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Mineral & Financial Investments Ltd.
Summary
| Project: | Lagoa Salgada | |
|---|---|---|
| Deposit: | Lagoa Salgada | |
| Location: | Portugal | |
| Commodities: | Copper-Zinc-Lead-Gold-Silver | |
| Date: | 4/24/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 24-4-2017: Mineral & Financial Investments Ltd. announces an Exploration/Drilling Update report for its Lagoa Salgada deposit at the Lagoa Salgada project. JV - Drilling results incl. 231.0m @ 0.17% Cu, 1.2% Zn, 0.63% Pb, 0.04g/t Au, 7.79g/t Ag from 177m. | |
| Resources: | (historic estimate only) | |
| CP/QP: | [Overall Report]: Joao Barros (Internal) | |
| ABSTRACT: | George Town, Cayman Island - April 24, 2017 - Mineral & Financial Investments is pleased to announce that it has received an update on the drill results from its 49%-owned investment, TH Crestgate GmbH, a private Swiss based investment company. TH Crestgate has released the assay results from the second hole of its 4 hole drilling campaign, completed by it's wholly owned local subsidiary Redcorp Empreedimentos Lda on its 85%-owned 134 km2 Lagoa Salgada zinc-copper project in southern Portugal, 100km SE of Lisbon. This 4-hole drill program is focussing on the "Central Sector" and was announced and initiated in December 2016. The four holes have been completed. The assay results from the second hole have just been received from ALS in Seville, Spain. The core from the 3rd hole (LS ST-03) is currently with ALS. Core from the 4thhole (LS ST-04) has been sent this week to the to the ALS facilities.Jacques Vaillancourt, Chairman of Mineral and Financial, commented: "Although still early days, the size and continuity of the mineralized intercept of LS ST-02 exceeded expectations. Finding a zone of continuous mineralization near the historical LS-20 hole which has intercepts of >10% Zinc and >15% Copper and is so near the current LS-1 preliminary resource is a very positive development. This second hole's mineral characteristics are consistent with TH Crestgate's first hole, LS ST-01, and confirms that this zone is distinct, but geologically related to the nearby LS-1 Resource. Moreover, TH Crestgate's recent geological work points towards our being able to increase the LS-1 resource from the current 4.5 million tonnes with additional drilling. The next 2 holes in the Central Sector will help gauge the scale of the Sector's mineral potential. This hole also confirms our belief that Lagoa Salgada hosts numerous ore bodies." | |
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