Toral is demonstrating itself to be a highly robust lead, zinc and silver project located in a first world jurisdiction.
Laurence Read, chief executive
How is it doing
Europa Metals Limited (LON:EUZ) revealed a scoping study in March projected an internal rate of return (IRR) of 24.4% with total capital expenditure put at US$110mln.
The study was based on a previous JORC compliant resource estimate comprising 16 million tonnes in the Inferred category, equating to 640,000 tonnes of zinc, 510,000 tonnes of lead and 13 million ounces of silver.
Raised £960,000 in March to fund resource definition drilling.
Plans in 2019 also include an infill drilling campaign; completion of the first metallurgical test work programme; commencement of environmental studies and hydrogeological characterisation.
In August, Europa revealed that a third hole drilled at Toral had giving visual indications of mineralisation over a width of 12m, with additional layers of metal an unexpected bonus.
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Resource definition drilling to identify characteristics of metals in the concentrate
Drilling in high-grade areas alongside metallurgical work to upgrade resource to indicated status
Changes to regulations governing the use of land for mining in north-west Spain’s Castilla y Leon region can give a boost to Toral
Recently shifted primary listing to AIM from ASX to reflect focus on Europe and where shareholders are largely based. Europa still has listing on Johannesburg’s AltX market.