13th Jun 2014 08:36
LONDON (Alliance News) - Minco PLC Friday said it has found zinc mineralisation in multiple regions in 11 of its 26 holes drilled to date on the North Pennines zinc-lead exploration project in northern England.
The manganese, lead and zinc drilling company said results from its most recent CA-017 site showed a region grading 19.55% zinc and 1.93% lead over a 0.40 metre space at a depth of 39.60 metres, along with a 2.7 metre space of zinc mineralisation grading 5.04% zinc at a depth of 91.75 metres.
The company said a second high-grade zinc mineralisation region grading 10.34% zinc and 0.97% lead over a 1 metre space was cut in its CA-016 hole.
Minco said its drilling to date totals 5,900 metres, and all 11 of the holes have reduced the risk from drilling for zinc in the prolific Great Limestone geological horizon and have shown other areas of mineralisation at multiple horizons on the site.
The company has focused the majority of its drilling during 2013 and 2014 on areas which saw most of the historical mining between the 17th and early 20th century at the site. It now plans additional drilling on the Gudhamgill and Scaleburn regions underneath the Great Limestone geological horizon.
Minco shares were up 2.6% to 2.00 pence on Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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