European-focused lead-zinc and silver developer, Europa Metals (AIM:EUZ) has completed an initial hydrogeological study of its wholly owned Toal project in Spain indicating “positive” results.
The study was completed by independent consultants, Ingeniería y Consultoría en Recursos del Subsuelo, S.L to assess the project’s impact as a potential future mining area.
The initial study will lay groundwork for the group’s planned piezometer programme this year which was commissioned by Europa as part of an ongoing hydrogeological programme.
The study concluded that the project is likely in a seal against the surrounding water table as the site hosts limestones but does not indicate developed levels of drainage created from the dissolution of sedimentary material.
Laurence Read, Executive Director of Europa said the results were indicative of “a water management scenario that falls well within acceptable boundaries for mine development in terms of economic viability and environmental management.”
Shares in Europa Metals were trading flat at 0.019p during Friday trading.
The company said that eight piezometers for monitoring water conditions in and around the project area have now been installed as part of a planned quarterly monitoring programme and that first baseline data had been received.
Europa said that further work, including a borehole test, will need to be undertaken to enable a pre-feasibility study.
In addition, future project operations are deemed unlikely by the group to have any detectable influence on the Sil River located in the immediate vicinity.
“The initial results indicate that Toral should have limited impact on the local water conditions and that it does not suffer from any significant water issues that could impact on the future economic development of the project,” said Read.
Europa completed drilling at its Toral lead, zinc and silver project in north-west Spain at the end of January which targeted the highest grade areas of the project.
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