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EuroPacific Announces Start of 2024 Drill Program Targeting Shallow High-Grade Copper Deposit at Miguel Vacas

Wednesday, 10 April 2024 01:10 PM

Europacific Metals Inc.

VANCOUVER, BC / ACESSWIRE / April 10, 2024 / Europacific Metals Inc. (TSXV:EUP)(OTCQB:AUCCF) (the "Company" or "EuroPacific") announces the start of the 2024 exploration drill program at the Miguel Vacas mine area located approximately 180 km east by road from Lisbon and approximately 70 km east from Évora, the Alentejo region capital. The 2024 drill program encompasses a minimum of 1,500 meters of ore drilling with the objective of further defining initially a shallow open pit resource of oxide Copper mineralization which will be followed by step out drilling on the deeper (> 80m) sulphide ore. Crews are onsite, and drilling has begun on April 6, 2024.

Karim Rayani, Chief Executive Officer, stated "We are pleased to announce the commencement of drilling at the Miguel Vacas Copper project located in Portugal. This program is designed to test structural framework while confirming the mineralization zone while expanding its potential. We are proceeding initially for eleven drill holes to confirm the extensions, and quality of the oxidized blanket amenable for an open pit heap leaching operation. We look forward to reporting back as operations continue."

The Miguel Vacas target is located within a large, 328 square kilometers exploration license, Borba 2, which has a well-documented potential to host precious and base metals mineralization. The mineralized systems are enhanced by the presence of abundant Au and /or Cu mineral occurrences in shear zones hosted in Devonian and Silurian metasediments and in epithermal systems associated with intra-Ordovician volcanics.

The mine is surrounded by extensive marble exploitations that do not interfere with the exploration areas. On the contrary the presence of these operations is considered to be a positive factor because of the excellent acceptance by the local marble operators of a mining group like EuroPacific and by their logistical support always available both in infrastructures and potentially mining equipment.

Drill Program Details

  • The actual campaign will be driven based on previous drilling and analysis that showed significant high-grade copper mineralization that has continuity with historical drilling, over wide intervals (up to 6.7 m grading 2.57 % Cu in hole BOMV-4001). Please refer to EuroPacific News Release dated March 28, 2024, for more detailed assay results.
  • The mineralized system extends on at least 2 km along l strike and is open at depth. The plan includes a total of 11 shallow holes to confirm previous results and detail the morphology of the oxidized blanket in order to outline a resource estimation over an initial segment of approximately 1,200m. A deep undercut hole is also planned to test the deeper sulphide zone for further follow-up.
Figure 1 - Drilling of first hole GPDM-001 of the 2024 campaign. South end of the old pit Miguel Vacas pit. The pit is oriented NNW-ESE.
Figure 2 - Location and Geology map. Drilling: past and planned for 2024 campaign

About Europacific Metals Inc.

Europacific Metals Inc. is a Canadian public company listed on TSXV and in US on OTCQB. The Company holds brownfield gold, and copper-gold projects located in Portugal. The Company is focused on exploration in highly prospective geological settings in Europe jurisdictions. EuroPacific Metals ("EUP") owns a total of 100% equity interest in EVX Portugal, a private Portugal based company, that holds the legal exploration rights from the Portugal Government on the Borba 2 ("Borba 2") exploration properties, covering approximately 328 square kilometers in the Alentejo region in Southern Portugal. Miguel Vacas is the most advanced prospect within the Borba 2 license.

Qualified Person

Technical information in this PR has been prepared in accordance with National Instrument 43-101 and approved for inclusion by Mr. José Mario Castelo Branco, EuroGeol, who is a "qualified person" with over 35 years' experience in the Exploration and Mining Geology industry. Mr. Castelo Branco holds a B.Sc. in Geology from the University of Porto in Portugal. He is also a member of the Portuguese Association of Geologists, the European Federation of Geologists, Member of the Prospectors and Developers of Canada, the Society of Economic Geologists and the Society for Geology Applied to Mineral Deposits.

On behalf of the Board of Directors

Europacific Metals Inc.
Mr. Karim Rayani
Chief Executive Officer, Director
1100 - 1111 Melville Street
Vancouver, BC V6E 3V6
E: [email protected]

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the exploration potential of the Company's properties. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. These forward-looking statements involve risks and uncertainties relating to, among other things, results of future exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices and unanticipated environmental impacts on operations. Although the Company believes current conditions and expected future developments and other factors that have been considered are appropriate and that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned to not place undue reliance on forward-looking information. The statements in this press release are made as of the date of this release. Except as required by law, the Company does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The readers should not rely on any historical estimates. The Company and the QP has not done sufficient work to classify historical estimate as a current resource. Company is not treating the historical estimate as a current resource. Additional work including drilling will be required to verify and upgrade historical estimates.

SOURCE: Europacific Metals Inc.

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