Proactive Investors - Run By Investors For Investors

Europa Metals updates on Toral drilling as first hole terminates early

Drilling has started for the second hole and Europa has launched a performance review with its contractor.
Drilling operations at Toral project in Spain
The targeted high grade zone was missed after a 'substantial deviation in trajectory'.

Europa Metals Ltd (LON:EUZ) told investors that the first hole in the drill programme at the Toral lead-zinc-silver project, in Spain, has been terminated early and its contractor has now begun the next hole.

The first hole, tagged TOD-021, was terminated at the company’s instruction due to a substantial deviation in trajectory, away from the targeted zone.

WATCH: Europa Metals showcases Toral project as drilling gets underway

The drill contractor cut off at a depth of 652 metres. The upper zone of mineralisation was intersected, albeit above the targeted high-grade zone, so TOD-021 won’t be used for metallurgical sampling. Nevertheless, the mineralisation that was encountered will be assayed in due course.

Europa said it has begun a performance review with the contractor.

Drilling is now underway in the second hole, TOD-022, which is targeting the high grade zone and will have a 750 metre target depth. The hole is due to be complete before the end of July.

“Our objectives from this ongoing drill campaign continue to be the retrieval of a significant mineralised sample for metallurgical testwork, in order to determine concentrate product types, and the definition of an initial indicated resource estimate for the project," said Laurence Read, Europa executive director.

View full EUZ profile View Profile

Europa Metals Ltd Timeline

Related Articles

A gold nugget
March 31 2019
The Albury Heath project near Meekatharra now contains 35,479 ounces of gold.
Map of Queensland, Australia
February 28 2019
A recently published preliminary economic assessment shows an after-tax net present value of A$124 million and an internal rate of return of 24%
project area
February 06 2019
Drilling to improve the JORC classification and extend the current resource will start this quarter.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use