8th Jun 2020 11:52
(Alliance News) - Europa Metals Ltd said Monday it has submitted an application to Junta of Castilla and Leon for a new three year investigation permit for its wholly owned Toral lead, zinc and silver project located in north west Spain.
Junta of Castile and Leon is the governing and administrative body of the Spanish autonomous community of Castile and Leon.
The company was granted an initial Investigation permit for Toral in 2017, Europa said, which is due to expire in November.
"An investigation permit provides a company with the right to pursue exploration activities at a project. As such, since 2017, under the existing investigation permit, the company has commissioned and conducted a significant amount of work on the Toral project, including, inter alia, a maiden JORC inferred resource and first indicated resource estimate, a detailed scoping study, hydrogeological analysis, geotechnical studies, environmental monitoring, social engagement and initial metallurgical test work," the miner added.
Europa said it "continues to be engaged" on a number of work streams at Toral.
The company has identified a series of further tasks that it intends to undertake before refining and submitting a final development application," Europa added.
Executive Director Laurence Read said: "The last three years, since receiving our first investigation permit, has seen a significant progression in our understanding of Toral and its potential value. Working closely with key regional stakeholders, Europa Metals has taken the decision to submit an application for a new, three year, investigation permit in order to further progress our assessment of the technical and economic potential of this high grade lead, zinc and silver project".
Europa said it expects to hear a decision on the extension before the current permit expires.
Shares in Europa Metals were 7.7% lower in London on Monday at 0.02 pence each. In Johannesburg, the shares were untraded at ZAR0.01 each.
By Paul McGowan; [email protected]
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