Ferrum Crescent Ltd (LON:FCR) has reported more good zinc grades from early stage development at work at its Toral project in Spain.
It will now move on to a small shallow drilling programme to target mineralised zones within 200 metres of the surface to further prove up the potential.
Trenching returned 10.5% and 6.5% zinc in places along with good lead grades while soil sampling identified a distinct, continuous zinc‐in‐soil two kilometre anomaly, approximately 150 metres wide with a best grade of 1.4%.
Merlin Marr-Johnson, Ferrum Crescent's senior project manager, said: "These exploration results prompt a fresh view of the Toral Project. We have identified mineralisation in multiple sub-vertical, sub-parallel planes and mineralisation associated with cross-cutting faults, as well as several different styles of mineralisation.
In addition, the channel samples show good grades at surface and the soil anomalies are continuous and high tenor.
“We have designed a compact Phase 1 drill programme at Toral, to intersect shallow targets that are largely untested to date."
Ferrum owns 100% of Toral, a zinc-lead-silver permit near Ponferrada in the west of the province of León in Spain.