Europa Metals Ltd Land Use Process Initiated - Toral Project, Spain (6152A)
September 13 2018 - 2:00AM
UK Regulatory
TIDMEUZ
RNS Number : 6152A
Europa Metals Ltd
13 September 2018
13 September 2018
Europa Metals Ltd
("Europa Metals", the "Company" or the "Group")(ASX, AIM, JSE:
EUZ)
Land Use Process Initiated for Potential Future Mine Development
- Toral Project, Spain
Europa Metals, the European lead-zinc explorer, is pleased to
announce that the Board has taken the decision to initiate the
Change of Land Use processes needed for the potential future full
mine development at its wholly owned Toral lead-zinc-silver project
located in the region of Castila y León, northern Spain (the "Toral
Project").
Currently, Europa Metals is operating within the first year of
its 3 year Investigation Permit and is in the process of concluding
an initial Scoping Study on the Toral Project. Additionally, the
Company is undertaking a series of exploration and data analysis
workstreams in order to further progress its understanding of the
asset. Whilst the Toral Project is currently at the exploration
stage, the Company believes that there is sufficient understanding
of the asset to justify initiating the requisite applications to
convert the existing land use designation to enable the potential
future development of a mine. The Company has consulted with the
Junta de Castilla y León who concurred that this course of action
is appropriate despite the Toral Project being at a pre-feasibility
stage.
Process Outline
Europa Metals has engaged a specialist consultancy, MAGMA
Soluciones Ambientales SL ("MAGMA") (the "Consultancy") to initiate
and progress the requisite land use applications across three
distinct municipalities overlapping the Toral Project's licence
area. This Consultancy has a 15 year track record of successfully
processing and modifying municipal planning instruments for natural
resources projects. MAGMA collaborates with regional government
administrations to enable the management of natural and cultural
resources.
Successful outcomes delivered by MAGMA have included land use
rights conversions undertaken with the Municipal Urban Regulations
of Valverde de la Casa, Villavieja de Yeltes, Garcibuey, Aldehuela
de la Bóveda, El Cerro, Fuentes de Oñoro, Villarino de los Aires
and Chagarcia-Medianero. To date, MAGMA has concluded environmental
impact studies for the change/review of land use with 12
municipalities within the province of Castilla y León. The Managing
Director of MAGMA and Toral Project lead, Juan Piñeiro, is also the
geological representative to the Chamber of Resources of Castillia
y León.
A detailed schematic of the application and reporting process to
be initiated across the three municipalities is available for
viewing at the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6152A_1-2018-9-12.pdf
In summary, the municipal process requires an initial review of
the current land use and then a submission to the Town Hall
(Ayunmiento) of each municipality concerned within the Toral
Project's licence area. Upon acceptance of such submissions, a
series of studies and proposals/reports will be presented at
municipal, provincial and federal level. The process is currently
estimated to take approximately 18 months.
Alternatively, the municipal process could be superseded by way
of a submission to the regional parliament, whereby the regional
government of Castila y León would vote on the change of land use,
but Europa Metals believes that progressing the transfer of land
use at a municipal level is the optimum way to progress the Toral
Project into potential future production.
Ponferrada has been a mining district since before the 19th
Century, when some of the first generation coal power stations and
coal powered railways in Spain were supplied from the area. Located
in an area with many operating quarries and an historic Roman mine
attraction, the Company will seek to work closely with local
stakeholders to deliver a new, environmentally and socially
sustainable lead, zinc and silver mine into future development.
Laurence Read, Executive Director, commented:
"Whilst the Toral lead-zinc-silver project is only within the
first year of its renewed investigation licence, we believe that
there is sufficient confidence in the asset to begin the change of
land use process in order to facilitate potential future full mine
development at the appropriate time. Adhering to all the relevant
permissions and safeguards is an important and essential part of
delivering new mining operations within Europe and now is the right
time to begin this process. Working with MAGMA, an independent
consultancy with a track record of ensuring resource companies are
compliant with the municipal and regional land use processes, we
shall work closely with all key stakeholders to determine Toral's
ability to ultimately become a safe and beneficial mining operation
for the local area."
For further information on the Company, please visit
www.europametals.com or contact:
Europa Metals Ltd
Dan Smith, Non-Executive Director and Company Secretary
(Australia)
T: +61 417 978 955
Laurence Read, Executive Director (UK)
T: +44 (0)20 3289 9923
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler
T: +44 (0)20 7409 3494
Turner Pope Investments (TPI) Limited (Joint Broker)
Andy Thacker
T: +44 (0)20 3621 4120
Sasfin Capital Proprietary Limited (a member of the Sasfin
group)(JSE Sponsor)
Sharon Owens
T (direct): +27118097762
Peterhouse Corporate Finance Limited (Joint Broker)
Lucy Williams/Duncan Vasey/Heena Karani
T: +44 (0)20 7469 0930
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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