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Investment Update: Lagoa Salgada
Investment Update: Lagoa Salgada.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n \n \n \n MINERAL AND FINANCIAL INVESTMENTS LIMITED\n \n \n \n \n Investment Update: Redcorp Reports High-Grade Copper Intercept Extending \n \n \n 550-Metre by 200 Metre Step-Out Hole At Lagoa Salgada\n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n ·\n \n Hole LS ST_42 returned 6.9 m @ 1.59 % Cu (1.99 % CuEq1)\n \n \n \n ·\n \n Located ~ 300m from previously reported high grade copper intercept in hole LS ST_31 (16m @ 2.6% Cu (4.33% CuEq)\n \n \n \n ·\n \n Extends the previously defined copper rich footwall lens by an additional 200m to ~ 550 m strike length\n \n \n \n ·\n \n Results support definition of stacked high-grade copper lens for future resource potential\n \n \n \n ·\n \n Hole ST-42 extends mineralization beyond the current resource and should upgrade the metal endowment of neighbouring blocks, once integrated into future resource updates.\n \n \n \n \n \n \n \n \n \n \n 1\n \n \n \n Equivalency calculations are based on in-situ values only. Commodity prices used are as follows: Zn: US$1.20/lb, Pb: US$1.00/lb, Cu: US$3.50/lb, Ag: US$20/Oz, and Au: US$1,650/Oz\n \n \n \n \n \n \n \n \n \n George Town, Cayman Islands - 9 November 2022 -\n \n Mineral and Financial Investments Limited (LSE-AIM: MAFL)\n (\"M&FI\" \"MAFL\" or the \"Company\")\n is pleased to\n announce full assay results of a 200-meter step-out drill hole at Venda Nova South at the Lagoa Salgada Project, Portugal. This asset is held by MAFL's investment entity, Redcorp Empreedimentos Mineiros Lda (\"Redcorp\") and Ascendant Resources Inc, who are operating the site. The Company understands that the scope of this drill hole was to test the down plunge extension of the recently identified high-grade footwall Copper lens (please refer to M&FI Press Release from July 28th).\n \n \n Jacques Vaillancourt, President & CEO of M&FI stated, \"\n \n We are very pleased to share these latest drill results from Redcorp, as the current drill program is not only upgrading current known resources but also continues to add new exploration potential to define new high-grade copper mineralisation at Venda Nova South which could substantially enhance the resource potential at Venda Nova. We believe the intersections within LS_St_42 displays outstanding thicknesses and grade which continue to highlight the significant scale an...