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Europa Metals Extremely Pleased With New Toral Testwork In Spain
Fri, 28th Aug 2020 11:58
(Alliance News) - Europa Metals Ltd said Friday new findings from testwork at its Toral project in Spain are "significantly above average" versus concentrates available in the current market.
The European focused lead-zinc and silver developer's London shares were up 1.8% at 13.74 pence. They were up 26% in Johannesburg to ZAR3.54 each.
As a result, Europa said its project, located in northern Spain, can now be ranked "amongst the highest concentrate grades globally".
Chief Executive Laurence Read said: "Today's Phase III metallurgical results, conducted by Wardell Armstrong International, and ore sorting analysis from TOMRA/Bara demonstrate excellent lead, zinc and silver recovery and grades for the Toral project in addition to identifying certain economic benefits that could result from the implementation of ore sorting during potential future mining activities."
Europa said it is "extremely pleased" with the "high-grade" sample results from TOD-025, but noted the ore sorting could well bring new areas of the deposit's overall resource into the mineable area, having previously been discounted due to the low-grade nature of the ore.
The "excellent" grade recovery from TOD-025 included 83.9% lead recovery to a 79.2% lead concentrate; 87.7% silver recovery to 512 parts per million silver within lead concentrate; and 87.7% zinc recovery to a 60.0% zinc concentrate.
Read continued: "We are now progressing work with Bara to determine the impact of the recent metallurgical studies, ore sorting, updated resource estimate and other work conducted since the 2018 scoping study, on the prospective economics for the Toral project. Europa Metals looks forward to updating the market on revised economic parameters for Toral and on the pre-feasibility study workstreams underway in due course."
Executive Chair Myles Campion added that the latest set of metallurgical results "indicate the potential to exploit further" the resource at Toral.
He continued: "In addition, by investigating the use of XRT in our process route, we expect increased optionality in terms of mining rates and throughput flexibility. Combining the ore sorting results with the very impressive lead concentrate grades achieved from the TOD-025 sample, we firmly believe that Europa Metals is continuing to demonstrate that Toral can provide a high-grade concentrate, whilst allowing for a flexible mining approach."
By Paul McGowan; paulmcgowan@alliancenews.com
Great start to a Friday .. well done LR and MC
Thanks for sharing that rnorth, hopefully not too much longer to wait, I have everything crossed for a good outcome.
Outstanding.
Great post N62 ... I am hopeful of a positive outcome, hopefully while healthy enough to enjoy the money lol
Milnrowmug ... I haven't as I really want to keep my 65k shares for the end game, whatever that happens to be .. hoping to sell at £1 or more.
Should have - sold yesterday ... Could have - doubled my holding today lol
I could have sold my holding yesterday morning and walked away with a £10k profit but didn't as I am hoping for a far better return .. hoping it wasn't a mistake .. thoughts?
Agree Shed
Look what we are worth compared with you lot lol
The new, post share consolidation, pricing normalises Europa Metals next to the Company's peers and allows easier comparison of the equity valuation in the context of the Company's core asset, the Toral lead, zinc and silver project in Spain, which has been significantly advanced by the Company.
Like that a lot.
Hope that's the case Holly.
Now have 30 million at 0.0001973 average roughly ... hoping for a decent result.
Hopefully news soon and a decent result for all of us .. stay safe, there's a killer virus out there.
A bit of a dumd question actually as I guess a sale would .. oops my bad.
which is more likely to get the SP to 1p the soonest .. thoughts?
I regret not buying another 10 million when we were 0.014 recently .. never mind.
Totally agree Wideglide.
I like the update to be honest, lets hope it doesn't take too much longer.