Europa Metals Ltd (LON:EUZ) (ASX:EUZ) has increased the JORC mineral resources estimates for its 100%-owned Toral lead-zinc-silver project in northern Spain, following its recent re-logging programme of certain historical core samples.
The AIM-listed European lead-zinc explorer said this has led to a 19% increase in zinc equivalent Inferred resource to 19mln tonnes, a 7% increase in contained tonnes of zinc to 720,000, a 6% increase in contained tonnes of lead to 570,000, and an 8% increase in contained ounces of silver to 14mln ounces.
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The firm said re-logging of the historic drill core held at the National Litoteca from the Toral Project resulted in significantly higher bulk density measurements than those used for the maiden resource estimate announced by the company on 6 February 2018.
It added the increase in bulk density values applied to samples and their spatial distribution resulted in a material change to the estimation of the resource.
Laurence Read, Europa Metals’ executive director, commented: "The significant increases in estimated contained lead, zinc and silver within our Toral Project has been delivered by the Europa Metals team through highly focussed and cost-effective work.
“A 19% increase in zinc equivalent tonnes has been achieved and we have been particularly pleased that the new data sets have integrated very well into our existing model.
“In addition to our ongoing scoping study work and drill campaign at Toral, the team is continuing to analyse the recent information obtained from the historic core in order to provide new insight into the structure of the deposit."