The start of work at the Toral lead and zinc project in Spain is a “very exciting new avenue for this company”.
Those were the words of Justin Tooth, executive chairman of the mining group Ferrum Crescent (LON:FCR), speaking to Andrew Scott at Proactive.
It sets the firm off into the zinc business, which the firm decided would be a good move earlier this year based on what it sees as an upward trend for prices and demand.
Toral is one of two assets the firm acquired when it bought GoldQuest.
The work is aimed at building a data set so that an “intelligent” drill plan can be decided, earmarked to start in 2017.
Notably, historical work has focused on deep areas below 300metres but the Ferrum studies will look above that towards surface.
Project advisor Merlin Marr-Johnson said Spain was a “dream” to work in, with good rail and road links, a ready workforce and water access.
In addition, a smelter owned by Glencore (LON:GLEN) is just around 200km away from the project site.
Story by ProactiveInvestors