Europa Metals reports on its Pb-Zn-Ag project

Europa Metals, the European focused lead, zinc, and silver developer, has recently concluded a series of cost-cutting measures combined with the approval of an incentive plan. As a lead, zinc, and silver project with high grades, current and anticipated commodity pricing is favourable to the Toral project in Spain. Further work on recoveries and grade is in progress, the results of which will be announced in a timely manner.

The Toral Project is a traditional polymetallic (lead-zinc-silver) deposit, which is hosted over 6km of strike length of the prospective Lower Cambrian Vegadeo Limestone formation that is regionally mineralised along more than 40km of its extent.

The deposit represents a carbonate hosted, structurally controlled deposit type, demonstrating fault-controlled contact, vein, carbonate replacement and breccia styles of mineralisation situated close to and along the boundary between footwall slates and hanging wall limestones and dolomites.

Sub-ordinate lead-zinc-silver mineralisation also occurs wholly within the hanging wall limestones and dolomites, approaching the contact with the slates.

The latest mineral resource estimate (as of 25 October 2019) for the Toral deposit comprised,

  • An indicated resource of approximately 2.7Mt @ 8.9% Zn Equivalent (including Pb credits), 5% Zn, 4.2% Pb and 32g/t Ag
  • Including 130,000 tonnes of zinc, 110,000 tonnes of lead and 2.8 million ounces of silver
  • An Inferred resource of approximately 16Mt @ 7.2% Zn Equivalent (including Pb credits), 4.5% Zn, 2.9% Pb and 22g/t Ag
  • Including 690,000 tonnes of zinc, 450,000 tonnes of lead and 11 million ounces of silver
  • Total Resources of approximately 18Mt @ 7.4% Zn Equivalent (including Pb credits), 4.5% Zn, 3.1% Pb and 24g/t Ag
  • Including 830,000 tonnes of zinc, 570,000 tonnes of lead and 14 million ounces of silver

The metallurgical results contained arise from a testing programme that culminated in a second locked cycle test. Such testwork achieved the following recoveries:

  • 83.7% Pb recovery to a 60.0% Pb concentrate;
  • 87.1% Ag recovery to 1,350ppm Ag within Pb concentrate; and
  • 77.0% Zn recovery to a 59.1% Zn concentrate.

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