TIDMMAFL
RNS Number : 5083X
Mineral & Financial Invest. Limited
27 November 2017
Mineral and Financial Investments Limited
("MAFL" or the "Company")
Geophysical Work Program At Lagoa Salgada Provides Definition To
Size and Scale of The Massive Sulphide Center of LS-1 Resource
HIGHLIGHTS:
- Mise-à-la Masse geophysical study confirms the centre of the
LS-1 resource is a massive sulphide
- Mise-à-la Masse study provides indicative dimensions of the
massive and semi-massive sulphide portion of the LS-1 resource of
over 475m of length and 200m of width.
- LS-1 Resource is composed of 3 distinct, contiguous zones:
massive-sulphide, gossan and stock-work
- 16 other known anomalies of the Lagoa Salgada property still left to be explored.
- Results from Hole LS-MS-05 intercepted mineralized zones, impacted by faulting
- Resource Update on LS-1 expected to be completed before year-end.
George Town, Cayman Island - November 27, 2017 - Mineral &
Financial Investments is very pleased to announce that its
49%-owned investment, TH Crestgate GmbH, a private Swiss-based
investment company, has completed a Geophysical Mise-à-la Masse
(MALM) program on the LS-1 resource within the 100% owned Lagoa
Salgada project. Mise-à-la Masse is also known as DC Resistivity
Survey. This geophysical program was conducted by a team of four
professionals from International Geophysical Technology (IGT) of
Madrid. The survey was done on holes LS-MS-01, LS-MS-03 and
LS-MS-06.
Jacques Vaillancourt, Chairman of Mineral and Financial,
commented: "Mise-à-la Masse" is essentially down-hole version of an
Induced Polarity (IP) study. The study gives greater definition of
detail to the ore-body's massive and semi massive sulphides
dimensions. As we have mentioned previously, the LS-1 is composed
of three types of mineralization: massive and semi-massive
sulphides, stockworks, and gossan. These results were excellent and
exceeded our expectations of the dimensions we had hoped for from
the Massive and semi-massive ore body. TH Crestgate remains on
track to complete a resource update by year end on the LS-1
resource. We continue to expect that the resource will be
increased"
The basis of this DC Geo-electrical method for mineral
exploration is to earth one current electrode (A) of a pair in a
conducting ore body intersected by a drill hole, the other
electrode (B) being far away (at infinity) and measures the
resulting distribution of potentials on the surface when a DC.
current pulse flows through electrodes A - B. Studies of this type
have also been termed "charged-body potential studies" or "applied
potential studies" (D.S. Parasnis).
The MALM method is normally used for mapping ore deposits with
high electrical conductivities such as sulfide bodies. When a
voltage is applied between A & B electrodes, electric potential
develops which can be measured on the surface and mapped.
Electrical potentials are measured using a pair of electrodes (M,
N) moving at incremental distances along survey lines that extend
over the prospecting area. The shape and size of localized
conductive deposits is reflected by the pattern of the electrical
potential measured on the surface.
The electrical potential shows a maximum over the conductive
body, so if it is elongated in a particular direction the potential
map at the surface will be elongated as well. The maximum values of
potential will be over the upper edge of the conductive body (see
Figure 1). For a homogeneous half-space the potential map will show
a spherical pattern centered on the horizontal projection of the A
electrode.
The Mise-à-la-Masse Method
(Figure 1)
http://www.rns-pdf.londonstockexchange.com/rns/5083X_-2017-11-24.pdf
The following conclusions were taken directly from the
study:
1. The Tertiary cover may relax the potential values at the
surface, but this effect does not mask the influence of the
conductive ore bodies where electrode A was earthed in the surveyed
drill holes.
2. From the potential maps IGT interpreted that the conductors
intersected by LS-MS-01, LS-MS-03 and LS-MS-06 drill holes look to
be the same one. Drill hole LS-MS-01 has intersected it close to
its SE end, LS-MS-03 has hit it at its central section, where the
ore body shows its maximum thickness and LS_MS_06 shows it at its
NW end. This conductive body (semi-massive sulfide deposit) extends
with N160(0) E azimuth along 500 meters approximately, it is
centered in the study area along stations 400 m from line L-2 to
line L-7.
