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Ferrum Crescent tops up funds after encouraging Toral grades

Company raises £193,000 to fund more exploration at the site in Spain

picture of Toral propsect
Toral is in Spain

Lead and zinc explorer Ferrum Crescent PLC (LON:FCR) has raised nearly £200,00 to fund further exploration at its Toral and Lago projects in Spain.

Shares were issued at 0.09p by new house broker, Peterhouse.

The explorer yesterday reported it had hit high lead-zinc concentrations near the surface at Toral.

READ: Ferrum Crescent hits high grade lead/zinc near surface at Toral

Six holes in the latest drill programme all hit lead and zinc while three contained high grade zinc intercepts.

Justin Tooth, executive chairman, described the results as ‘most positive’, especially the grades above 10% within 200 metres of surface.

Zinc prices have also risen strongly in recent months, he noted.

Ferrum raised £225,00 in June through a placing at 0.095p.

READ: Ferrum Crescent unveils £225,521 placing for Spanish exploration

Quick facts: Europa Metals Ltd

Price: 13.1 GBX

Market: AIM
Market Cap: £4.38 m

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