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Europa Metals Ltd.
Summary
| Project: | Toral | |
|---|---|---|
| Deposit: | Toral | |
| Location: | Spain | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 3/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-3-2019: Europa Metals Ltd. announces a Scoping Study report for its Toral deposit at the Toral project. Scoping Study results incl. NPV of US $110M (8%), IRR of 24.4%, 15yr LOM at the project. Europa Metals, the European lead-zinc explorer, is pleased | |
| Resources: | (Resource, Inf.): 16Mt @ 3.9% Zn, 3.1% Pb, 24g/t Ag at project | |
| CP/QP: | [Overall Report]: J.N. Hogg, J Bennet (Addison Mining Services Ltd.) | |
| ABSTRACT: | Europa Metals, the European lead-zinc explorer, is pleased to announce the full independent scoping study (the "Scoping Study") in respect of its wholly owned Toral Project, located in the Castilla y León region, Northwest Spain. Commenting today, Laurence Read, Executive Director of Europa Metals, said: "Toral is demonstrating itself to be a highly robust lead, zinc and silver project located in a first world jurisdiction. The initial economics from the independent scoping study are robust with an estimated US$110 million of Capex and US$25/tonne processing cost. By building a mining model around the zinc, lead and silver high-grade core of the Toral deposit, a US$110 million NPV has been estimated using conservative parameters with a project IRR of 24.4%, anticipating payback from first production within 4 years, operating within the first world mining jurisdiction of Spain. We look forward to providing further updates as the Company progresses its wholly owned Toral Project throughout the remainder of 2019."Commenting today, Myles Campion, Executive / Technical Director of Europa Metals, said:2018 was a busy year at Toral and the work completed by our technical team should not be underestimated. We successfully established a new team in Spain that has worked exceptionally well together and with our independent consultants. They have taken our understanding of Toral to a new level through the application of a fundamental geological approach of reviewing, assessing and re-logging over 30,000m of core and applying modern techniques. We also accomplished a highly detailed and robust Scoping Study and I am pleased that we can today publish the economics. I now look forward to progressing the project further with a clear focus on development at the earliest opportunity." | |
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