, the European lead-zinc explorer, told investors on Monday that it has mobilised its diamond drilling rig to site at its Toral lead-zinc-silver project in Northern Spain.
The company said that the drilling campaign expected to commence in the next five days.
Laurence Read, Executive Director of Europa Metals said: "The aim of the diamond drilling into the high grade core of Toral is to upgrade the resource from its existing inferred categorisation and to determine the metallurgical characteristics of Toral.”
“Over the next two quarters we are expecting to announce the results from the drilling, an updated JORC resource, and details of the likely product types that can be produced from Toral.”
He added that the company will use the drilling and metallurgical results to advance the processing design and start discussions with potential offtakers.
Shares in Europa Metals were trading 17.24% higher at 0.017p on Monday after the announcement
The rig and operating crew is being supplied by Sondeos y Perforaciones Industriales de Bierzo SA, overseen by the Company's on-site exploration team.
The metallurgical testwork is to be conducted by Wardell Armstrong LLP and a revised independent (JORC) resource update is to be carried out by Addison Mining Services Limited.
Follow News & Updates from Europa Metals here:
Tlou's Managing Director, Mr Tony Gilby said “The Company will now progress with additional work on the ground to deliver a Gas-to-Power solution that can bring significant benefits to the country and to our shareholders. I look forward to updating the market as we continue to develop the project."
Tone Goh, Executive Chairman of GST, commented: "The Company is delighted to have signed this LOI with SIAM. SIAM are one of Thailand's leading business groups and we look forward to working with them to progress this planned data centre project.”
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