Ferrum Crescent hopes to add silver to Spanish project

Aim-listed Ferrum Crescent on Tuesday said it was hoping to include silver to its lead-zinc operation in Spain.

In a resource update, the Australian explorer said data location checks, data collection and analytical review procedures had been completed.

It said silver grades had been historically recorded but to date have not been verified through normal quality assurance/quality control procedures.

“Accordingly, the company, in association with (consultant) AMS, is now undertaking further data verification and analysis in order to verify the silver grades present within the Toral system,” Ferrum said.

“A further update will be provided once this additional work has been concluded. It is currently the intention of FCR to incorporate the silver data sets into the Joint Ore Reserves Committee (JORC) resource estimate following agreement with AMS.”

“If the silver data can be verified and is of sufficient certainty to be reported on under JORC, then the resource will be expanded and remodelled with completion still expected in early 2018.”

Executive director Myles Campion said: "The identification of silver as a possible credit element is very exciting, but under JORC guidelines this needs to be properly verified and if we can ultimately include this in our new JORC resource estimate for Toral then we will clearly do so. "