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Mineral and Financial Investment upgrades zinc resource in Portugal

Resources in the most certain or measured category rose by 57% to 2.8 Mt at 10.7% ZnEq.

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Gold mineralisation at the site was also upgraded to 1.7Mt at a gold grade of 4.6g/t.

Mineral and Financial Investment Limited (LON:MAFL) has converted a sizeable chunk of the zinc resource at Lagoa Salgada in Portugal to Measured & Indicated from Inferred.

Most of the resource is situated within the North Zone and here the M&I resource rose by 71% to 10.3Mt and at a grade of 9.1% zinc equivalent.

Within that, resources in the most certain or measured category rose by 57% to 2.8 Mt at 10.7% ZnEq.

Total zinc resources at the site are 20.7Mt.

Gold mineralisation at the site was also upgraded to 1.7Mt at a grade of 4.6g/t.

MAFL added that drilling in the Central and South Zones identified copper-rich sulphide mineralization and future exploration will focus on expanding and upgrading these areas.

Partner Ascendant carried out the 8,164m drill programme and MAFL is hoping to a preliminary economic assessment can be published before the end of the year.

To date, the North Zone has been delineated by less than a total of 76 holes.

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Price: 11.25 GBX

AIM:MAFL
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Market Cap: £3.94 m
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Mineral & Financial's Jamie Lesser discusses Lagoa Salgada resource update

Mineral and Financial Investments Ltd's (LON:MAFL) Jamie Lesser tells Proactive London they've moved closer towards their aim of developing the Lagoa Salgada VMS project in Portugal after reporting a 71% increase in measured and indicated resources at the North Zone part of the property. The...

on 1/10/19

2 min read