Europa Metals Ltd (AIM:EUZ, JSE:EUZ, OTC:EOPAF) said it intersected high-grade mineralisation at its Toral lead-zinc-silver project in Spain.
Initial assay results returned a significant intersection from drillhole TOD-041 of 3.20 metres (m) at 15.16% zinc equivalent (ZnEq), incorporating lead and silver credits, including 1.10m at 32.03% ZnEq (PbAg).
The drillhole intersected high-grade mineralisation adjacent to previously reported indicated resources and could link the current indicated resource estimate to a part of the inferred resource at depth, said the AIM-traded company.
"The high-grade nature of hole TOD-041 is hugely pleasing and gives the team confidence in the deposit's tenor and continuity at depth,” said executive chairman and acting chief executive Myles Campion.
“We believe that this hole in combination with hole TOD-042 will enable Europa Metals to incrementally add to the existing indicated resource portion of the deposit, thereby giving additional scope for utilisation in further studies."