JOHANNESBURG (miningweekly.com) – ASX- and Aim-listed Ferrum Crescent has been granted a renewed, three-year exploration licence for its Toral project, in Spain, effectively resetting the “exploration clock” for the lead/zinc assets.
Ferrum Crescent subsidiary GoldQuest Iberica, which is the holder of the Toral exploration licence, has submitted and presented the project’s previous exploration work and planned programmes to the province of Leon, which resulted in the director-general granting the licence renewal.
The renewal comes at a time when Ferrum Crescent is being refocused on building value from its Europe lead/zinc portfolio.
Ferrum Crescent executive director Laurence Read, who together with Myles Campion is leading a revised strategy for Toral, which focuses on producing a Joint Ore Reserve Committee- (Jorc-) compliant resource estimate and enhancing the firm’s understanding of the project economics.
“The company is currently undertaking a full consolidation, review and reanalysis of all the available data collated to date for Toral with its independent consultants, Addison Mining Services. A formal site visit by the appointed independent is now under way, following which the company will progress its planned Jorc-compliant resource estimate for Toral,” Read said on Wednesday.