20th Sep 2018 07:59
LONDON (Alliance News) - Europa Metals Ltd said on Thursday re-logging has resulted in an increase in its JORC mineral resource estimate for the Toral lead-zinc-silver project.
Re-logging of historic drill core held at the National Litoteca from the Toral project resulted in "significantly higher bulk density measurements" than those used for the maiden resource estimate, said Europe.
This increase in bulk density values values applied to samples and their spatial distribution resulted in a "material change" to the estimation of the source.
There has now been a 19% increase in Toral's zinc equivalent inferred resource to 19 million tonnes, at 6.9% zinc equivalent including lead credits and 24 grams per tonne of silver.
There has also been a 7% increase in contained tonnes of zinc to 720,000, a 6% increase in contained tonnes of lead to 570,000, and an 8% increase in contained ounces of silver to 14 million ounces.
The maiden estimate, announced in February 2018, had seen 16 million tonnes of zinc equivalent inferred resource - also at 6.9% zinc equivalent including lead credits though with 25 grams per tonne of silver - 670,000 tonnes of zinc, 540,000 tonnes of lead and 13 million ounces of silver.
"The significant increases in estimated contained lead, zinc and silver within our Toral Project has been delivered by the Europa Metals team through highly focussed and cost-effective work," said Executive Director Laurence Read.
Read added: "In addition to our ongoing scoping study work and drill campaign at Toral, the team is continuing to analyse the recent information obtained from the historic core in order to provide new insight into the structure of the deposit."
Related Shares:
Europa Metals