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Drilling results
Europa Metals Ltd
(Incorporated and registered in Australia and registered as
an external company in the Republic of South Africa)
(Registration number 4459850)
(External company registration number 2011/116305/10)
Share code on the ASX: EUZ
Share code on AIM: EUZ
Share code on the JSE: EUZ
ISIN: AU0000014342
("Europa Metals" or “the Company”)
Drilling Results
Europa Metals, the European focused lead, zinc and silver developer, is pleased to announce the
first assay results from its ongoing infill diamond drilling programme being conducted by Explomin
Perforaciones UE S.L. (“Explomin”), at the Company’s 100% owned Toral Pb, Zn & Ag project
(“Toral” or the “Toral Project”). This drilling programme forms part of the 2023 exploration campaign
agreed by Europa Metals Ltd (“Europa Metals” or the “Company”) and Denarius Metals Corp
(TSXV:DSLV; OTCQX: DNSRF) (“Denarius”) pursuant to the definitive option agreement dated 22
November 2022, further details of which are set out in the Company’s announcement of 23
November 2022.
Highlights:
• Significant intersection from drillhole TOD-043 of 8.70m@11.03% ZnEq(PbAg)*, including:
- 3.10m@20.35% ZnEq(PbAg)*
• Hole TOD-043 has been successful in intersecting high grade mineralisation adjacent to an
existing, previously reported, high grade intersection within the project’s Indicated Resource
block outlined to date.
The current focus of the drilling campaign comprises approximately 11 holes for a total of up to
7,000m, including a combination of confirmatory and infill drilling within the project’s known indicated
resource area outlined to date, of 7Mt @ 8.1% Zn Equivalent (including Pb credits), 5% Zn, 3.7% Pb
and 29g/t Ag. Once completed, the campaign’s results will then be applied to commission an updated
independent mineral resource estimate later in the year.
Commenting today, Myles Campion, Executive Chairman and acting CEO of Europa Metals
said:
“The first drill hole of our infill and confirmatory campaign has illustrated the robust nature of Toral
and the current indicated resource. Hole TOD-043 has displayed a thick, well mineralised
intersection in keeping with the existing holes in the area. We look forward to providing further
updates as we progress through the rest of the drilling programme as results become available”.
The drilling parameters for the assay results reported for hole TOD-043 are presented in the table
below:
ELEVATION LENGTH
HOLE_ID EASTING NORTHING COOR_SYS
(m) (m)
TOD-043 681197 4710037 531.78 491 ETRS89utm29
Hole TOD-043 was drilled with a PQ-HQ diameter, with half of the core being sent for independent
analysis at ALS Laboratories. The assay results received are set out in the table below:
Hole_ID From To Interval Zn_% Pb_% Ag_ppm Cu_% ZnEq(PbAg)%*
(m)
TOD-043 472.00 480.70 8.70 1.66 9.43 44.28 0.05 11.03
TOD-043 475.70 478.80 3.10 1.20 19.47 83.90 0.09 20.35
(included)
* - ZnEq(PbAg)% is the calculated Zn equivalent incorporating lead and silver credits; (ZnEq(PbAg)% = Zn +
Pb*0.926 + Ag*0.019). Zn equivalent calculations were based on 3-year trailing average price statistics obtained from
the London Metal Exchange and London Bullion Market Association giving an average Zn price of US$2,680/t, Pb
price of US$2,100/t and Ag price of US$16.2/oz. Significant Zn Eq intercepts were generated using a 1% Zn Eq
trigger value, minimum width of 1m, maximum consecutive waste interval of 1m, minimum average Zn Eq grade less
than1%.
Image 1: Positioning of hole TOD-043 which image is available for viewing on the following link:
https://www.londonstockexchange.com/stock/EUZ/europa-metals-ltd/analysis
Drilling operations are ongoing, in line with the objective set out above, and further assay results will
be announced once processed and received. Hole TOD-044 has been completed with assays having
already been sent to the labs and TOD-045 and TOD-046 are currently being drilled with targeted
depths of approximately 610m and 810m respectively.
Competent Person’s Statement
The exploration results and activity reported in this announcement have been compiled and reviewed
by Mr Luis J. Pérez who is a Member of the Australian Institute of Geoscientists (AIG) and a
European Geologist (EurGeol). Mr Pérez has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (‘JORC Code’). Mr
Pérez consents to the inclusion in this announcement of the matters based on his information in the
form and context in which it appears.
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, Executive Chairman and acting CEO (UK)
T: +44 (0)20 3289 9923
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler/Abigail Wennington
T: +44 (0)20 7409 3494
WH Ireland Limited (Broker)
Harry Ansell/Dan Bristowe/Katy Mitchell/Sarah Mather
T: +44 (0)20 7220 1666
JSE Sponsor to Europa Metals
Questco Corporate Advisory Proprietary Limited
Danielle Christodoulou
19 May 2023
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 by virtue of the
Market Abuse (Amendment) (EU Exit) Regulations 2019.
Date: 19-05-2023 08:18:00
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