23rd Apr 2018 14:15
LONDON (Alliance News) - European lead-zinc miner Ferrum Crescent Ltd said Monday that it has hired Spanish consulting company Mining Sense Consultancy to assist the operational team focused on the Toral lead, zinc and silver project in Spain.
Mining Sense will assist with preparing drilling sites and contracting drilling operators, taking on the first desktop study on the local area and industrial operations and agreeing to preliminary economic assessment parameters and schedule for completion.
The consultancy will also work on drilling the eastern extension of the project to identify further resources and assess development pathways for bringing Toral into production.
The agreement on contractual payment terms to carry out the work set out above is conditional on Ferrum Crescent gaining approval to issue shares to raise GBP1.0 million at the company's general meeting on May 21.
Shares in Ferrum Crescent were up 0.7% at 0.078 pence on Monday.