Business
Lagoa Salgada Update
Lagoa Salgada Update.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n \nRNS Number : 9456N Mineral & Financial Invest. Limited 15 August 2017 \n\n \nMinerals and Financial Investments Limited \n \nLagoa Salgada LS-1 Resource Expansion Program - Hole LS-MS-03 Strikes 13.0m Of 12.42%1 Zinc Equivalent; Discovery Of New Mineralized Zone grading 1.24% Copper\n \nHIGHLIGHTS:\n \n- LS-MS-03 drill hole strikes 131m of 0.49% copper, including 20m of 1.24% copper \n- Copper grades more than double to 1.24% at depth (231m)\n- Massive sulphide zone of 28.0m grading 8.85% zinc equiv1., including 13m of 12.42% zinc equiv.1\n- LS-MS-03's new stockwork zone is copper rich, could be economic without by-product credits\n- First three holes of resource expansion program strike larger zones, along with higher grades.\nGeorge Town, Cayman Island - August 15, 2017 - Mineral & Financial Investments is very pleased to announce its 49%-owned investment, TH Crestgate GmbH, a private Swiss-based investment company has released the third set of assay results from its new drilling campaign designed to try to expand the LS-1 resource at the 100%-owned Lagoa Salgada zinc-copper project in southern Portugal. \n \nThe holes were completed by wholly-owned local subsidiary, Redcorp Empreedimentos Lda. The current resource is 4.5Mt, with a zinc equivalent grade of 8.2% (see RNS of August 27, 2015). This drill program, announced and initiated in June 2017, is focussed on expanding the existing LS-1 Resource. The current resource is 4.5Mt, with a zinc equivalent grade of 8.2%. This drilling program is targeting expanding the resource by 75%-to-125% to between 8.0Mt and 10.0Mt, although at this stage there can be no guarantee that can be achieved. \n \nDrill Results Hole LS-MS-03\n \n\n\n\n\nHole \n\n\nDepth (m)\n\n\nThickness (m)\n\n\nCu (%)\n\n\nZn (%)\n\n\nPb (%)\n\n\nAu (g/t)\n\n\nAg (g/t)\n\n\nCu Equiv.\n(%)[1]\n\n\nZn Equiv.\n(%)1\n\n\n\n\nLS-MS-03 (New)\n\n\n147 to 278\n\n\n131.0\n\n\n0.49\n\n\n0.83\n\n\n1.18\n\n\n0.24\n\n\n41.4\n\n\n2.08 %\n\n\n4.36%\n\n\n\n\nIncluding (Gossan) \n\n\n147 to 160 \n\n\n13.0\n\n\n0.41\n\n\n0.75\n\n\n4.91\n\n\n0.61\n\n\n30.1\n\n\n3.37%\n\n\n7.07%\n\n\n\n\nIncluding (Massive-Sulphide)\n\n\n160 to 188\n\n\n28.0\n\n\n0.49\n\n\n1.51\n\n\n2.74\n\n\n0.61\n\n\n123.2\n\n\n...