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EUROPA METALS LIMITED - Rig mobilised to site for commencement of drilling at the Toral Project

Release Date: 13/05/2019 08:05
Code(s): EUZ     PDF:  
 
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Rig mobilised to site for commencement of drilling at the Toral Project

Europa Metals Ltd
(Formerly Ferrum Crescent Limited)
(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
("the Company")



Rig mobilised to site for commencement of drilling at the Toral Project

Europa Metals, the European lead-zinc explorer, is pleased to announce that a diamond drilling rig
(the “Rig”) has been mobilised to site at the Toral lead-zinc-silver project (“Toral” or “the Project”)
located in the Province of Leon, northern Spain. The drilling campaign is expected to commence in
the next five days.

The core objectives of the drilling campaign commence are as follows:

       1. Drill into the high grade core of the Project, as defined within the existing inferred JORC
          (2012) resource;
       2. Target high grade areas within the defined resource to further the Company’s
          understanding of the Project, with the aim of increasing confidence in the resource
          estimate and attain the indicated resource category; and
       3. Obtain a significant sample for metallurgical testwork by independent consultants to
          determine the potential Zn, Pb and Ag concentrate composition from Toral. It will provide
          additional data to assist process plant design and discussions with potential offtake
          parties.

Rig mobilisation
The Rig and associated operating crew is being supplied by Sondeos y Perforaciones Industriales
de Bierzo SA and will be overseen by the Company’s on-site exploration team. The campaign will
be conducted using a single drilling rig with assays sent for independent analysis on a rolling basis.

Addison Mining Services Limited (“AMS”) has been retained to carry out a revised independent
resource update in accordance with JORC (2012) once the campaign has been concluded.

Wardell Armstrong LLP has been engaged to conduct the metallurgical testwork from a
representative sample taken from the drilling.

Commenting today Myles Campion, Executive Director of Europa Metals said:

“We look forward to taking this step towards increasing our knowledge of the high grade portion of
Toral over the coming months. This drilling programme is designed to obtain a portion of the core in
order to provide a sample for the first metallurgical testwork, and to elevate the resource estimate to
the indicated category.”
Commenting today 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. Taken together,
we believe that these key milestones will allow us to advance the processing design and commence
discussions with potential offtakers.”



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
Laurence Read, Executive Director (UK)
T: +44 (0)20 3289 9923

Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler
T: +44 (0)20 7409 3494

Turner Pope Investments (TPI) Limited (Joint Broker)
Andy Thacker
T: +44 (0)20 3621 4120

Brandon Hill Capital (Joint Broker)
Jonathan Evans/Oliver Stansfield
T: +44 (0)20 3463 5000


Sasfin Capital Proprietary Limited (a member of the Sasfin group)
Sharon Owens
T (direct): +27 11 809 7762

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.

United Kingdom
13 May 2019

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