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Land Use Process Initiated for Potential Future Mine Development - Toral Project, Spain
Europa Metals Ltd
(Formerly Ferrum Crescent Limited)
(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")
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.europametals.com/site/operations/lead-zinc
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
Perth
13 September 2018
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.
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