The first hole in the drill programme has a target depth of 750 metres, and will look to intersect a high-grade core of mineralisation, as defined within the existing inferred resource.
The idea is to increase Europa’s understanding of Toral and to move the resource category up from inferred to indicated.
Europa also wants to obtain a significant sample for metallurgical testwork by independent consultants to determine the potential composition of any concentrate produced from Toral. This information will then be used to assist process plant design and in discussions with potential offtake parties.
Addison Mining Services Limited (AMS) has been retained to carry out a revised independent resource update in accordance with JORC standards once the campaign has been concluded.
Europa shares zipped 12.3% higher on the back of the news to 0.017p.