3. Looking in detail to the potential profiles, three
independent conductive axis can be differentiated. Results are
exactly coincident for drillholes LS-MS-01 and LS-MS-03 and it
looks like drill hole LS-MS-06 has intersected an independent
conductor.
4. There is a third small conductive body at the North West edge
of the deposit, which is possibly as a result of the folding of the
ore body
5. The ore body appear to dip to the North East
Frequently Asked Questions About Mise-à-la-masse
1. What is Mise-à-la-masse? MLAM is a "three point" pole-dipole
electrical geophysical method that uses an applied voltage to
determine the dimensions of a mineralized ore body. When a voltage
is applied to a mineralized outcrop with an opposite polarity
applied to a second point far from the outcrop, current will flow
through the mineralized zone. Voltage potentials are measured to
create voltage contours surrounding the mineralized area. The
resulting contour map will give an accurate picture of the shape of
a subsurface mineralized area.
2. What is Mise-à-la-masse Survey? A MLAM survey is conducted
using a DC power source. A current cable is connected to a
mineralized outcrop or borehole and a second cable is connected to
a point far away from the mineralized area. As voltages are
measured on the surrounding area, a database of measurements and
their associated GPS location is created. A computer contour
mapping package is used to create a map of the equipotential
voltage contour lines. Contour lines define the direction (strike)
and the dip of an ore body in the earth.
3. What are Borehole Mise-à-la-masse'?: When boreholes are
available, it is possible to measure voltage potentials, and create
contour maps at different levels into the earth. Each contour map
gives insight to the dimension of the ore body at each different
level. An accurate three-dimensional presentation is obtained.
Composite Potential Map from MLAM survey on Holes:
LS-MS-01, LS-MS-03, and LS-MS-06
(Figure 2)
http://www.rns-pdf.londonstockexchange.com/rns/5083X_-2017-11-24.pdf
DRILL RESULTS FROM HOLE LS-MS-05
Drill hole LS-MS-05 was a very difficult hole technically as it
pierced thought several fault zones. Drilling was suspended at 260m
of depth. Indications are that the drill hole was sub-parallel to a
large fault that has cut and displaced the ore body shear zone.
Some of the faulted zones were completely sheared. Some intense
alteration zones were found. The hole is in the northern most area
of the ore. Due to the large amount of faulting there was
difficulty recovering the core and the assay results are not seen
as being indicative of mineral content in the area. Nevertheless
the hole did host some copper as high as 1.21% over one meter, zinc
as high 3.02% over one meter, silver as high as 59 g/t over one
meter and gold as high as 0.25g/t over one meter. The long section
image below shows our interpretation of the geology intercepted in
the hole. The information gathered from this hole is not likely to
impact the resource estimation, but does help improve our
understanding of the controlling structure to the orebody. We
continue to believe that there may be mineralization to the East
North-East, beyond the faulted zones. This belief is from the
indications within historical hole LS-24 that showed the
possibility of an eastern extension to the mineralization. This
spring's drill program on the Central Sector, which is 700m from
the nearest points of the LS-1 resource, showed that mineralization
extends much further to the east than previously evidenced. The
potential for more mineralisation is now further supported by the
MLAM results that indicate that the mineralization extends beyond
the eastern fault intersected on LS_05 drill hole.
Long Section of LS-MS-05 hole
(Figure 3)
http://www.rns-pdf.londonstockexchange.com/rns/5083X_-2017-11-24.pdf
LOCATION OF LS-1 SECTOR RESOURCE & "CENTRAL SECTOR" ALONG
WITH NEW (Green) AND HISTORICAL (Black) DRILL HOLES
http://www.rns-pdf.londonstockexchange.com/rns/5083X_-2017-11-24.pdf
ASSET DESCRIPTION
The Lagoa Salgada resource is centred on one gravimetric
anomaly, LS-1. There are a total of 17 gravimetric anomalies on the
property. These anomalies remain to be fully tested. A petrographic
study recently undertaken by TH Crestgate focused on the LS-1 area
of the Lagoa Salgada property and also indicated the presence of
anomalously high levels of indium in sphaleritic zones of
mineralization. The orebody is composed of a central stockwork zone
- a more than 700m thick volcano-sedimentary complex - and a
massive sulphide lens in the northwest. It is covered by more than
one hundred meters of sediments of the Sado Tertiary basin (Lima et
al., 2013, see below).
