Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
#SILVER DENARIUS FOR SALE CODE#
The JORC code is an acceptable foreign code as defined by NI 43-101.
The “Competent Person” pursuant to the 2012 JORC code is James Hogg. The Toral Technical Report was prepared to the standards of the 2012 JORC code by James Hogg MSc MAIG, Richard Siddle MSc MAIG, and Lewis Harvey MSc MAIG. Scientific and technical information about the Toral Project is summarized, derived or extracted from the Toral Technical Report titled “ Updated JORC 2012 Technical Report and Resource Estimate for the Europa Metals Toral Pb-Zn Project, Leon, Spain” prepared by Addison for Europa dated Octoand with an effective date of September 14, 2021. Mineral Resource Estimate for the Toral ProjectĮuropa published an updated JORC 2012 compliant Mineral Resource Estimate for the Toral Project in 2021, prepared by Addison Mining Services Ltd (“Addison”), with an effective date of September 14, 2021, comprising:Īn Indicated resource of approximately 5.9 million metric tons (Mt) at 7.1% Zn Equivalent (including Pb credits) (“Zn Eq”) or 7.8% Zn Equivalent (including Pb and Ag credits (“Zn Eq(PbAg)”), grading 4.2% Zn, 3.3% Pb and 27 g/t Ag, containing:Ģ51,000 tonnes of Zn, 196,000 tonnes of Pb and 5.2 million ounces of Ag.Īn Inferred resource of approximately 14 Mt at 6.0% Zn Eq or 6.5% Zn Eq(PbAg), grading 3.8% Zn, 2.5% Pb and 20 g/t Ag, containing:ĥ40,000 tonnes of Zn, 350,000 tonnes of Pb and 9 million ounces of Ag.
It remains open along strike and down dip. The mineralization is continuous along the contact and has been tested by drilling over at least 1.7 km strike length. The Toral Project is a carbonate hosted, Mississippi Valley Type (“MVT”) Zn-Pb-Ag deposit situated along the contact between middle Cambrian aged slates in the footwall and upper Cambrian aged limestone and dolomite host rocks in the hanging wall. The Toral Project is located next to a main highway and is very well connected to several industrial ports in northern Spain as well as a major zinc smelter in the Asturias region.
#SILVER DENARIUS FOR SALE LICENSE#
The Toral exploration license 15.199, referred to as a Permiso de Investigacion (the “Permit”), covers an area of 20.29 km². The Project area is situated within the administrative subdivision of El Bierzo, the capital of which is the city of Ponferrada, approximately 30 km east of the project area by road. The Toral Project is located approximately 400 km or 4 hours’ drive northwest of Madrid in the province of León, within the autonomous region of Castilla-Leon. The Proposed Transaction could also provide future strategic synergy with our wholly owned Lomero-Poyatos polymetallic project in respect of the commercialization of concentrates from both potential future operations”. The production capacity to service the European automotive and lead-acid battery industry is declining and there is an urgent need to develop safer and more sustainable alternative raw material supply systems in the region. “Surging demand from industry, combined with increasing geopolitical risks, have served to increase raw metals prices over the last year. The high-grade concentrates that could be produced at Toral in the future make this a unique opportunity for Denarius to seek to develop a high-quality base metal project in the heart of western Europe.” Serafino Iacono, Executive Chairman and CEO of Denarius, commented, “ We are extremely pleased to have agreed the commercial parameters for this proposed farm-in transaction subject, inter alia, to definitive documentation which will enable Denarius to lead the development of this high-grade polymetallic project located in a well-mineralized historic mining area and proactive jurisdiction that also offers potential further exploration opportunities. (“Europa”) (AIM: EUZ), pursuant to which Europa granted Denarius the right to acquire up to an 80% ownership interest in the Toral Zn-Pb-Ag Project (the “Toral Project”), Leon Province, Northern Spain in two stages (the “Proposed Transaction”). (“Denarius” or “the Company”) (TSXV: DSLV OTCQB: DNRSF) is pleased to announce that it has signed a letter of intent for an option and joint-venture arrangement (the “Letter of Intent”) with Europa Metals Ltd. 05, 2022 (GLOBE NEWSWIRE) - Denarius Metals Corp.
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