Mineral & Financial Investments Ltd - Cayman Islands-based investment company focused on the natural resources sector - Notes investment update from Redcorp Empreedimentos Mineiros Lda with metallurgical test results as part of wider ongoing tests to be included in a feasibility study for the Venda Nova deposit at the Lagoa Salgada project in Portugal. The feasibility study is targeted for completion this month.

Says test results confirm saleable concentrate with commercial recoveries and precious metal credits, with metallurgical improvements found relative to 2021 analysis. Flotation testing and optimisation tests for final grade and recovery profiles to be completed shortly. Says final flotation tests should determine final grade recovery curves for the optimal grade and recovery for financial analysis. The programme is funded and guided by Ascendant Resources Inc, which owns 50% of Redcorp as part of its earn-in agreement with Mineral & Financial.

Mineral & Financial Chief Executive Officer Jacques Vaillancourt says: ‘It is a very common feature of the Iberian pyrite belt that the metallurgy is complex, as we have noted in the past, due to the polymetallic nature of the ores...These results, we believe, will support a robust feasibility study.’

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