Mineral and Financial Investments has reported good copper grades from latest drilling at the Venda Nova South Zone on its Lagoa Sagalda project.
Best of the assays was 10m at 2.89% copper with 9m at 2.29% at depths of around 300m also recorded in another hole.
Jacques Vaillancourt, chief executive, said: "We continue to be very pleased by the results of Redcorp's 2022 drill program at Lagoa Salgada.
“Not only do we expect strong conversion and upgrading of resources to support our ongoing feasibility study but these results reinforce our belief that the Venda Nova Deposit and the Lagoa Salgada project as a whole will continue to grow the resource base and that overall Lagoa Salgada remains in the discovery phase.
"Additionally, we are encouraged by the confirmation that South Zone also appears to hold copper-dominated mineralisation similar to what we are seeing at depth in the North Zone.
"Additional drilling in the future is expected to expand on these discoveries."