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EMS - EASTERN METALS LIMITED


nipper
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Eastern Metals Ltd (EMS) is an Australian base and precious metals exploration company which owns three Projects in the Northern Territory and New South Wales. These are the Arunta Project in the Northern Territory, and the Cobar and Thomson Projects in New South Wales. Each of these Projects consists of from one to three granted exploration licences.

 

Eastern Metals has flagship assets acquired from Kidman Resources (now owned by Wesfarmers); these are the Home of Bullion deposit at Barrow Creek, part of the Arunta Project, which hosts a total Identified Mineral Resource of 2.5 million tonnes averaging 1.8% copper, 2.0% zinc, 36g/t silver, 1.2% lead and 0.14g/t gold, and the Browns Reef zinc lead silver deposit, part of the Cobar Project, which has an Exploration Target of 27 to 37 million tonnes averaging between 1.3 to 1.4% zinc, 0.6 to 0.7% lead, 9 to 10g/t silver and between 0.2 and 0.3% copper.

 

Its third Project, Thomson, has seen less exploration but has targets in basement rocks beneath younger cover. Limited past drilling has returned anomalous levels of base metal values and subtle but well-defined magnetic anomalies. The basement geology is thought to be similar to the Cobar region.

 

Listing date ............ 11 October 2021 11:00 AM ##

Company contact details .... https://easternmetals.com.au/

Principal Activities ... Eastern Metals Limited is an Australian junior base and precious metals exploration company with initial interests in three projects located in the Northern Territory and New South Wales.

 

 

Issue Price ....... AUD 0.20

Issue Type ....... Ordinary Fully Paid Shares

Security code ... EMS

 

Capital to be Raised ......... $4,500,000

Expected offer close date .... 30 September 2021

Underwriter .......... Not underwritten. Panthea Capital Pty Ltd (Lead Manager)

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