Pérez consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

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

Myles Campion, Executive Chairman and acting CEO (UK)

T: +44 (0)20 3289 9923

Strand Hanson Limited (Nominated Adviser)

Rory Murphy/Matthew Chandler/Abigail Wennington

T: +44 (0)20 7409 3494

   WH Ireland Limited   (Broker) 

Harry Ansell/Dan Bristowe/Katy Mitchell/Sarah Mather

T: +44 (0)20 7220 1666

Questco Corporate Advisory Proprietary Limited (JSE Sponsor)

Danielle Christodoulou

T: +27 (11) 011 9216

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 Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DRLEAKPDELXDEFA

(END) Dow Jones Newswires

August 04, 2023 02:00 ET (06:00 GMT)

1 Year Europa Metals Chart

1 Year Europa Metals Chart

1 Month Europa Metals Chart

1 Month Europa Metals Chart

Your Recent History

Delayed Upgrade Clock