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Assessing low-cost development routes–Toral/Lago (100%), Spain

Toral: NI 43-101 report open for significant re-interpretation

  • Large historic database and land package
  • High grade drilling & exploration results logged
  • Shallow, multiple zone priority drill targets identified
  • Prospects open at depth and along strike

Spain – stable political risk region

  • Established mining region
  • Excellent road, rail, port & power infrastructure

Mining companies in Spain

Spanish assets - Major data package, first world infrastructure

Toral Geological Situation

Toral in proven mining province

Rubiales Mine
From 1976-92, the mine milled more than 12 million tonnes of ore and produced around 1.4 million tonnes of high grade (61%) zinc concentrate and over 213,000 tonnes of high grade (70%Pb and 500g/t Ag) lead concentrate.

Antonina Mine
Mined between 1935-83, still with ore in situ

Las Medulas Mine
Mined by the Romans for nearly 200 years producing over 200 tonnes of alluvial gold.

Toral Geology

  • The Toral permit is located in the West  Asturian Leonese Zone (WALZ).\
  • Multiple historic studies suggest the mineralisation comprises sulphides interbedded with limestones and dolomites.
  • The sulphide mineral assemblage comprises sphalerite, galena, pyrite and chalcopyrite.
  • Zinc occurs in coarse-grained sulphide minerals which should assist in metallurgical recovery.

Near term objectives in Spain:

  • Reinterpretation of significant data package on Toral
  • Establish new target areas for early resource definition
  • Examine areas that may host high grade shoots to depth
  • New geological model following assessment of mineralisation
  • Run parallel petrographic studies for separation studies
  • Start environmental and social permitting process

Create a credible, high value project capable of supporting near-term production