RNS OUT11 Mar 2020 07:09
This is a section only -Assay Results for HolesTOD-024 and TOD-025, Toral Pb, Zn & Ag Project, Spain
Europa Metals, the European focused lead-zinc and silver developer, is pleased to announce that the assay results for the remaining drill holes TOD-024 and TOD-025 have now been received from ALS Laboratories. These results contain the highest-grade intersection obtained by the Company to date from its drilling campaigns on its wholly owned Toral lead, zinc and silver project ("Toral" or the "Toral Project") situated in the region of Castilla y León, north-west Spain.
Highlights:
- Assay results received for the remaining drill holes TOD-024 and TOD-025;
- Thick, high-grade zone confirmed outside of the current Indicated resource area in hole TOD-025:
o 7.70m @ 17.3% ZnEq(PbAg) from 483.6m to 491.3m, including 4.3m @ 25.6% ZnEq(PbAg) from 486.3m to 490.6m;
o Highest grade intersection returned by Europa Metals to date from its drilling campaigns at Toral;
o Encouraging results that extend the current known high-grade area of the deposit and establish consistency with the historic grades encountered at the Toral Project from third-party drilling activities undertaken in the 1980s;
- Mineralisation confirmed above current Indicated resource area in hole TOD-024:
o 1.7m @ 5.1% ZnEq(PbAg) from 280.8m to 282.5m;
- Copper results identified in hole TOD-024:
o 0.9m @ 1.5% Cu from 278.9m to 279.8m;
- On conclusion of the current metallurgical testwork (expected during March 2020), the significant material recovered from drill hole TOD-025 will be utilised in a further phase of metallurgical testwork, to be undertaken by Wardell Armstrong International.
Laurence Read, Executive Director of Europa Metals, commented:
"Today's high-grade assay results from hole TOD-025 are the highest obtained by Europa Metals since we commenced drilling activities at Toral in 2017 and serve to establish continuity with the results of historic third-party drilling campaigns in the 1980s. The intersections have enabled us to obtain further mineralised core to continue with the metallurgical work programme, once the results from the current testwork are received and reported. As previously announced, we shall not obtain a further resource update at this stage, but will instead focus on establishing recoveries and potential future saleable concentrate product types of zinc, lead and silver from the high-grade mining profile being developed at Toral."
Myles Campion, Technical Director of Europa Metals, further commented:
"The drilling of hole TOD-025 was an exciting process as we were able to visually identify coarse-grained mineralisation. It is highly encouraging that this initial visual identification has now been verified via today's assay results. It represents the most significant hole drilled by the Company to date at Toral and also ranks highly in comparison with the historic higher-gr