1st Oct 2021 09:08
(Alliance News) - Europa Metals Ltd on Friday upped its indicated resource estimate for its Toral project in northern Spain by 55%.
Following an updated independent mineral resource estimate, the Europe-focused metals explorer saw a 39% increase in indicated contained tonnes of zinc to around 251,000 tonnes; a 30% increase of lead to about 196,000 tonnes; and a 40% increase of silver to approximately 5.2 million ounces.
"We are now progressing to a new phase of metallurgical testing in order to determine the most efficient production routes for the upper zone including examination of ore sorting. The overall focus continues to be on proving up our well established lead, zinc and silver resource area and continuing to de-risk the development profile," Chief Executive Laurence Read said.
Europa shares were 12% higher at ZAR1.90 each in Johannesburg on Friday morning and were up 16% in London to 8.88 pence each.
By Greg Roxburgh; [email protected]
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