Europa Metals Ltd Operational Update (4686V)
05 Abril 2023 - 6:00AM
UK Regulatory
TIDMEUZ
RNS Number : 4686V
Europa Metals Ltd
05 April 2023
5 April 2023
Europa Metals Ltd
("Europa Metals", the "Company" or the "Group") (AIM, AltX:
EUZ)
Operational Update
Commencement of drill campaign at Toral
Europa Metals, the European focused lead, zinc and silver
developer, is pleased to announce that the approximate 7,000m
drilling campaign on the Company's wholly-owned Toral Zn-Pb-Ag
Project (the "Toral Project" or "Toral"), in the León Province,
north-west Spain, with its partner, Denarius Metals Corp. (TSXV:
DSLV; OTCQB: DNSRF) ("Denarius Metals") has commenced.
The first rig arrived on site and commenced drilling during
March with the second rig expected to arrive on site this week
which will then commence drilling after Easter. The drill campaign
is being conducted by the contractor, Explomin Perforaciones UE
S.L. ("Explomin").
Drilling campaign
As part of the initial twelve month work programme agreed with
Denarius Metals the current drilling campaign of 11 planned holes
for a total of up to 7,000m, will principally involve a combination
of confirmatory and infill drilling within the project's known
indicated resource area outlined to date. The results will then be
applied to commission an updated independent mineral resource
estimate later in the year.
Other works
The Toral Project team has also been busy with on-site works
with a core racking system being installed at Europa Metals'
offices to handle the anticipated increase in core from the new
drilling as well as storing our historic core more effectively.
Work on our planned mining licence application is progressing
well alongside desk top studies evaluating other potential
surrounding exploration permit areas which are expected to be
completed over the next 3 to 6 months.
The Company notes that the initial work programme forms the
major part of the EUR1.8m (approximately US$1.95m) twelve month JV
budget agreed recently with Denarius Metals, rather than the
US$1.8m figure misquoted in the Company's announcement of 22 March
2023.
Commenting today, Myles Campion, Executive Chairman and acting
CEO of Europa Metals said :
"I am very pleased that our latest drill campaign has commenced
so quickly post finalisation of the JV budget; it represents a
great first step in our partnership with Denarius Metals. Two rigs
onsite will allow us both efficiency and flexibility in our
programme of resource infill targeted drilling, the results of
which will then flow into an updated resource estimate.
I look forward to providing further updates as the drill results
are generated in due course."
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)
Sharon Owens
T: +27 (11) 011 9212
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.
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END
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