Wrap Text
Investor presentation on 14 July 2021
Europa Metals Ltd
(Incorporated and registered in Australia
and registered as an external company in
the Republic of South Africa)
(Registration number 4459850)
(External company registration number 2011/116305/10)
Share code on the ASX: EUZ
Share code on AIM: EUZ
Share code on the JSE: EUZ
ISIN: AU0000014342
("the Company")
Investor Webinar - Toral Pb, Zn & Ag Project
Europa Metals, the European focused lead-zinc and silver developer, is pleased to announce that it
will be making an investor presentation at the Turner Pope-Vox Markets webinar on Wednesday,
14 July 2021 at 3.30 p.m. (GMT) which investors may attend via the following link:
https://voxmarkets.brand.live/c/vox-markets-and-turner-pope-webinar-wednesday-july-14th
Developing Potential Future Lead, Zinc & Silver Production within the EU
The Company is currently conducting a Pre-Feasibility Study (“PFS”) on its wholly owned Toral Lead,
Zinc and Silver project, Spain, with Wardell Armstrong International Ltd as PFS manager, further to,
inter alia, the preliminary economic study successfully completed by Bara Consulting and Addison
Mining Services Limited in November 2020 which determined the following key parameters:
Resource Indicated Tonnes 3.8m
Inferred Tonnes 13m
Total Tonnes 17m
Av. ZnEq.% 7.3
Mining Rate tpa 700,000
Grade ZnEq% 7.6%
Cost US$36/t
LOM 12 years
Metallurgy Process Sorting+Flotation
Recovery (Average) 85% Zn, 87% Pb, 86% Ag
Capex Mine US$86m
Upfront (to production) US$79m
Financials NPV US$156m
IRR 31.3%
Payback Year 4
Located within the province of Castilla y León, north-west Spain, the Toral project is well positioned
to become a potential high grade production source of lead, zinc and silver within the EU trading
block.
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, CEO (UK)
T: +44 (0)20 3289 9923
Linkedin: Europa Metals ltd
Twitter: @ltdeuropa
Vox: Europametals
United Kingdom
12 July 2021
Sponsor: Sasfin Capital (a member of the Sasfin Group)
Notes
Appendix: Further information on the Toral Project
Mineral Resource Estimate
• An Indicated resource of approximately 3.8Mt @ 8.3% Zn Equivalent (including Pb credits), 4.7% Zn,
3.9% Pb and 30g/t Ag, including:
- 180,000 tonnes of zinc, 150,000 tonnes of lead and 3.7 million ounces of silver.
• An Inferred resource of approximately 14Mt @ 6.5% Zn Equivalent (including Pb credits), 4% Zn, 2.7%
Pb and 23 g/t Ag, including:
- 540,000 tonnes of zinc, 360,000 tonnes of lead and 10 million ounces of silver.
• A total resource of approximately 17Mt @ 6.9% Zn Equivalent (including Pb credits), 4.1% Zn, 2.9%
Pb and 24 g/t Ag, including:
- 720,000 tonnes of zinc, 510,000 tonnes of lead and 14 million ounces of silver.
Table 1: Summary of Indicated and Inferred mineral resources for the Toral property reported at a 4.0% Zn
equivalent cut-off grade (including Pb and Ag credits) and estimated grade and tonnages at the various cut-
off grades. Figures are rounded to reflect the accuracy of the estimate and, as such, totals may not cast.
