23rd Jan 2014 11:43
LONDON (Alliance News) - Minco PLC Thursday announced the start of its 2014 winter exploration drilling programme on the Clementine West base metal sulphide prospect in Newfoundland, Canada.
The base metals exploration and development company, with operations in Ireland, Mexico, Canada and England, said the winter programme will include 2,200 metres of drilling in four to five drill holes and is designed to test a large zone of mineralisation to depths of 300 metres or more.
The company said it has identified several priority target areas where mineralisation remains open, and drilling is expected to take four to six weeks to complete and may lead to the discovery of new high-grade massive sulphides deposits.
The company said the Clementine West site is located six kilometres from the former Buchan Mines where the American Smelting and Refining Co mined 16.2 million tonnes of ore averaging 14.51% zinc, 1.33% copper, 7.56% lead, 126 grams per tonne silver and 1.37 grams per tonne gold between 1928 and 1984.
Minco shares were down 1.7% to 2.58 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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