Europa Metals Ltd Scoping Study Commencement - Toral Project, Spain (7778R)
June 19 2018 - 2:00AM
UK Regulatory
TIDMEUZ
RNS Number : 7778R
Europa Metals Ltd
19 June 2018
19 June 2018
Europa Metals Limited
("Europa", "EUZ", the "Company" or the "Group")(ASX, AIM, JSE:
EUZ)
Scoping Study Commencement - Toral Project, Spain
Europa Metals, the European lead-zinc explorer, today announces
that it has engaged the services of UK based Addison Mining
Services Limited (www.addisonminingservices.com) ("AMS", "Addison")
with immediate effect, to commence an initial Scoping Study (the
"Study") on the Company's 100% owned Toral lead, zinc and silver
project located in the Province of Leon, Spain (the "Toral
Project"). Addison previously compiled the Toral Project's maiden
independent JORC (2012) mineral resource estimate, announced in
January 2018.
The principal objective of the Study will be to determine first
economics on the Toral Project, reported on by a fully accredited
and independent mining consultancy group. The findings of the Study
will be disclosed to the market following completion, which is
currently anticipated during Q4 2018.
Addison's Principal Geologist, James Hogg, and Associate
Principal Mining Engineer, Julian Bennett, will lead the Study
project team dedicated to the Toral Project. The dedicated Study
team will work alongside the Company's existing in-country
management, under the direction of Myles Campion, Technical
Director, and Jesus Montero, principal Mining Engineer from Mining
Sense. The specific workstream headings for the work to be
undertaken for the Study are as follows:
-- Resource optimisation of recently completed JORC 2012 Inferred resource;
-- Preliminary mine layout;
-- Mineral inventory estimation;
-- Preliminary Economic Assessment, DCF and sensitivity analysis;
-- CAPEX and OPEX parameters; and
-- Review of environmental, hydrogeological and geotechnical parameters.
Myles Campion, Executive / Technical Director, commenting today,
said:
"We are delighted to appoint Addison Mining Services to conduct
the initial Scoping Study over the Toral deposit and look forward
to working closely with them to combine their experience with our
on-ground knowledge to move Toral forward as quickly as
possible.
On completion of the Study, we will hope to have the first real
look at the prospectivity we think Toral has to offer, providing
greater insight into the economics and the potential of the
deposit."
Laurence Read, Executive Director, added:
"Our maiden JORC 2012 resource, announced in January 2018,
estimated that Toral has a metal content of 670,000 tonnes of zinc,
540,000 tonnes of lead and 13 million troy ounces of silver. While
Europa will be pursuing drilling along strike during 2018 (at
present we are completing the tendering process for drilling), our
core focus will be confirming the economic viability of developing
this significant metals resource. The initial Scoping Study, to be
undertaken by an independent consultant, will examine a wide range
of sensitivities and report on the viability of a future mining
operations. With an already defined high-grade centre within the
block model, I look forward to the scenarios that might be
uncovered by Addison in developing a robust production model."
For further information on the Company, please visit
www.europametals.com or contact:
Europa Metals Limited
Dan Smith, Non-Executive Director and Company Secretary
(Australia)
T: +61 417 978 955
Laurence Read, Executive Director (UK)
T: + 44 (0)20 3289 9923
Strand Hanson Limited (Nominated Adviser)
Rory Murphy / Matthew Chandler / James Dance
T: +44 (0)20 7409 3494
Turner Pope Investments Limited (Joint Broker)
Andy Thacker
T: +44(0)0203 621 4120
Peterhouse Corporate Finance Limited (Joint Broker)
Lucy Williams / Duncan Vasey / Heena Karani
T: +44 (0)20 7469 0930
Sasfin Capital Proprietary Limited (a member of the Sasfin
group) (JSE Sponsor)
Sharon Owens
T (direct): +27 11 809 7762
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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