Drilling Update: Hole TOD-022 Completed, Hole TOD-023 Commenced for Metallurgical sample, Toral Zn, Pb & Ag Project, Spain
Toral Scoping Study & Updated Mineral Resource Estimate
Lead, Zinc, Silver development Spain
Toral Lead, Zinc, Silver Project Spain (100% owned)
- Flagship project located in Province of Leon, Spain -Exploration license renewed Q4 2017 for three years
- European support infrastructure; Located near road, power, rail in traditional mining area- direct road access to existing Smelters
- Over 44,000 meters previously drilled on project in addition to a series of Europa drilling campaigns producing a JORC (2012) resource update in October 2019:
- Indicated resource of approximately 2.7Mt @ 8.9% ZnEq (including lead (“Pb”) credits) and 32g/t silver (“Ag”), at a 4% cut-off.
- 12% increase in the total resource tonnes to approximately 18Mt (at 7.4% ZnEq with Pb credits and 24 g/t Ag), at a 4% cut-off.
- 30% increase in contained tonnes of zinc to approximately 830,000 tonnes
- 12% increase in contained tonnes of lead to approximately 570,000 tonnes
- 8% increase in contained ounces of silver to approximately 14 million ounces
- JORC (2012) resource announced December 2018:16Mt @ 7% Zn - Equivalent (including Pb credits) and 24g/t Ag640,000 tonnes of Zinc, 510,000 tonnes of Lead and 13 million ounces of Silver
- Comprehensive scoping study announced December 2018 focused on:
- The conceptual scenario selected progresses decline access ramp with a high grade focus
- Mechanised Cut and Fill (MCAF) mining method proposed
- Entry to mine via a principal decline reaching various levels
- Series of internal mining inclined ramps constructed to access levels
- A ventilation raise would be drilled (raise-bored) to provide both adequate ambient conditions underground and a second, emergency means of access/egress into the mine
- Ore transported to a flotation process plant by conveyor or haul truck from the mine
and crushed to a suitable product for milling
- Milled ore floated by standard flotation technology to provide two products: lead and zinc concentrate. Silver will probably report to the lead concentrate for sale as a combined product
- 4x4 metre mine standard development size
- 4% Zn Eq cut-off used with potential for mine life extension.
Toral exploration & ownership history
55 holes and 36 deviations (36.000 m) drilling
2005-2008 Lundin Mining
7 holes (4.500 m)
2009-2011 Goldquest Mining
- soil and rock geochemistry
- old labors mapping
re-evaluation: MICON NI-43-101
2012-2015 Portex Mining Corporation
Exploration: detail mapping
2015-2016 Mineral and Financial
- soil and rock geochemistry
- old labors mapping and sampling
- Drill holes
2016-current Europa Metals
- Major data reinterpretation
- Near surface drilling campaign
- Maiden JORC Resource Jan. 2018
2018-JORC 2018 Maiden resource
- Scoping Study Completion
- RC step out campaign
- Infill drilling commenced'
Europa Metals is operating within the first year of its 3 year Investigation Permit and is undertaking a series of exploration and data analysis work streams in order to further progress its understanding of the asset. With the Scoping Study completed in 2018, Europa will look to pursue infill drilling within high-grade areas and begin metallurgical work on site in order to progress towards a full feasibility study. Whilst the Toral Project is currently at the exploration stage, the Company believes that there is sufficient understanding of the asset to justify initiating the requisite applications to convert the existing land use designation to enable the potential future development of a mine. The Company has consulted with the Junta de Castilla y León who concurred that this course of action is appropriate despite the Toral Project being at a pre-feasibility stage.
Europa Metals has engaged a specialist consultancy, MAGMA Soluciones Ambientales SL (“MAGMA”) (the “Consultancy”) to initiate and progress the requisite land use applications across three distinct municipalities overlapping the Toral Project’s licence area. This Consultancy has a 15 year track record of successfully processing and modifying municipal planning instruments for natural resources projects. MAGMA collaborates with regional government administrations to enable the management of natural and cultural resources.
Successful outcomes delivered by MAGMA have included land use rights conversions undertaken with the Municipal Urban Regulations of Valverde de la Casa, Villavieja de Yeltes, Garcibuey, Aldehuela de la Bóveda, El Cerro, Fuentes de Oñoro, Villarino de los Aires and Chagarcia-Medianero. To date, MAGMA has concluded environmental impact studies for the change/review of land use with 12 municipalities within the province of Castilla y León. The Managing Director of MAGMA and Toral Project lead, Juan Piñeiro, is also the geological representative to the Chamber of Resources of Castillia y León.
A detailed schematic of the application and reporting process to be initiated across the three municipalities is available for viewing at the following link.
In summary, the municipal process requires an initial review of the current land use and then a submission to the Town Hall (Ayunmiento) of each municipality concerned within the Toral Project’s licence area. Upon acceptance of such submissions, a series of studies and proposals/reports will be presented at municipal, provincial and federal level. The process is currently estimated to take approximately 18 months from September 2018.