TIDMEUZ
RNS Number : 9798J
Europa Metals Ltd
03 May 2022
3 May 2022
Europa Metals Ltd
("Europa Metals", the "Company" or the "Group") (AIM, AltX:
EUZ)
Operational Update
Europa Metals, the European focused lead, zinc and silver
developer, is pleased to announce an operational update in relation
to its activities at its wholly owned Toral lead, zinc and silver
project in the Castilla y León region, Spain ("Toral" or the "Toral
Project") .
Highlights :
-- 2022 resource drilling campaign underway; comprises a series
of holes to be drilled at depth, targeting an increase in the
Company's pre-existing JORC indicated resource estimate
-- Geotechnical drill programme has now been completed
-- Further to the excellent ore sorting recoveries demonstrated
in late March 2022, Wardell Armstrong International Ltd is nearing
completion of its rougher tests prior to embarking on locked cycle
testwork
Commenting today, Myles Campion, acting CEO and Executive
Chairman of Europa Metals, said :
" Europa Metals continues to progress its work programme on a
number of fronts. Following a slight delay, the drill rig is now on
site and I am pleased to get our 2022 resource drilling campaign
underway, which seeks to target additional resources at depth
."
Resource drilling
Following a slight delay to the arrival of the rig due to
increased third party exploration and rig activity in Spain, we are
pleased to report that our 2022 resource drilling campaign is now
underway.
The objective of this latest campaign is to seek to extend the
pre-existing indicated resource estimate at depth towards the east
of the current zone and thereby link up a known area of encouraging
data. If successful, it will enable us to increase the resource
tonnage and enhance the previously envisaged mining plan.
Additionally, all holes will be geotechnically evaluated as
drilling progresses, providing additional information for the
feasibility study process.
This drilling campaign will also feed into our previously
announced R&D collaboration project with the Centre for the
Development of Industrial Technology (CDTI), which is scheduled to
be concluded later this year.
Metallurgical work and ore sorting
Samples were submitted to Wardell Armstrong International Ltd
("WAI") earlier this year, comprising both siliceous style
mineralisation in the form of a bulk sample and carbonate style
mineralisation in the form of two discrete samples.
The completed ore sorting work provided excellent results, as
announced in March 2022, demonstrating that 94% of the overall lead
and zinc in the feed, could be recovered whilst rejecting more than
43% of the original mass.
WAI is currently nearing completion of its first stage rougher
tests on all samples and will then proceed with final locked cycle
testwork.
Europa Metals intends to utilise the findings and the tailings
and rejects from the metallurgical and ore sorting test work, to
establish a picture of how best the Company can use such waste
products as both backfill and paste fill for potential future
quarry reclamation and underground mining operations.
Geotechnical drilling programme
The Company has now completed the previously announced series of
5 shallow drill holes for approximately 79m across the area
earmarked as the preferred future plant location. The aim of this
programme was to provide geotechnical measurements of the subsoil
characteristics by way of performing a series of tests. In
conjunction with the drilling operations, Europa Metals' team also
collated data from trench sampling and conducted further surface
tests within the area concerned.
The information obtained from the programme and testing will be
utilised to inform ground support for future plant
construction.
In-house mining studies
Europa Metals is utilising the skills of its in-house
consultants to enhance its understanding of the possible mining
environment at Toral, manipulating the new datasets with various
software packages to update internal models and assess the impact
on potential future mining scenarios. This aids our strategic
planning and will also assist our planned future application for a
mining licence at Toral.
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, Acting CEO and Executive Chairman (UK)
T: +44 (0)20 3289 9923
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler
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 .
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END
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Europa Metals (AQSE:EUZ.GB)
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