Zinc/lead explorer Europa Metals is progressing its Toral project to a full feasibility study to determine the economics, technical and environmental parameters for an underground mining operation in the Castilla y León region of Spain.
This follows the outcomes of a positive scoping study, which executive and technical director Myles Campion said on Monday was “robust and positive”.
However, the company said that the outcomes of the study would only be made available on application to the company, and added that it was not able to publish a production target or forecast financial information, as further work is required to prove up at least 60% of the estimated resource from an inferred to an indicated category.
The total inferred resource for the Toral project is about 16-million tonnes at 7.5% zinc equivalent.
"The work undertaken on the scoping study models a series of development scenarios, from which one clear path has become apparent. We shall now use the study to inform a core part of our strategy for 2019 as we aim to progress with a full feasibility study,” said director Laurence Read.
He added that Europa would announce the results from its first diamond drill campaign shortly.