Mining

E2 Metals shares soar 270% on first Mia drill results

E2 Metals’ stock was trading up 273% at Wednesday’s close on the ASX

The hole is located 50m southeast of previously reported high-grade mineralisation in hole CORC-36, which returned 8m at 7.64gpt Au, 216gpt Ag.

“This intercept confirms Mia to be a genuine new greenfields discovery. Preliminary interpretations suggest bonanza mineralisation is controlled by the intersection of east-west and northwest veins and structures. True thickness is not yet known,” the company said in a press release.

E2 Metals’ stock was trading up 273% at Wednesday’s close on the ASX. The company has a A$77 million market capitalization.

Conserrat is centred 15km along trend from AngloGold Ashanti’s world-class Cerro Vanguardia gold and silver mine, current and historical reserves of 8.9Moz Au, 137Moz Ag.

“The recent drill results at Mia exceed our expectations and compare with the best gold and silver epithermal vein systems globally with respect to the grades and thickness,” said E2 Metals managing director Todd Williams. “The depth to mineralisation provides further encouragement being only 50 vertical meters below the surface.”

“This is a watershed moment for E2 Metals that confirms the outstanding potential of the Conserrat project, with many Mia-style vein targets still to test.”

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