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Mineral & Financial Investments Ltd on Tuesday hailed drill results reported by an investee from an asset in Portugal.
Mineral & Financial Investments shares closed up 35% at 13.18 pence on Tuesday in London.
The investment company said investee Redcorp Empreedimentos Mineiros Lda, one of the operators of the site, reported results from six metallurgical holes drilled between November 2021 and March 2022.
The holes were drilled at the Venda Nova deposit, located at the wider Lagoa Salgada project in Portugal.
Drill results currently being reported have indicated continuous intervals of high grade mineralised in the north zone of the deposit. Among the findings were a new subdomain, rich in both copper and silver.
M&FI President Jacques Vaillancourt said: ‘Redcorp's metallurgical and infill drilling programme continues to enhance the potential resource and economic opportunity we see at Lagoa Salgada and these exceptional high-grade results and new enrichment blanket demonstrate we are still in the early stages of understanding the mineral endowment at the Venda Nova area.
‘With these strong results, we continue to focus on rapidly progressing our feasibility study; however, we continue to believe there is still significant upside at Venda Nova and the greater Lagoa Salgada land package.’
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