Denarius Metals Corp. announced that the formal application for a mining license for the Toral Zn-Pb-Ag Project in Northern Spain has been completed and submitted by Europa Metals Iberia S.L., a wholly owned Spanish subsidiary of Europa Metals Ltd., to the Junta of Castille and Leon, the local mining authority. This application forms part of the 2023 exploration campaign agreed to between the Company and Europa in conjunction with the Toral Definitive Option Agreement dated November 22, 2022 pursuant to which the Company can acquire up to an 80% interest in the Toral Project in two phases.
Serafino Iacono, Executive Chairman and CEO of Denarius, commented, “Working closely with the team at Europa, we have met our goals for this first year of the Toral Definitive Option Agreement. Completing this application to request an upgrade in the permit at the Toral Project from the exploration phase to a mining license is in keeping with our plans to advance this potential long-life asset toward production in an underground mining operation. Next steps include the preparation of an updated Mineral Resource estimate incorporating the results of the 2023 drilling campaign and then, after some additional infill drilling in the first half of 2024, we will commence work on the preliminary economic assessment for the Toral Project.”
Source: yahoo finance