Europa Metals Ltd (LON:EUZ) said phase two drilling at its Toral lead, zinc and silver project in Spain has shown “promising results”.
Three infill diamond drill holes all intersected lead, zinc and silver mineralisation at a depth of 300m of the topographic surface. The results confirmed block model grade and thickness.
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Drilling intercepted copper mineralisation within 280 meters of the surface. The TOD-020 drill hole returns 0.68% copper at 3m, including 1m at 1.34% copper. Europa said this level of copper was not expected within the deposit so near to surface. The group plans to carry out follow up work to identify controls and extent of copper mineralisation.
Drilling was completed on budget and to schedule.
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"Our limited, focused drill programme has given us promising results, confirming the block model results and geological theory of increasing grade with depth,” said Myles Campion, technical director of Europa Metals.
“I look forward to 2019 and expanding the infill drilling into the deeper, high-grade core of Toral."
The Phase II drilling is focused within the existing resource area to fill in gaps within the historic drill patterns.
The next step of the Phase II programme is likely to target high grade inferred resource areas below about 400m from the surface with the aim of advancing the Toral project towards a feasibility study.
Toral hosts a mineral resource estimate of 16 million tonnes at 7.5% zinc equivalent, 3.9% zinc, 3.1% lead and 24 grams per tonne of silver equating to 640,000 tonnes of zinc, 510,000 tonnes of lead and 13 million ounces of silver.