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Summary
- EPM strengthened Board with addition of Mr Pedro Kastellorizos as Non-Executive Director, holding extensive exposure to the Northern Territory.
- Mr Kastellorizos, a geologist, is highly exposed to uranium mineralisation in Arnhem Land.
- New Director’s local contacts and network would be vital for Devil’s Elbow U-Au-Pd Deposit, for which EPM secured EL27584 and plans drilling activity in 2020.
Australian mineral exploration company, Eclipse Metals Limited (ASX:EPM), on 23 June 2020, announced the appointment of Mr Pedro Kastellorizos as an Independent Non-Executive Director. The new appointment to EPM Board is effective from 1 July 2020.
Mr Kastellorizos brings on Board his extensive experience in the Northern Territory and multi-commodity exposure including uranium. It is worth mentioning that recently Eclipse Metals was granted EL27584 at the Devil’s Elbow U-Au-Pd deposit.
Must Read: Eclipse Metals’ Stock Skyrockets 12.5% on Bourses Post Grant of Devil's Elbow EL27584
The new Board member update seems to have garnered ample market and media attention, as the EPM stock advanced further by 14.286% to settle at $0.008 a share on 23 June 2020. In the last three-month period, the stock has delivered a return of 133.33%.
Perfect Timing, New Director Critical for Devil’s Elbow Project
Mr Kastellorizos holds an extensive experience of more than 22 years as a geologist. His experience includes multi-commodity exploration, underground mining, geological programs and interpretation, tenement trading and corporate management. In the past, he has worked with several listed entities in Australia and the UK, holding Board positions at Batavia Mining Limited, Genesis Resources Ltd, and Regency Mines PLC.
The growing call for a global shift to clean energy has been reflected in the recent bull run in uranium prices. And, grant of the exploration licence at Devil’s Elbow Project could enable the project to emerge as a major asset generating extensive value for the company and its shareholders, in addition to the local community.
Uranium & Northern Territory Exposure, Extensive Local Contacts and Network
During his tenure of over two decades, Mr Kastellorizos served as senior exploration geologist and underground geologist for Afmeco Mining & Exploration Pty Ltd, Burnside Operations Pty Ltd and Northern Gold NL in the Northern Territory.
At Afmeco Mining & Exploration, he was extensively involved in uranium exploration activities in Arnhem Land of the Northern Territory. In the past, he has been associated with the Northern Territory Geological Survey, focussing on the Arnhem Land region.
The au courant audience must know that the Devil’s Elbow Uranium-Gold-Palladium project is located within the Arnhem Land’s world-class Alligator Rivers Uranium Field, almost 60 kilometres from Rio Tinto’s (ASX:RIO) Ranger Uranium Mine.
Mr Kastellorizos’ expertise and knowledge of uranium mineralisation styles would be substantially beneficial for Eclipse Metals with mineralisation within the highly prospective exploration licences held and applied by the Company in the West Arnhem Land.
Eclipse Metals believes that in addition to his technical abilities and exposure to the Northern Territory, Mr Kastellorizos’ local contacts and network would play a crucial role in exploration and development of the Devil’s Elbow deposit.
EPM is pleased to announce the addition of Mr Kastellorizos to the Board and believes that his extensive exploration, mining and production experience and knowledge will perfectly complement the existing Board skills to optimally advance the Devil’s Elbow U-Au-Pd project for generating long-term value for shareholders.
(All financial information pertains to Australian currency, unless stated otherwise)
