All of the planned Phase 1 reverse circulation (RC) drilling on Europa Metals Ltd’s (LON:EUZ, ASX:EUZ) Toral project in northern Spain has been completed.
Samples from the drilling programme are currently being sent to external laboratories for independent analysis.
WATCH: Europa Metals Ltd - Proactive Investors Mining Capital Conference November 2018
A diamond drilling programme will now commence that will target key areas situated within the existing resource area.
Following sustained work on an initial scoping study for the Toral project, the following elements have been identified and established as development options for a potential future mining operation at the Toral site:
- adoption of a cut and fill method of mining in order to reduce waste and footwall dilution;
- decline entry followed by a raised bore production shaft (reduced shaft cost and expenditure on raised bore commenced only at a time nearer to future production);
- standard two-stage flotation process – depressing the zinc and floating the lead;
- fully mechanised utilising an appropriate level of technology for a project of Toral's size;
- requisite permitting and environmental pathways determined and/or underway
“The majority of the key elements of the proposed mine design have been assessed and completed for a potential future mining operation at Toral and new data sets are currently being inputted to enable [mining consultant] AMS to complete its scoping study," said Laurence Read, the executive director of Europa Metals.
Myles Campion, the technical director of Europa, said progress on the scoping study is helping the company narrow its focus at Toral and “is providing us with the incentive to proceed, ahead of schedule, with our planned Phase II work programme”.
Shares in Europa were unchanged in mid-morning trading.