Europa Metals has today announced results from an independent Preliminary Economic Study undertaken at its flagship wholly owned Toral lead, zinc and silver project in the region of Castilla y León, north-west Spain. The report has highighted the potential of the asset, showing an NPV of US$156 and an IRR of 31.3%. Other financial highlights included:

• US$963m Revenue over 12 year Life of Mine (“LOM”)
• US$477m Opex over LOM
• US$471m EBITDA over LOM
• 49% Operating Margin (US$63.56/t all-in cost)

The report also highlighted17Mt @ 6.7% ZnEq (including Pb credits) resource (JORC 2012) including indicated resource of 3.8Mt @ 8.1% ZnEq (including Pb and Ag credits) – 4% cut off grade.