Europa Metals Ltd (LON:EUZ) said the independent geotechnical study of its Toral project in Spain has been completed.

The study confirmed the cut and fill method, rather than sub-level stoping, as the best method for the mining model.

Using a cut and fill method, artificial support would be less systematic and less expensive, mining blocks would be higher and therefore a better recovery ratio would be obtainable. The size of the mining block would be around 40 metres (m), although it is possible to achieve 50m, Europa said.

“The completion of the geotechnical study for Toral continues to demonstrate the potential for a new mine located in an established mining region within Europe. Work progresses well across all of our other workstreams and we look forward to announcing a further operational update in due course,” said Laurence Read, the executive director of Europa Metals.

Europa’s technical director, Myles Campion, said the new information from the geotechnical support would be incorporated into the company’s studies of the Toral project.

“The study has been completed to a PFS [pre-feasibility study] standard so we can now start to refine our cost parameters further,” Campion said.

The Toral Project situated in the region of Castilla y León, north-west Spain, is a traditional polymetallic (lead-zinc-silver) deposit.

It is hosted over six kilometres (km) of strike length of the prospective Lower Cambrian Vegadeo Limestone formation, which is regionally mineralised along more than 40km of its extent.