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Hispania Resources Acquires Lumbrales Deposit Permit, Aims for Continued Growth in Spain's Mining Sector
Toronto, Ontario--(Newsfile Corp. - June 7, 2023) - Hispania Resources Inc. (TSXV: ESPN) ("H...
About this update from Hispania Resources Inc
[{"type":"text","content":"Hispania Resources Acquires Lumbrales Deposit Permit, Aims for Continued Growth in Spain's Mining SectorToronto, Ontario--(Newsfile Corp. - June 7, 2023) - Hispania Resources Inc. (TSXV: ESPN) (\"Hispania\" or the \"Company\") is pleased to provide an update on its 100% owned Lumbrales Deposit (\"Lumbrales\"), in the Stanniferous Iberian Belt of Spain. A region known for its more than 100 Tin and Tungsten deposits across Spain and Portugal, the prolific belt is set to be further enriched by Hispania's ambitious expansion plans. The Company has now acquired the Lumbrales Permit from Siemcalsa, a company controlled by the administration of Castile y Leon in Spain.The Lumbrales Permit covers 2,900 hectares and contains the formerly producing Mari Tere mine and two other artisanal tin prospects. These sites are situated approximately 115 kilometers west of the city of Salamanca, Spain. Prior to its closure in 1986, the Mari Tere mine contained a confirmed resource of 2.5 million tons at a grade of 0.25% Tin and 100 ppm Molybdenum. Based on Siemcalsa's historical records, an additional 3 million tons of potential resources might be present, although these figures are historical and hence, are not reliable for current evaluation. These resources are located within two parallel Quartz vein systems, which are exposed to a depth of 200 meters and stretch along a strike length of 750-meter section. This exposure was made possible by extensive surface drilling and underground development. Each vein measures between 3 to 6 meters each in width, averaging at 4 meters, and are spaced 45 meters apart. An intermittent third system exists between these two. Image 1: Detailed view of a Quartz vein demonstrating Cassiterite and Molybdenite mineralizationTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8711/169086_bbda132f747208b1_001full.jpgThe Mari Tere mine was initially developed with a surface shaft and four underground levels. These were operated by England's Lumbrales Mining and Power Company Ltd. from 1935 to 1941, followed by Montes de Galicia from Germany during 1941-45. More recently, Mina Duro SA, another significant player in this timeline, undertook a substantial development project. The company constructed an underground infrastructure consisting of a 658 meter long, 4.5 by 4.5 mete...