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Europa Metals hits target area with second drill hole and begins third

The second hole is the first in the campaign to successfully exceed the 750m target depth

europa metals
Toral is located in the Leon region in northern Spain

Europa Metals Ltd (LON:EUZ) has completed a second drill hole at its Toral lead-zinc-silver project in Spain and has begun to drill a third.

After a first hole was terminated early, the second hole is the first in the campaign to successfully exceed the 750m target depth, with the core now sent off to a laboratory for assay.

READ: Europa Metals updates on Toral drilling as first hole terminates early

With the company looking to replicate the un-assayed results encountered in a historic hole drilled in 1984, a third hole at Toral was begun on Monday, given the name TOD-023.

Located at the centre of the previously defined high grade area of the deposit, the third hole is “significant in terms of defining a potential indicated resource”, the company said.

Toral’s lead, zinc and silver mineralisation currently comprises at least two, possibly three, plunging high-grade shoots, which are long seams of mineral-bearing rock, TOD-023 will help establish the size and shape of the shoots.

“TOD-023 has three clear objectives,” said executive director Laurence Read, “i) recovery of a significant metallurgical sample for metallurgical testwork to determine concentrate product types; ii) to assist with the definition of an initial Indicated resource estimate; and iii) to increase our understanding of how the high grade ore shoots behave and what the relationships might be between the structures as they come to surface."

Quick facts: Europa Metals Ltd

Price: 0.0122 GBX

Market: AIM
Market Cap: £2.04 m

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