28th Oct 2014 10:09
LONDON (Alliance News) - Minco PLC on Tuesday said it has found multiple intersections of sulphide mineralisation at the Buchans site in Newfoundland in Canada, saying the results confirm the extension of the sulphide horizons at the site.
Minco said the results of a four-hole drilling programme showed grades as high at 26% combined zinc, copper and lead over 1.45 metres. Two of the four holes intersected high-grade mineralisation at the relatively shallow Lucky Strike horizon, and three of the four holes successfully intersected the deeper Engine House horizon, around 40-50 metres below the Lucky Strike horizon.
Minco shares surged on the back of the news, rising 32.4% to 1.589 pence Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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