Merida Minerals Inc. has launched its campaign on the Investing News Network’s resource channel.
Merida Minerals is a resource company working to develop the Puebla de la Reina (PBR) high-grade copper–zinc–lead project, located in the historic mining district of Extremadura in southern Spain. The region is home to more than 1,000 known mineral deposits and now offers established mining infrastructure to operators in the area. Merida intends to spend 250,000 euros on the property in 2020 as it continues a property-wide exploration program.
The PBR project hosts a volcanic-massive-sulfide (VMS) deposit featuring copper, zinc and lead mineralization. VMS-style deposits are generally regarded for their polymetallic nature, which often includes zinc and copper. Merida intends to leverage the area’s excellent mineralization and the Spanish government’s pro-mining policies in order to efficiently advance its exploration and mining activities.
Merida Minerals’ company highlights include the following:
- Merida is operating in a pro-mining jurisdiction with well-developed infrastructure and a skilled workforce.
- The PBR project is located in an established mining district with rich geology and access to roads, power and water.
- Historical exploration and research was conducted by IGME and Outokumpu in the 1980s and 1990s.
- Drilling by IGME cut a mass of approximately 300,000 tons with average grades of 11 percent zinc, 1.6 percent copper, 1.2 percent lead and 32 ppm silver.
- Outokumpu established a historical indicated resource of 500,000 tonnes of ore grading 1.6 percent copper, 11 percent zinc, 1.2 percent lead and 32 g/t silver.
- Merida has planned an upcoming exploration program to further develop the potential of the PBR project.
- Insiders own 70 percent of the company’s shares.
- Merida has a strong management team with extensive experience in the mining industry, including bringing the Aguas Tenidas copper-lead-zinc mine into production in Spain which lead to the C$995.6 million acquisition of Iberian Minerals by Trafigura Group Pte. Ltd.