Europa Metals (EUZ) today announced that the company has started the change of land use process for a potential full mine development in Spain.
The potential mine development is at its wholly-owned Toral lead-zinc-silver project located in the Castila y León region in northern Spain.
The company has now engaged consultancy MAGMA Soluciones Ambientales SL to initiate and progress the land use applications across three distinct municipalities overlapping the Toral Project's licence area.
Although the Toral Project is currently at exploration stage, the company believes there “sufficient understanding of the asset” to justify initiating the applications for the development of a future mine.
Europa is also in the process of concluding an initial Scoping Study on the project, and is undertaking a series of exploration and data analysis work streams to further its understanding of the site.
In a post on Vox Markets, Europa Metals Executive Director Laurence Read said: “While some might argue it is early, as in Year 1 of exploration, we have got to the stage with Toral that given our understanding / confidence in the project this is the right decision.
“Support and input from Castilla y Leon continues to be key to our ongoing work at Toral.”
The process for the development requires an initial review of the current land use, then a submission to the local Town Hall of each municipality concerned with the Toral Project's licence area.
After these submissions are accepted, a series of studies and proposals will be presented at municipal, provincial and federal level.
In total, the process is estimated to take 18 months.
Laurence Read, Executive Director, commented: “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."
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