The company said the findings of the study are positive with a recommendation that the Toral project should be progressed towards a feasibility study.
Europa Metals (ASX,LSE:EUZ) has announced the results of an independent scoping study completed in accordance with JORC 2012 for its wholly owned Toral project located in the Castilla y León region, Northwest Spain.
The company said the findings of the study are positive with a recommendation that the Toral project should be progressed towards a feasibility study to determine full economics, technical and environmental parameters for an underground mining operation focussed on near-term recovery of the higher-grade mineralized zones.
As highlighted in the press release:
- Positive scoping study completed for Europa Metals’ Toral lead, zinc and silver project
- Three conceptual underground mining development and production scenarios considered throughout the Study
- The conceptual scenario selected progresses decline access ramp with a high grade focus
- Key Recommendations: Infill drilling campaign to convert resources to the Indicated category (JORC 2012), metallurgical and geotechnical test work and progression to a full feasibility study
The company also released a revised JORC resource estimate:
An updated JORC (2012) resource estimate is included within the Scoping Study comprising 16 million tonnes, in the Inferred category, at 7.5 percent zinc equivalent (lead-silver), 3.9 percent zinc, 3.1 percent lead and 24 grams per tonne (g/t) silver equating to 640,000 tonnes of zinc, 510,000 tonnes of lead and 13 million ounces of silver. The reduction in the resource is due to a coordinate anomaly on the licence area, discovered during the verification process on the final draft of the scoping study, that resulted in an error and subsequent shift in the historical licensing coordinates. The area that now falls outside the Toral licence is the NW tip of the resource, however the company will be able to make an application to bring it into the Toral licence area upon the future granting of a mining licence for the Toral project. In any event, this area of the resource was considered to be outside of the company’s focus due to its proximity to the River Sil and its shallow narrow intersection characteristics.