Published: February 19, 2016 |

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Ferrum Crescent has optioned two interesting looking lead, zinc projects in northern Spain, one of which has seen 42 kilometers of historic drilling and analysis of the results will occur during due diligence.

The projects are located in the provinces of Leόn and Galicia, both historic Spanish mining areas and offer Ferrum the opportunity to acquire advanced exploration assets at low cost during the current downturn.

With Ferrum’s iron project in South Africa being progressed by its joint venture partner to fund a BFS, enabled Ferrum to target lead and zinc projects where the prognosis for prices is reasonably robust.

For just £22,500, Ferrum has a hold on licenses covering 2,024 hectares in the Province of Leόn, the Toral Project and the Lago Project in the Province of Galicia while undertaking due diligence until July end 2016.

Based on previous work all of the license areas would seem to be highly prospective for lead and zinc.

Previous owners Portex Minerals Inc. and Lundin Mining S.L.‘s Toral project is striking given extensive exploration carried out by previous owners and the 2,024 hectares of mineral rights has extensive high grade zinc mineralization.

What provides upside is sifting through existing data including the results of 42 kilometers of historic drilling conducted to date and more targeted exploration of shallow exploration targets along a 3.6 kilometer corridor.

The asset also has a pre-existing NI 43-101 resource estimate which if the option is exercised by Ferrum would likely see the resource converted to a 2012 JORC level.

While at the Lago Project, 54 kilometers to the north-east of the Toral Project, previous drilling saw 29 out of a total of 37 drill holes intersect zinc and lead.

The historic results appear extremely encouraging with one 9.5 meter intercept grading a 9.54 percent combined lead and zinc and 7.5 meter grading an even tastier 14.75 percent.

With that mineralized structure estimated to be over 1 kilometer in length, Lago, which is located not far from Teck’s formerly producing Rubiales mine, these projects could turn out to be not struck only bargain basement prices but potential exploration stars in the making.

Of that time will tell, at the very least Ferrum has dealt itself into a new valuation league on if due diligence passes muster.

Source: (February 17, 2016) Proactive Investors

About Ferrum Crescent
Ferrum Crescent is looking to capitalize on the future demand for iron and steel worldwide by producing iron products in South Africa, for both the domestic and the export markets.

To stop by Ferrum’s website, CLICK HERE

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