Recent drilling has confirmed the presence of a wide zone of copper mineralization within a known massive sulphide deposit at the Estaco base metal project in the Aljustrel area of southern Portugal.
Four Canadian juniors hold a collective 60% interest in the property, with the remaining 40% held by a state mining corporation. Auspex Minerals (apj-v) has a 30% interest, with Redfern Resources (rfr-t), Cumberland Resources (cbd-t) and International Vestor Resources (ivs-v) each holding a 10% stake.
The first hole of the current drill program intersected a 19.3-metre section grading 1.5% copper, 0.34% lead and 1% zinc, plus 19.46 grams silver and 0.12 gram gold per tonne.
This copper zone occurs near the base of the massive sulphide body, below a zone of zinc mineralization which returned 0.14% copper, 1.46% lead, 4.12% zinc, 52.46 grams silver and 0.26 gram gold over 29 metres.
The second hole of the program intersected several mineralized intervals, and assays are expected shortly. A third hole is in progress.
The partners are encouraged by the increase in the copper grade in the first hole, which they believe may indicate the presence of a copper-rich core in the deposit, similar to other deposits in the Iberian Pyrite belt.
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