Lead-zinc silver

Toral Lead, Zinc, Silver Project Spain (100% owned)

    • Flagship project located in Province of Leon, Spain
    • European support infrastructure; Located near road, power, rail in traditional mining area- direct road access to existing Smelters
    • 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 reinterpreted by the Company leading to a series of Europa drilling, metallurgical and geotechnical campaigns producing;
      • Indicated (JORC 2012) resource estimate of approximately 3.8Mt @ 8.3% Zn Equivalent (including Pb credits) and 30g/t Ag, representing an approximate:
      • 40% increase in Indicated resource tonnes;
      • 38% increase in Indicated contained tonnes of zinc to approximately 180,000 tonnes;
      • 36% increase in Indicated contained tonnes of lead to approximately 150,000 tonnes; and
      • 32% increase in Indicated contained ounces of silver to approximately 3.7 million ounces.
    • A total resource of approximately 17Mt @ 6.9% Zn Equivalent (including Pb credits), 4.1% Zn, 2.9% Pb and 24 g/t Ag, including:
      • 720,000 tonnes of zinc, 510,000 tonnes of lead and 14 million ounces of silver.
    • High-grade recovery results from second phase metallurgical testing conducted by WAI (April 2020):
      • 83.7% Pb recovery to a 60.0% Pb concentrate;
      • 87.1%Agrecovery to 1,350ppm Ag within Pb concentrate; and
      • 77% Zn recovery to a 59.1% Zn concentrate.

    • 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

    1972-1984 Penarroya-Adaro
    55 holes and 36 deviations (36.000 m) drilling
    1992-1995 Geominera
    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.

    Process Outline

    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.