Figure 1 – Location of the two main sectors (north and south) of the Lagoa Salgada polymetallic massive sulphide deposit on the left. Drill core samples illustrating the various types of mineralization present in the northern sector (Gos – Gossan; tMS – Transition Massive Sulphide; pMS – Primary Massive Sulphide; str- Stringer) and in the southern sector (A and B – Remobilized and fissural mineralization cutting late quartz veins; C – Remobilized and fissural mineralization cutting stratification with mineralization; D – Example of Semi Massive Sulphides).
Copper - Zinc
Lagoa Salgada
The Lagoa Salgada project is governed by a concession contract for the exploitation of copper, lead, zinc, gold, silver, tin, manganese, barium and pyrites metallic mineral deposits, with registry number C-168. The polymetallic massive sulphide deposit is subdivided into 2 main sectors, the northern sector, where massive sulphides occur (more enriched in zinc and lead), and the southern sector, with stockwork-type mineralization (more enriched in copper). Both are capped by a layer of sediment dating back to the Cenozoic, which can be up to 200 meters thick, and which has preserved a gossan containing gold, silver and tin.
The most recent Definitive Feasibility Study (2023) indicates total mineral resources of 27.56 million tons.
Table 1 – NI 43-101 Lagoa Salgada Mineral Resource Estimate (2023). Source: NI 43-101 Technical Report and DFS for the Lagoa Salgada Project (2023), Quadrante Engenharia
Mineral reserves, indicated in the same study, total 14.6 million tons, with 0.37% Cu and 1.84% Zn.
Table 2 – NI 43-101 Lagoa Salgada Mineral Reserve Estimate (2023). Source: NI 43-101 Technical Report and DFS for the Lagoa Salgada Project (2023), Quadrante Engenharia
This project is owned by the consortium EDM – Empresa de Desenvolvimento Mineiro & Redcorp, in which EDM has a 15% stake and Redcorp owns 85%. In turn, Redcorp is 80% owned by Ascendant Resources Inc. and 20% by the investment fund Mineral & Financial Investments Ltd. The consortium agreement between EDM and Redcorp was signed in September 2013. Ascendant Resources, based in Toronto (Canada), is focused on developing the Lagoa Salgada mining project, which aims to extract copper, lead, zinc, tin, gold and silver ores underground.
In 2022, this project was considered a PIN project (Project of National Interest), a status granted by the Portuguese Investment and Foreign Trade Agency (AICEP), making it the first mining project to gain this status in Portugal.