Europa Metals Ltd (AIM:EUZ, JSE:EUZ) said the immediate plan when its proposed acquisition of Viridan and its Tynagh site in Ireland is completed, is to conclude a definitive feasibility study and apply for an operating licence for the re-cycle and reclamation project.
“In addition, we will conduct exploratory drilling on the historical hard rock resources within the lease, looking to upgrade the zinc/lead/silver resources to a 43-101/JORC standard and also define further the significant copper intersections previously drilled,” Europa said alongside its full-year results.
The junior announced the Viridian acquisition last month alongside the disposal of its Toral project to partner Denarius Metals in a C$3.5 million all-share deal.
For the year to end June 2024, Europa posted a loss of US$632,000 against US3.3 million a year earlier.
Shares in Europa are suspended pending the completion of the Viridian deal, which is classed as a reverse takeover.