EMS - Eastern Metals

[System]

Eastern Metals 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' flagship assets, acquired from Kidman Resources (now owned by Wesfarmers), 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 1.3-1.4% zinc, 0.6- 0.7% lead, 9-10g/t silver and 0.2-0.3% 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.

It is anticipated that EMS will list on the ASX during October 2021.

Eastern Metals Ltd

easternmetals.com.au

 

[Dona Ferentes]

Listing date	11 October 2021 11:00 AM ##
Company contact details	Eastern Metals - Home easternmetals.com.au Ph: +61 2 9290 9600
Principal Activities	Eastern Metals Limited (Company) 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.
GICS industry group	TBA
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)

 

[Dona Ferentes]

EMS opened at 23c on Day One of its ASX listing ..... traded mainly around this and closed at 24c

 

[Dona Ferentes]

Barry FitzGerald - Garimpeiro ; 12 stocks in 12 different commodities to stuff in the Xmas stocking ... The focus has been finding those with leverage to exploration success and/or enhanced development prospects because of some of spectacular commodity price gains in 2021, and what 2022 [may have] in store.

ZINC – Eastern Metals (ASX:EMS): Trading at 19c for a market cap of $10.7m. A lightly capitalised explorer holding about $6m in cash to fund its 2022 exploration program across base and precious metals interests, with a potential lithium leg part of its story. Immediate interest is in a likely mid-January start to a drilling campaign at the advanced Browns Reef zinc-silver-lead project in central NSW.

It is the one that comes with an exploration target of 27-37mt grading 1.3%-1.4% zinc, along with other metals. The drilling will be zeroing in on higher grade mineralisation which could sweeten up project economics.