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Europa Metals starts prep for new drilling at Toral project in Spain

Toral is seen as a low capital cost project with "potentially highly attractive" economics

Europa Metals Ltd - Europa Metals starts prep for new drilling at Toral project in Spain
Drilling will soon start in north west Spain.

Europa Metals Ltd (LON:EUZ) has started mobilisation ahead of a diamond drilling campaign at the Toral project in north west Spain.

The drill programme is aimed at a target area to the west of the project’s existing resource zone.

It aims to prove up additional resources and upgrade confidence in the resource numbers.

At the same time, a separate geotechnical programme will assess sub-surface conditions in the resource zone to advance further mine planning and design work.

READ: Europa “formalising and developing” stakeholder engagement at Toral

"A targeted additional drilling programme will shortly commence assessing at an area to the immediate west of the current Indicated part of the defined resource estimate at the Toral Project, which is host to a large amount of historical drilling,” Laurence Read, executive director of Europa Metals said in a statement.

Read added: “Whilst we look forward to the results from such further drilling campaign, the geotechnical and hydrogeological work programme, combined with the forthcoming metallurgical results, are both fundamental next steps for de-risking the mine development pathway for the Toral project.”

Additionally, geotechnical and hydrogeological drilling is scheduled for the first quarter of 2020. This work will inform the planning of future exploration drill programmes.                 

Consultant Wardell Armstrong continues to progress metallurgical programmes which are in the final phase and are on schedule to complete later in the current quarter. Completion of this work is expected to be a significant step forward in de-risking and optimising Toral.

Read added: “we shall use the findings to begin optimising what we believe to be a low capex project with potentially highly attractive operating margins and a significant silver component."

Quick facts: Europa Metals Ltd

Price: 0.0185 GBX

Market: AIM
Market Cap: £3.09 m

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