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Europa Metals raises £1mln to push ahead with Toral project

Funds will be used for resource definition drilling and metallurgy

Toral
Toral is a lead, zinc and silver deposit

Spain-focused junior miner Europa Metals Ltd (LON:EUZ) has raised just short of £1mln to fund metallurgy and resource drilling at its Toral lead, zinc and silver project.

The new equity will account for 53.4% of the enlarged share capital.

READ: Europa Metals sees changes in land use rules as positive for Toral development

Europa Metals said the drilling will allow it to define the separation characteristics of metal concentrate products for the first time.

The group yesterday welcomed changes to regulations governing the use of land for mining in north-west Spain’s Castilla y Leon region.

“The new law provides Europa Metals with a clear path to progress Toral into potential future mine development working, within the requisite new regulations," said Laurence Read, executive director.

Quick facts: Europa Metals Ltd

Price: 0.037 GBX

AIM:EUZ
Market: AIM
Market Cap: £6.13 m
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Full interview: Europa Metals starting to progress towards the development...

Europa Metals Ltd's (LON:EUZ) Laurence Read updates Proactive London after receiving the final assays from their first drilling campaign into the high-grade area at Toral in Spain. Work has now begun on an update to the JORC resource estimate for the project which is expected to take around...

3 weeks, 4 days ago

2 min read