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.
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.