European Metals Corp.

June 29, 2015 08:00 ET

European Metals Corporate Update

TORONTO, ONTARIO--(Marketwired - June 29, 2015) - EUROPEAN METALS CORP. ("EMC" or the Company") (CSE:ECU) is pleased to provide an update from its operating partner, Westcork Copper Mining Company Ltd. ('Westcork') in relation to its prospecting permits in the historic Allihies copper district, County Cork Ireland.

Westcork's 65.25 square kilometres under permit include five historic high-grade mines -- the Mountain, Dooneen, Kealogue, Caminches and Coom mines which collectively, at one time, were the largest suppliers of copper to the British Empire. These areas have never been properly explored using a full suite of modern exploration and development tools.

Historical figures of estimates of mined material from these mines range from 962,000 tonnes to 1,219,000 tonnes, with grades ranging from 2.3 per cent to 3 per cent. The average historical copper grade for the ore zone at the Caminches mine, which varied in average width from 2.4 to four metres, was reported to be 10 per cent along a 174-metre vertical section (Mathews, 1964).

Between 1813 and 1913, published figures indicate that 290,170 tonnes of concentrate were produced from the Allihies mines, yielding 28,615 tonnes of copper metal. (One metric tonne equals 2,204.6 pounds.)

EMC has recently extended its option agreement with Westcork as operator, together they are preparing to assess available information, which will help to form the basis of a work program plan going forward. The goal of the work program is to prove with modern exploration techniques that there is a potentially larger porphyry system at depth that connects each of these historic high-grade copper vein mines.

Westcork has already performed work including a ground magnetometer survey between the Mountain mine and Coom mine, and between the Caminches and Kealogue mines. In addition, Westcork undertook a structural lineament satellite imagery study, and conducted a VLF survey between the Caminches and Kealogue mines, as well as VLF surveys over the Mountain mine, and other select areas.

These reports are now being evaluated by EMC for analysis. The company anticipates releasing its analysis over the coming weeks, which are designed to form the basis of a proposed work plan.

Westcork's commissioned technical report, adhering to 43-101 reporting standards in June of 2010, but never filed, notes, "The Allihies district and the immediate mine environments of the area are very much under-explored... On a local scale, old mine environments offer excellent exploration targets, for down dip extensions of known zones and for potential sub-parallel zones. The Mountain, Caminches and Kealogue mines present such potentials, and being located within a 900-meter radius of each other have the advantage of being developed by a central infrastructure. On a regional scale, the favourable geological setting of the Allihies district warrants regional contemporary geological and geophysical assessment."

EMC is excited by the potential of the Westcork permits which host proven past production and resources. Ireland is a very favourable and friendly jurisdiction for mining exploration and sits on the doorstep of Europe which should have a growing appetite for base metals as global economies recover and macro-economic trends continue to point to development and growth, and programs are put into place by European governments to initiate crucial replacement programs for major infrastructure.

Walter Hanych P. Geo, chief project geologist, has reviewed and approved all technical information in this release.

The CSE has not reviewed, approved or disapproved the content of this press release.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of European Metals Corp., including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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