Exploration is under way on the Grandola licence in the Iberian pyrite belt of southern Portugal.
Four joint-venture partners — Redfern Resources (TSE), Cumberland Resources (TSE), International Vestor Resources (VSE) and Auspex Minerals (VSE) — have been granted rights to 213 sq. km on the famous belt.
More than 80 deposits are known to exist within the belt, the combined tonnage of which exceeds 1.3 billion tonnes of massive sulphide ore.
Previous work by the Portuguese government on the Grandola licence identified two gravity anomalies. The joint venture is conducting geochemical sampling on one of these, and will follow up with electromagnetic surveys.
The sampling and geophysical work will be completed within two months, to be followed by drilling.
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