26th Sep 2013 13:38
LONDON (Alliance News) - Minco PLC Thursday said it has found zinc-lead mineralisation on drilling results at its Northern Pennine Exploration Project.
The base metals exploration and development company, with operations in Ireland, Mexico, Canada and England, said its ongoing exploration drilling programme discovered zinc-lead mineralisation at the site, including a 8.44% grade combined zinc and lead mineralisation over 12.05 metres.
The company said the mineralisation was intersected across three drill holes at multiple elevations and the company is now moving forward towards its third phase at the site to begin next year, which will include a second drill.
"We believe these results confirm our initial opinion of the potential of the Northern Pennine Orefield for the discovery of new mineralization both extending laterally around and at depth below historic workings," Chief Executive John Kearney said in a statement.
Minco shares were up 7.78% to 5.47 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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