Jacques Vaillancourt, CEO of Mineral & Financial Investments Ltd (AIM:MAFL) says grades announced at Lagoa Salgada in Portugal amounted to around US$1,000 per tonne of in-situ zinc from the best intercept.
A very acceptable grade for a successful zinc mine is around 7%, he adds, these were 22.7% over a width of 79m at best.
If it were a gold mine, people would be doing cartwheels, he adds.
Importantly also, he says, is that Portugal has also declared the project one of national interest and will assist in the permitting.