Ferrum Crescent Ltd Appointment of Mining Sense Consultancy (7000L)
April 23 2018 - 2:00AM
UK Regulatory
TIDMFCR
RNS Number : 7000L
Ferrum Crescent Ltd
23 April 2018
23 April 2018
Ferrum Crescent Limited
("FCR", the "Company" or the "Group")(ASX, AIM, JSE: FCR)
Appointment of Mining Sense Consultancy
FCR, the European lead-zinc explorer, today announces that it
has engaged the services of Mining Sense Consulting ("Mining
Sense") (www.miningsenseconsulting.com), a Spanish consultancy
company to the mining industry, to complement the existing
operational team focused on the Toral lead, zinc and silver
project, located in the Province of Leon, Spain (the "Toral
Project").
Mining Sense's Technical Director, Jesús Montero, will lead the
consultancy team dedicated to the Toral Project. Working alongside
the Company's existing in-country management, under the direction
of Myles Campion, Group Technical Director, Mining Sense will
assist with:
-- Preperation of exploration drilling sites and contracting drilling operators;
-- Undertaking first desktop study on local area and industrial operations; and
-- Agreeing Preliminary Economic Assessment (PEA) parameters and schedule for completion
The Mining Sense team will be embedded within the operations
team at the Toral Project and will work with the Company to pursue
its stated objectives of:
-- Providing a preliminary economical assessment and conceptual
mine plan for the Toral Project
-- Drilling the eastern extension to identify further resources
-- Assess development pathways for potentially bringing the Toral Project into production
Whilst Mining Sense has already begun work for the Company in
respect of the Toral Project, agreement on contractual payment
terms for the work to the scope set out above is subject to the
Company receiving approval for the issue of new ordinary shares in
the Company to raise up to GBP1,000,000 (gross) pursuant to the
conditional fundraising announced on 21 March 2018, at the
Company's forthcoming general meeting on 21 May 2018.
Jesús Montero is a mining engineer, specialising in mine
planning and design, with over 15 years industry experience working
on exploration to production projects. Mr Montero has been involved
in the design and development of two flagship mining projects in
Spain; Berkeley Energia's Uranium project in Salamanca and the
Cobre Las Cruces Copper Mine near Seville.
Over the last five years, Mr Montero has driven the mining
studies and initial construction of the Berkeley Energia's
Salamanca project as Mining Manager. Following the publication of a
Definitive Feasibility Study, the project is now being fast tracked
into production, with full construction currently underway.
Myles Campion, Group Technical Director, commented today:
"We welcome Mining Sense and Mr Montero to the team we are
building at Toral. Jesús brings with him the technical capabilities
of Mining Sense as a group, and also significant first hand
development experience in Spain. This is a great first step on the
road to defining and developing our Pb/Zn deposit at Toral."
For further information on the Company, please visit
www.fcrexploration.com or www.ferrumcrescent.com or contact:
Ferrum Crescent Limited
Dan Smith, Non-Executive Director and Company Secretary
(Australia)
T: +61 417 978 955
Laurence Read, Executive Director (UK)
T: + 44 (0)20 3289 9923
Strand Hanson Limited (Nominated Adviser)
Rory Murphy / Matthew Chandler
T: +44 (0)20 7409 3494
Turner Pope Investments Limited (Joint Broker)
Andy Thacker
T: +44(0)0203 621 4120
Peterhouse Corporate Finance Limited (Joint Broker)
Lucy Williams / Duncan Vasey / Heena Karani
T: +44 (0)20 7469 0930
Bravura Capital (Pty) Ltd (JSE Sponsor)
Melanie De Nysschen
T (direct): +27 11 459 5052
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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