Last checked at 21 Jun 2017 07:00
21 June 2017
Ferrum Crescent Limited
("FCR", the "Company" or the "Group") (ASX, AIM, JSE: FCR)
Appointment of Technical Consultant and Update re Toral Lead-Zinc Project
FCR, the European lead-zinc explorer, is pleased to provide the following update on its activities.
Appointment of Technical Consultant
The Company has engaged the geological advisory services of Mr Myles Campion to assist in progressing its current exploration portfolio in Northern Spain. Mr Campion has extensive professional experience in resource delineation, both as an exploration geologist and as a resources sector fund manager.
Mr Campion has a comprehensive background in all technical and financial facets of the resources sector, specialising internationally in resource evaluation and project assessment. He holds a BSc (Hons) in Geology from the University of Wales College, Cardiff, an MSc (MinEx) from the Royal School of Mines in London and a Graduate Diploma of Business (Finance). Mr Campion's financial experience ranges from Australian and UK equities research through to project and debt financing in London, covering a broad spectrum of mining companies with an extensive knowledge of the global resources market across the three main bourses, namely AIM, ASX and the Toronto Stock Exchange. This knowledge base was applied effectively as a Fund Manager at Oceanic Asset Management, where he successfully managed an Open Ended Investment Company which was traded in London, achieving an outperforming 50 per cent. return over five years.
His prime responsibilities in respect of FCR's portfolio assets are to oversee all geological aspects of the Company's operations and to advise FCR's senior management in optimising its growth and exploration activities. Mr Merlin Marr-Johnson, previously the Company's Senior Project Manager, has recently left the Group to pursue his other business interests and the Company thanks him for his valuable contribution.
Toral Project Update
FCR's current drill programme at Toral is progressing on schedule. Visual identification of lead-zinc associated minerals in the core extracted from the completed holes to date, confirms the main precepts of the Company's new geological model with respect to the near-surface target zone. More detailed geological and metallurgical analysis will be undertaken via assaying of the drilled core in order to determine more fully the quantitative characteristics of the lead-zinc mineralisation near to surface within the target zone.
Commenting today, Justin Tooth, Executive Chairman of FCR, said:
"Having Myles Campion join us a technical consultant is a fantastic and timely opportunity to complement the existing expertise of our senior team. His extensive experience as both an exploration geologist and a resources fund manager provides us with real strength in the skill sets that we now require to deliver optimal value as we progress with drilling on our main lead-zinc project at Toral. I look forward to updating the market further in due course when we get our initial exploration results from this campaign."
For further information on the Company, please visit www.ferrumcrescent.com or contact:
Ferrum Crescent Limited
Justin Tooth, Executive Chairman
Grant Button, Director and Company Secretary
T: +61 8 9474 2995
UK enquiries:
Laurence Read (UK representative)
T: +44 7557 672 432
Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler
T: +44 (0)20 7409 3494
Beaufort Securities Limited (Broker)
Elliot Hance
T: +44 (0)20 7382 8300
Bravura Capital (Pty) Ltd (JSE Sponsor)
Melanie De NysschenT (direct): +27 11 459 5037
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.