Europa Metals encounters “significant intersection” at Toral project
, had a “great drilling result” on Thursday, at its Toral lead-zinc-silver project in Northern Spain, discovering a “significant intersection” with highly visible amounts of zinc and lead-silver mineralisation.
The company said that the drilling results support its theory of a high-grade plunging shoot in the core of the deposit.
The assay results will be part of a planned updated mineral resource estimate and technical report. The company aims to increase the confidence in Toral’s resource estimate to the indicated category.
Europa said it is to drill a “daughter” hole (wedge) to get an enlarged sample for metallurgical test work, as a result of the 12 metre intersection to tie in the new drill holes with the wider Toral model.
Shares in Europa Metals were trading 19% higher by midday
Commenting today, Myles Campion, Technical Director of Europa Metals, said: "This is a great drilling result, currently only visual, but a 12m mineralised intersection supports the theory that the orebody displays a plunging high-grade core, which is currently open at depth.”
The company had one of the most liked RNS's on Vox Markets on Thursday and posted a picture of visible mineralsation from a 12 metre intersection of drill hole TOD23:
Laurence Read, Executive Director of Europa Metals, said: "We must clearly wait to see the assay results in due course, but at present we are most pleased to have encountered this significant intersection containing highly visible amounts of zinc and lead-silver mineralisation.”
He added: “Results of this kind from our first drilling campaign into the high-grade core of Toral are extremely important. The anticipated initial Indicated resource estimate and metallurgical testwork are the cornerstones of a viable mine development alongside stakeholder engagement and consultation within the Castilla y León region."
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