The historical, Canadian Institute of Mining (CIM) compliant,
resource estimate, located on LS-1, completed in 2012 by Paul
Daigle, P.Geo, is summarized below:
Category LS-1 Resource Summary
---------------------- -------------------------------------------------------------------
Contained
LS-1 Tonnes Mineral Grade Metal Units
Sector
---------------------- --------------------- ---------- -------- ------------ --------
Pb (%) 2.94 190,686,436 Lbs.
---------------------- --------------------- ---------- -------- ------------ --------
Zn (%) 3.40 220,521,729 Lbs.
---------- -------- ------------ --------
Cu (%) 0.34 22,052,173 Lbs.
---------- -------- ------------ --------
Ag (g/t) 54.72 5,175,824 Oz.
---------- -------- ------------ --------
Indicated 2,942,000 Au (g/t) 0.82 77,562 Oz.
---------------------- --------------------- ---------- -------- ------------ --------
Pb (%) 2.50 85,648,710 Lbs.
---------------------- --------------------- ---------- -------- ------------ --------
Zn (%) 1.80 61,667,071 Lbs.
---------- -------- ------------ --------
Cu (%) 0.35 11,990,819 Lbs.
---------- -------- ------------ --------
Ag (g/t) 51.00 2,548,073 Oz.
---------- -------- ------------ --------
Inferred 1,554,000 Au (g/t) 0.78 38,971 Oz.
---------------------- --------------------- ---------- -------- ------------ --------
Pb (%) 2.79 276,335,146 Lbs.
---------------------- --------------------- ---------- -------- ------------ --------
Zn (%) 2.85 282,188,800 Lbs.
---------- -------- ------------ --------
Cu (%) 0.34 34,042,992 Lbs.
---------- -------- ------------ --------
Ag (g/t) 53.43 7,723,897 Oz.
---------- -------- ------------ --------
Total 4,496,000 Au (g/t) 0.81 116,532 Oz.
---------------------- --------------------- ---------- -------- ------------ --------
Source: Tetra-Tech Wardrop
References in this announcement to exploration results and
resource updates have been approved for release by Joao Barros, BSc
(Engineering), MSc (Geology), who has more than 14 years of
relevant experience in the field of activity concerned. Mr Barros
is a Member of the Portuguese Engineers Association. Mr. Barros is
employed by Redcorp Empreedimentos Mineiros, Lda., a wholly owned
subsidiary of TH Crestgate GmbH, and has consented to the inclusion
of the material in the form and context in which it appears.
This report should be seen as indicative of possible mineral
content and not definitive, as the sample group is insufficient to
arrive at any economic conclusions.
For more information:
+44 780
Alastair Ford, M&FI 226 8247
Katy Mitchell and Jessica Cave, +44 161
WH Ireland 832 2174
Jon Belliss, Beaufort Securities +44 207
Limited 382 8300
NOTE TO EDITORS:
The technical specifications of the MLAM survey are summarized
below:
-- Line spacing was 100 m with SW-NE orientation.
-- Survey mode: Potential gradient measurements at 20 m intervals.
-- Polarity convention: A+, B- and N electrode of the receiving dipole pointed to the NE.
-- Intensity for the DC current pulses on the transmitting
dipole (A & B): Constant value 2.000 mA for every
measurement.
-- Location of electrode A in contact with intersected ore body:
At 200 m depth in LS_MS_01, at 175 m depth in LS_MS_03 and at 172 m
depth in LS_MS_06.
-- Tie lines were distributed as indicated in Figure 3. Three
tie lines, passing across station 240 of each survey line, were
measured to get the necessary data to produce a potential map for
each data set, that is to say for each surveyed drill hole.
This information is provided by RNS
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