High Grade Gold In Maiden Drilling at Twin Hills

HIGHLIGHTS

• High grade gold in composite samples returned from the Company’s maiden drilling program at Twin Hills Gold Project
• Significant results from 4 metre composites include: 8m @ 2.66g/t Au from 40m including 4m @ 3.62g/t Au from 44m (THRC014); 4m @ 1.18g/t Au from 32m (THRC015); and 12m @ 0.62g/t Au from 40m including 4m @ 1.10g/t Au (THRC008)
• Mineralisation is open in all directions
• Validation of exploration model confirmed highlighting the prospectivity of structures underlying the three priority auger anomalies
• Program of Works application lodged for priority follow-up RC drilling

The Directors of eMetals Limited (ACN 142 411 390)(ASX:EMT)(eMetals or the Company) are pleased to announce the results of the Company’s first reverse circulation drilling program at its wholly owned Twin Hills Project (Project) in the Eastern Goldfields region of Western Australia. This announcement details the assay results of composite sampling from reverse circulation (RC) drilling undertaken in January 2021. Results of single metre sampling of quartz and sulphide bearing intervals are pending and will be reported when re-assaying of samples is complete.

Drilling has intersected high grade lode gold mineralization from scout RC drilling of auger geochemical anomalies defined by field work in 2020. Significant high grade assay results have been returned from an area 5 kilometres north of the Twin Hills gold mine (excised), from 4m composites sampling, with results of up to 4m @ 3.6g/t Au (THRC014, 44-48m) within an 8 metre zone of mineralization at 2.66g/t Au (from 40m).

The mineralization is hosted within greenstone and felsic porphyry and is open in all directions within a 400m long auger geochemical anomaly of 6ppb Au. Several other auger geochemical anomalies were tested and further drilling is required.

eMetals Director Mathew Walker commented:

“The composite sample results received by the Company have exceeded expectations with high grade gold returned from one RC hole and several new anomalous results returned from several other drill holes. Our search for repetitions of the Twin Hills gold shoot is off to an excellent start and further aggressive exploration is planned in the near future.”

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