Total
0
Shares
Image Sourced ShutterStock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • E2 Metals has announced high-grade silver and medium grade gold from its Argentinian Sierra Morena site
  • The wholly owned project yielded silver grades of 204g/t, 198g/t, 102g/t, 98.4g/t and 67.2g/t among more
  • Gold was not as impressive, showing grades of 2.34g/t, 2.14g/t, 1.45g/t and 0.79g/t among others

Mining company E2 Metals has announced gold and silver grade results from its Sierra Morena project site. The 80 per cent owned Argentinian project yielded mostly high-grade silvers and medium-to-low grade gold.

Silver grades peaked at an impressive 204g/t, representing other high-scoring grades of 198g/t, 102g/t, 98.4g/t and 67.2 g/t among others.

Yielded gold from the drilling was nowhere near as impressive as the silver, peaking at 2.34g/t. Other grades included 2.14g/t, 1.45g/t, 0.97g/t and 0.7g/t among more.

Drilling was conducted over two recognised mineralised veins for 16 holes over 1,362 metres. E2 Managing Director Todd Williams says the drilling program was based on historically identified targets of easy accessibility.

“…We are particularly encouraged at the broader scale that the outcropping Eastern and Western Veins now appear to be a small part of a more extensive gold-silver mineralised system, with indications of additional mineralised veins, as well as possible larger tonnage rhyolite dome- hosted targets,” he said.

Williams added the drilling confirmed underground vein geometry for the company, highlighting mineralisation at a longer and deeper strike length.

The company stated the grade results and confirmed geometry of further mineralisation is cause for further exploration in the immediate future.

E2 conducted a 25-metre long detailed magnetic survey to define ‘blind’ structures, possible for hosting of extensive mineralisation. The data of the magnetic survey is expected in four weeks.

Shares in E2 Metals did drop 20 per cent in the market this morning, causing shares to decrease from 23.5 cents to an even 20 cents each. The company’s market cap remains at $19.09 million.

E2M by the numbers
More From The Market Herald
Kleos Space (ASX:KSS) - CEO, Andrew Bowyer

" Kleos Space (ASX:KSS) to build and launch Observer Mission

Kleos Space (KSS) has signed new contracts with satellite builder Innovative Solutions in Space (ISISPACE) and global launch services provider, Spaceflight.
Amaero International (ASX:3DA) - CEO, Barrie Finnin

" Amaero International (ASX:3DA) to make rocket motor parts for Gilmour Space

Amaero International (3DA) has secured a heads of agreement (HoA) with Gilmour Space Technologies.

" DGL Group (ASX:DGL) to buy Shackell for $8.9m

Specialist chemicals business DGL Group (DGL) has agreed to purchase Shackell Transport for $8.9 million.

" CIM propose $840M 2019 profits with digital shift

CIMIC Group Executive Chairman expects a 2019 performance of $790m  million $840 million.