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EuroPacific Metals announced an amendment to its partnership agreement with BMP Holding and Indice Crucial Lda for the Barrancos Copper-Gold project and two new gold properties in Portugal. The revised terms simplify the acquisition process, reducing cash expenditures and accelerating exploration efforts. EuroPacific will now need to pay €15,000 in cash, issue 500,000 shares, and 500,000 warrants to increase its stake to 60%, followed by another €15,000 cash payment to reach 80%. The remaining 20% can be acquired for €800,000 within five years of obtaining a mining license. The amendment replaces the original three-stage share transfer plan, optimizing financial and operational efficiencies.
EuroPacific Metals announced initial assay results from the first drill hole at its Miguel Vacas copper deposit in Southern Portugal. The first hole, EBMV001, revealed a continuous intercept of 22.8 meters grading 2.76% copper, including 9 meters at 7.49% copper. The drilling program confirmed the presence of high-grade copper mineralization and opened potential new extensions to the north. Five holes have been completed so far, with all showing significant mineralization. Initial core recovery issues were mitigated with improved techniques, raising recovery rates from 65% to 87%. The program aims to define a shallow, open-pit copper resource recoverable through hydrometallurgical methods.
EuroPacific Metals Inc announces the initial drill intercepts from the 2024 exploration drill program at the Miguel Vacas mine area targeting a shallow high-grade copper deposit. The first two drill holes revealed a broad mineralized interval with copper secondary minerals and the presence of a NW-SE fault potentially extending the mineralized zone. The company is progressing towards defining a shallow open pit resource of oxide copper mineralization. Karim Rayani, CEO, expresses satisfaction with the progress made and anticipates an initial resource estimate soon. The drill program aims to have a minimum of 1,500 meters of ore drilling.
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