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Drilling Starts at Toral Lead-Zinc Project, Spain
FERRUM CRESCENT LIMITED
(Incorporated and registered in Australia and registered as an external company in the Republic of South Africa)
(Registration number A.C.N. 097 532 137)
(External company registration number 2011/116305/10)
Share code on the ASX: FCR
Share code on AIM: FCR
Share code on the JSE: FCR
Australian ISIN: AU000000WRL8
South African ISIN: AU000000FCR2
25 May 2017
Ferrum Crescent Limited
(“FCR” or the “Group”)(ASX, AIM, JSE: FCR)
Drilling Starts at Toral Lead-Zinc Project, Spain
Highlights:
- Drilling operations underway at FCR’s wholly-owned Toral Lead-Zinc Project
(“Toral”), Spain
- Diamond core drill programme is targeting shallow lead-zinc mineralisation
- A total of 2,100 metres of diamond drilling planned
FCR, the European lead-zinc explorer, is pleased to announce the start of drilling
operations at its wholly-owned Toral project, located in the Leon Province of northwest
Spain. Drilling will target mineralisation within 150m of the surface, located above the
historic lead-zinc resource, that was originally assessed by a third party in 2011 and 2012,
details of which were announced by FCR on 10 November 2016.
This Phase 1 diamond drilling programme is specifically designed to test shallow
mineralisation. The planned holes are located along a two-kilometre geochemical
anomaly, in zones determined by FCR’s exploration team to host the most prospective
mineralising characteristics. The two-kilometre anomaly will be targeted in three separate
areas. Drilling will start at the northern end of the geochemical anomaly in Zone 1 and
progress south through Zone 2 and into Zone 3. The first zone will be tested with seven
holes, over a strike length of 200m and a breadth of 150m and down to approximately
150m below surface. Zone 2 will be tested with one hole and Zone 3 with three holes over
100m of strike. The drill programme is expected to take less than ten weeks to complete.
Figure available on www.ferrumcrescent.com
Commenting today, Justin Tooth, Executive Chairman of FCR, said:
“We are pleased to have started FCR’s first drilling campaign for lead-zinc in Spain. This
shallow drilling programme at Toral is targeting new mineralisation at surface to add to the
known lead-zinc intersections at depth for which an historic resource estimate of 8.71m
tonnes at an economic cut-off grade of 7% lead plus zinc was previously disclosed. Our
objective is to define the presence of further lead-zinc deposits near to surface similar to
the nearby Antonina and Rubiales projects where mineralisation has been mined in the top
200m sub-surface.
“This drill programme marks the start of a new phase of work following our extensive
groundwork between November 2016 and March 2017. The additional information that we
gain from this drill campaign will be an important step in linking the known mineralisation at
depth with the mineralisation in the upper parts of the Toral project. We expect that
successful campaign results will lead to further exploration work with a view to delineating
a lead-zinc deposit in this politically stable region. I look forward to providing further
updates over the coming months.”
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, Non-Executive Director (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)
Doné Hattingh T (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.
Date: 25/05/2017 09:23:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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