Europa Metals shares up on latest report from Toral

Lead-zinc and silver developer Europa Metals updated the market on drilling at its wholly-owned Toral lead, zinc and silver project in the Castilla y León region in north west Spain on Friday, confirming that drill hole TOD-025 had been completed.

The AIM-traded firm said a visual review of intersected mineralisation resulted in a decision to drill beyond the original target depth of 420 metres to 497 metres.

It said an opportunity had been identified to drill a wedge, TOD-025D, which was also completed.

The company said it targeted the highest grade areas of Toral, based on the pre-existing JORC mineral resource estimate and block model, with the diamond drilling campaign which had now concluded.

Core samples would be sent for independent assay, with the results expected to be announced later in the first quarter of 2020, Europa Metals said.

“Holes TOD-024, TOD-025 and TOD-025D are located in the highest grade areas of the Toral Project, to the west of the current Indicated JORC (2012) mineral resource estimate and within the global resource zone,” the board explained in its statement.

“These holes have targeted areas to infill between historic drill holes and within areas of specific interest to the company located inside the higher grade zones of the deposit.”

At 1437 GMT, shares in Europa Metals were up 2.22% at 0.018p.