Ferrum Crescent PLC (LON:FCR) is hoping to add silver as an additional metal at its Toral lead and zinc project in Spain.
Myles Campion, executive director, said identifying a potential silver credit was very exciting but would require verification to be included under Australian standard JORC guidelines.
READ: Ferrum Crescent extends exploration phase for Toral project
Silver grades have been historically recorded at the deposit but to date have not been verified through normal quality assurance/quality control procedures.
Consultant AMS will work with Ferrum to verify the silver grades.
A new deposit model at Toral will bring together data from two historical third party drill campaigns, underground channel sampling from the numerous adits and the results from the diamond drill campaign completed earlier this year.
READ: Ferrum Crescent brings industry veteran Colin Bird on board through £185,000 placing
Campion added: "The work currently underway on the JORC 2012 resource estimate for our Toral Project is progressing well across a large historical data set.
“We are developing our understanding of the geology at Toral by bringing together all the information for the first time into a 3D model.”
The updated business model will be published early in 2018.