REG - Europa Metals Ltd - Operational Update

Europa MetalsAnnouncement

03/05/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220503:nRSC9798Ja&default-theme=true

RNS Number : 9798J  Europa Metals Ltd  03 May 2022

3 May 2022

Europa Metals Ltd

("Europa Metals", the "Company" or the "Group") (AIM, AltX: EUZ)

Operational Update

Europa Metals, the European focused lead, zinc and silver developer, is
pleased to announce an operational update in relation to its activities at its
wholly owned Toral lead, zinc and silver project in the Castilla y León
region, Spain ("Toral" or the "Toral Project").

Highlights:

·    2022 resource drilling campaign underway; comprises a series of holes
to be drilled at depth, targeting an increase in the Company's pre-existing
JORC indicated resource estimate

 

·    Geotechnical drill programme has now been completed

 

·    Further to the excellent ore sorting recoveries demonstrated in late
March 2022, Wardell Armstrong International Ltd is nearing completion of its
rougher tests prior to embarking on locked cycle testwork

 

Commenting today, Myles Campion, acting CEO and Executive Chairman of Europa
Metals, said:

"Europa Metals continues to progress its work programme on a number of fronts.
Following a slight delay, the drill rig is now on site and I am pleased to get
our 2022 resource drilling campaign underway, which seeks to target additional
resources at depth."

 

Resource drilling

Following a slight delay to the arrival of the rig due to increased third
party exploration and rig activity in Spain, we are pleased to report that our
2022 resource drilling campaign is now underway.

The objective of this latest campaign is to seek to extend the pre-existing
indicated resource estimate at depth towards the east of the current zone and
thereby link up a known area of encouraging data. If successful, it will
enable us to increase the resource tonnage and enhance the previously
envisaged mining plan. Additionally, all holes will be geotechnically
evaluated as drilling progresses, providing additional information for the
feasibility study process.

This drilling campaign will also feed into our previously announced R&D
collaboration project with the Centre for the Development of Industrial
Technology (CDTI), which is scheduled to be concluded later this year.

Metallurgical work and ore sorting

Samples were submitted to Wardell Armstrong International Ltd ("WAI") earlier
this year, comprising both siliceous style mineralisation in the form of a
bulk sample and carbonate style mineralisation in the form of two discrete
samples.

The completed ore sorting work provided excellent results, as announced in
March 2022, demonstrating that 94% of the overall lead and zinc in the feed,
could be recovered whilst rejecting more than 43% of the original mass.

WAI is currently nearing completion of its first stage rougher tests on all
samples and will then proceed with final locked cycle testwork.

Europa Metals intends to utilise the findings and the tailings and rejects
from the metallurgical and ore sorting test work, to establish a picture of
how best the Company can use such waste products as both backfill and paste
fill for potential future quarry reclamation and underground mining
operations.

Geotechnical drilling programme

The Company has now completed the previously announced series of 5 shallow
drill holes for approximately 79m across the area earmarked as the preferred
future plant location. The aim of this programme was to provide geotechnical
measurements of the subsoil characteristics by way of performing a series of
tests. In conjunction with the drilling operations, Europa Metals' team also
collated data from trench sampling and conducted further surface tests within
the area concerned.

The information obtained from the programme and testing will be utilised to
inform ground support for future plant construction.

In-house mining studies

Europa Metals is utilising the skills of its in-house consultants to enhance
its understanding of the possible mining environment at Toral, manipulating
the new datasets with various software packages to update internal models and
assess the impact on potential future mining scenarios. This aids our
strategic planning and will also assist our planned future application for a
mining licence at Toral.

 

For further information on the Company, please visit www.europametals .com or
contact:

 

Europa Metals Ltd

Dan Smith, Non-Executive Director and Company Secretary (Australia)

T: +61 417 978 955

Myles Campion, Acting CEO and Executive Chairman (UK)

T: +44 (0)20 3289 9923

 

Strand Hanson Limited (Nominated Adviser)

Rory Murphy/Matthew Chandler

T: +44 (0)20 7409 3494

 

WH Ireland Limited (Broker)

Harry Ansell/Dan Bristowe/Katy Mitchell/Sarah Mather

T: +44 (0)20 7220 1666

Questco Corporate Advisory Proprietary Limited (JSE Sponsor)

Sharon Owens

T: +27 (11) 011 9212

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDBCGDUXXGDGDD