(Alliance News) - Europa Metals Ltd on Friday said a geotechnical study at its Toral lead, zinc and silver project in Spain has continued "to demonstrate the potential for a new mine" in the region.
The geotechnical study, Europa said, is a key step towards developing a cost estimation for work at Toral.
The study found that a cut and fill method would be the most successful mining method.
Executive Director Laurence Read said: "The completion of the geotechnical study for Toral continues to demonstrate the potential for a new mine located in an established mining region within Europe. Work progresses well across all of our other workstreams and we look forward to announcing a further operational update in due course."
Shares in the company were 2.6% higher at 1.66 pence each in London on Friday morning. In Johannesburg, they were untraded, last quoted at ZAR0.01.
By Eric Cunha; ericcunha@alliancenews.com
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Europa Metals (EUZ)