25th Jan 2016 12:23
LONDON (Alliance News) - Minco PLC Monday published the results of its drilling campaign at Bobbys Pond and Daniels Pond in Canada, and said it has sent off samples for metallurgical testwork.
The miner said it completed its drilling programme over the two deposits, with the primary aim of collecting fresh rock samples for metallurgical testing.
A total of 781 metres of diamond drilling in seven twin holes was completed in November and December 2015 for the collection of unoxidized samples for new metallurgical testwork.
Some of the intercepts from Daniels Pond included 6.0 metre interval at 0.18% copper, 2.12% lead, 4.91% zinc, 108.95 grammes of silver and 0.36 grammes of gold per tonne of ore; 8.85 metres at 0.73% copper, 8.71% lead, 16.48% zinc, 236.77 grammes of silver and 0.77 grammes of gold per tonne of ore and 8.0 metres at 0.12% copper, 0.92% lead, 2.72% zinc, 39.41 grammes of silver and 0.52 grammes of gold per tonne of ore.
Some of the intercepts from Bobbys Pond included 1.55 metres at 3.64% copper, 0.01% lead, 1.76% zinc, 12.76 grammes of silver and 0.15 grammes of gold per tonne of ore; 2.85 metres at 0.69% copper, 2.87% lead, 8.49% zinc, 86.01 grammes of silver and 0.23 grammes of gold per tonne of ore; and 7.85 metres at 2.4% copper, 0.06% lead, 7.61% zinc, 10.62 grammes of silver and 0.2 grammes of gold per tonne of ore.
The intent and objective of the programme is to determine the technical and economic viability of developing the companies' key deposits into producing operations by utilizing a central milling facility.
The concept is based on the potential that collectively, the satellite deposits can be economically mined, pre-concentrated, trucked and then milled simultaneously or sequentially through a central mill, said Minco.
Minco shares were up 6.0% to 0.530 pence per share on Monday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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