The Directors of eMetals Limited (ASX:EMT)(eMetals)(Company) wish to provide an update to shareholders on the Company's recent exploration activities at the Poona Project which hosts the Mughal nickel prospect and the Raj tantalum prospect. A total of seven reverse circulation holes was completed for 860 metres over both project areas, refer Appendix 1 and 2.

Drilling at Mughal comprised a total of five RC holes for a total of 681 metres with hole depths ranging from 90 to 168 metres which tested Ni-Cu-PGE geochemical anomalies coincident with discrete moving loop EM conductors located along the northern contact of the prospective stratigraphy.

Drilling at Raj comprised a total of two RC holes for 179 metres with hole depths of 80 and 99 metres which tested a pegmatite target. Assays for this drilling remain outstanding and will be released to the market as soon as available.

Regrettably the results from Mughal were disappointing and no anomalous values of nickel or copper were returned. Pyrite was recorded in a number of the drill holes with sulphur values up to 6% being returned and coinciding with the anomalous geophysical results.

The Company will now review the potential of the Poona Project given the recent exploration results to determine any future activities. Near term activity will now focus on the Cowalinya Rare Earth Project and the Twin Hills Gold Project where recent drilling discovered a high-grade intercept of 5m @ 23.67g/t Au from 62m.

Figure 1 Poona Regional Plan


The Mughal Prospect is a greenfields nickel, copper and platinum group element prospect which eMetals Limited has developed on its 90% owned Poona Project, near Cue, Western Australia.

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