Mineral & Financial investment posts promising test results

Mineral & Financial Investment was celebrating success at one of its investments on Thursday, as TH Crestgate updated the market on its activities.

The AIM-traded firm holds a 49% stake in TH Crestgate.

It said TH Crestgate had now completed its petrographic study on four holes at Lagoa Salgada.

The project now showed significantly higher indium and selenium content than expected, as well as the previously identified zinc, lead, copper, silver and gold.

TH Crestgate said the petrographic study, which was completed by the University of Porto geoscience department, was part of a broader exploration program currently underway.

“The directors of TH Crestgate have advised us that now they have successfully vended the Spanish lead zinc assets from their portfolio they are now focusing on progressing value from the Portuguese lead zinc assets acquired from Portex in 2015,” said Mineral & Financial chairman Jacques Vaillancourt.

“We believe petrographic studies are an extremely cost effective way to make metallurgical determinations and we believe the results demonstrate very positive indications of credits from gold, indium and selenium.”

Vaillancourt said combined with the lead-zinc resource and the belief that there is a copper-bearing zone in the central sector, which is about 1,000 meters south of the known LS1 indicated and inferred resource, TH Crestgate believes there is significant value that remains to be identified at Lagoa Salgada.

“TH Crestgate is now completing an induced polarity study on the project to help it assess how to progress along one of the numerous pathways available to us from Lagoa Salgada.”