E2 Metals (ASX:E2M) - Managing Director, Todd Williams
Managing Director, Todd Williams
Sourced: E2 Metals
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  • E2 Metals (E2M) has seen a 122 per cent rise in its shares after announcing significant gold and silver results from its Mia Prospect
  • Mia lies within the Conserrat Project in Santa Cruz, Argentina
  • The company undertook a reverse circulation drilling program at the Mia and Patricia prospects but COVID-19 caused drilling to end early
  • While the drill hole at Patricia was scrapped, all five holes at Mia returned high-grade results
  • One hole at Mia intersected up to 37 grammes per tonne of gold and a staggering 1108 grammes per tonne of silver
  • Following today’s news E2 Metals shares have climbed 122 per cent and are trading for 20 cents each

E2 Metals (E2M) has released significant gold and silver results from drilling at the Mia Prospect in the Santa Cruz Province of Argentina.

The Mia Prospect is located in the Conserrat Project and centred 15 kilometres along trend from AngloGold Ashanti’s world-class Cerro Vanguardia gold and silver mine, which has current and historical reserves of 8.9 million ounces of gold and 137 million ounces of silver.

Reverse circulation drilling commenced at the Mia and Patrica prospects on March 13 2020. Unfortunately, due to COVID-19, the program was suspended and reduced to five holes for 400 metres.

Only one hole was started at the Patricia prospect. The drill hole, CORC-39, was terminated at 40 metres prior to reaching target depth, where the vein remains untested.

The first two holes at Mia, CORC-34 and 35, were drilled in a scissor configuration and were orientated north and south to test the intersection of the Eastern and Northern Veins.

Drilling returned mineralised intervals of two metres at 0.82g/t gold, 4.3g/t silver from 61 metres; 19 metres at 0.52g/t gold, 18.1g/t silver from nine metres; and three metres at 0.57g/t gold, 74g/t silver from 34 metres.

The following three holes, CORC-36, 37 and 38, were drilled on northeast-southwest orientated sections spaced 100 metres apart. Two holes were planned for each section to pierce the vein and host structure but COVID-19 suspended further drilling.

Hole CORC-36 returned the highest-grade drill intercept to date from the Conserrat project.

Results include; 16 metres at 3.91g/t gold, 123g/t silver from 68 metres, including eight metres at 7.64g/t gold, 216g/t silver from 76 metres and 1 metre at 36.8g/t gold, 1108g/t silver from 78 metres.

CORC-37 intersected the mineralised structure with one metre at 3.31g/t gold, 10g/t silver from the surface.

Hole CORC-38 intersected two mineralised zones including six metres at 0.65g/t gold from 10 metres and two metres at 0.76g/t gold from 37 metres.

“The Mia results are outstanding at this early stage of exploration, displaying grades and thickness typical of a high-grade ore shoot,” Managing Director Todd Williams said.

This drilling has confirmed the mineralised structure spans over a 280-metre strike length and is open to the east, northwest and down-dip.

The Mia results also demonstrate the potential for high-grade ore shoots in the project where drilling has been limited, such as Veta Blanca, Ro & Florencia, or remains incomplete at Patricia.

E2 Metals shares have gone up a staggering 122 per cent and trading for 20 cents each at 11:54 am AEST.

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