06-May-2020:  8m at 7.46gpt Au & 216gpt Ag at Mia prospect, Conserrat

E2M was up +111.11% today on the back of these results.  That takes them back to their late January levels.  I'm not a shareholder and had never heard of this company before, however these are certainly interesting results:

Excerpts from the announcement:

E2 Metals Limited (E2M) is pleased to announce the results for the five-hole scout RC drilling program at the Mia prospect. Mia is located in the Conserrat project and centred 15km along trend from AngloGold Ashanti’s world-class Cerro Vanguardia gold and silver mine (current and historical reserves of 8.9Moz Au, 137Moz Ag)  Significant gold and silver assay results include: 

CORC-36:  16m at 3.91gpt Au, 123gpt Ag from 68m, including

• 8m at 7.64gpt Au, 216gpt Ag from 76m and
• 1m at 36.8gpt Au, 1108gpt Ag from 78m

• Importantly the hole terminated in mineralisation with 4gpt Au and 22gpt Ag in the final RC drill sample.
• The results demonstrate that the high-grade Mia vein (with up to 43.9gpt Au, 1128gpt Ag in surface rock samples) develops into strong mineralisation at depth.

The mineralised structure has been defined over a 280m strike length and is open to the northwest. 

• Drill holes on adjacent sections confirm the location of the mineralised structure at shallow depths.  
• Planned step back holes testing the structure at more favourable depths 50m below the surface were halted due to COVID-19.

Key results from adjacent holes include:

• CORC-35:
  • 19m at 0.52gpt Au, 18.1gpt Ag from 9m, and
  • 3m at 0.57gpt Au, 74gpt Ag from 34m
• CORC-37:
  • 1m at 3.31gpt Au, 10gpt Ag from surface 

Managing Director Todd Williams states: “The Mia results are outstanding at this early stage of exploration, displaying grades and thickness typical of a high-grade ore shoot. The results underscore the potential of Mia and the host structure that extends for over 2km to Patricia and Florencia, in addition to the district of veins at Conserrat that remain untested”. 

--- click on link above for more details ---

Not held, but perhaps one for the watchlist.  Might become a momentum stock if they keep releasing positive results like this.  They are only for the brave of course, as they are an unprofitable explorer burning through cash with a great story and plenty of promise - but no earnings.