Cut-Off Contained Contained Ag Troy
Tonnes Zn_Eq Zn Eq Zn Pb Ag
Zn Eq Density Zn Tonnes Pb Tonnes Oz
(Millions) (Pb)% (PbAg)% % % g/t
(PbAg)% (000s) (000s) (Millions)
Indicated
6 2.8 2.9 9.5 10.0 5.3 4.5 34 150 130 3.1
5 3.3 2.9 8.9 9.5 5.0 4.2 32 170 140 3.4
4 3.8 2.9 8.3 8.9 4.7 3.9 30 180 150 3.7
3 4.1 2.9 7.9 8.5 4.4 3.7 29 180 150 3.8
Inferred
6 8 2.9 7.8 8.3 4.7 3.4 28 370 270 7.2
5 10 2.9 7.2 7.7 4.4 3.0 26 450 310 8.6
4 14 2.9 6.5 6.9 4.0 2.7 23 540 360 10
3 17 2.9 5.9 6.3 3.7 2.4 20 610 400 11
Total
6 11 2.9 8.2 8.8 4.8 3.7 30 520 390 10
5 14 2.9 7.6 8.1 4.5 3.3 27 620 450 12
4 17 2.9 6.9 7.3 4.1 2.9 24 720 510 14
3 21 2.9 6.3 6.7 3.8 2.7 22 790 560 15
Transitional Oxide Material
4 3 2.9 5.2 5.7 2.6 2.9 27 75 83 2.5
Unweathered Fresh Rock
4 14 2.9 7.2 7.7 4.5 3.0 24 650 430 11
* - Zn Eq (Pb)% is the calculated Zn equivalent incorporating lead credits; (Zn Eq (Pb)% = Zn + Pb*0.926). Zn
Eq (PbAg)% is the calculated Zn equivalent incorporating silver credits as well as lead; (Zn Eq (PbAg)% = Zn
+ Pb*0.926 + Ag*0.019). Zn equivalent calculations were based on 3-year trailing average price statistics
obtained from the London Metal Exchange and London Bullion Market Association giving an average Zn price
of US$2,680/t, Pb price of US$2,100/t and Ag price of US$16.2/oz.
Notes:
1. No mineral reserve calculations have been undertaken. Mineral resources that are not mineral reserves
do not have demonstrated economic viability.
2. Numbers are rounded to reflect the fact that an Estimate of Resources is being reported as stipulated by
JORC 2012. Rounding of numbers may result in differences in calculated totals and averages. All tonnes
are metric tonnes.
3. Zn equivalent calculations were based on 3 year trailing average price statistics obtained from the London
Metal Exchange and London Bullion Market Association giving an average Zn price of US$2,680/t, Pb
price of US$2,100/t and Ag price of US$16.2/Oz. Recovery and selling factors were incorporated into the
calculation of Zn Eq values. It is the Company’s opinion that all the elements included in the metal
equivalents calculation (zinc, lead and silver) have a reasonable potential to be recovered and sold.
4. Zn Eq (PbAg)% is the calculated Zn equivalent incorporating silver credits as well as lead and is the
parameter used to define the cut-off grade used for reporting resources (Zn Eq (PbAg)% = Zn + Pb*0.926
+ Ag*0.019).
5. Zn Eq is the calculated Zn equivalent using lead credits and does not include silver credits (Zn Eq = Zn
+ Pb*0.926).
6. The Mineral Resource Estimate set out above for the zinc, lead and silver mineralisation in the Toral
Project area is based on a 3D geologic model and wireframe restricted block model that integrated the
exploration work on the Toral project up to 21 January 2020. The block model used uniform cell size of
25x10x25m to best suit the orientation of the mineralisation and sample spacing. The block model was
rotated by 20 degrees in plan view to best match the trend of mineralisation. Sub cells were applied to
better fit the wireframe solid models and preserve accurate volume as much as possible. Cells were
interpolated at the parent block scale using an Ordinary Kriging.
7. Following statistical analysis and assessment of the updated assay composite database top cuts of 125g/t
Ag were applied to the data. No top cuts were applied for Zn or Pb.
8. The Indicated and Inferred mineral resource category for the Toral lead-zinc-silver project set out in Table
1 (at cut-off grades greater than 4% Zn Equivalent) comply with the resource definitions as described in
the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The
JORC Code, 2012 Edition. Prepared by: The Joint Ore Reserves Committee of The Australasian Institute
of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC).
9. The tonnes and grades reported at a cut-off grade of 3% Zn equivalent are below the economic cut-off
grade of 4% and as such should not be considered mineral resources, they are shown here for
comparison purposes only.
Date: 12-07-2021 05:00:00
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