Mineral & Financial Investments Ltd - Cayman Islands-based investment company - Notes that investee Redcorp Empreedimentos Mineros Lda and Ascendant Resources Inc have identified copper rich stockworks below the North Zone at the Venda Nova mineralisation at the Lagoa Salgada project in Portugal.
In addition, Redcorp finds potential massive sulphide lends lateral to the south zone at Venda Nova.
"The infill drilling and DPEM programs have uncovered some very positive unexpected outcomes which solidify our long-held belief that the Lagoa Salgada property is still in the very early discovery phase of exploration, with significant untapped resource growth remaining. The potential to grow both the North and South zones of Venda Nova, which are approximately 400 meters apart, as well as a prospective new target to the northeast of the property has the potential to be transformational for Redcorp," said Chief Executive Officer Jacques Vaillancourt.
Current stock price: 11.10 pence
12-month change: down 5.5%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Mineral & Fin (MAFL)