15th Sep 2014 09:33
LONDON (Alliance News) - Minco PLC Monday said it has commenced drilling on four holes at its zinc, lead, copper and volcanogenic massive-sulphide project in Buchans in Newfoundland, Canada.
The programme is due to test for shallow extensions to the former Lucky Strike orebody at the site and will focus on an area 150 metres south of the former mine workings. Historic shallow drilling at the former mine intersected high-grade massive sulphides but had poor core recoveries due to small-core diameter drilling undertaken at the time, Minco said.
The recent relogging of archived drill cores by Minco during its exploration programme over the summer indicates high-trade massive sulphide mineralisation occurs in the area at depths of less than 100 metres below a shallow, south-dipping fault structure.
Minco shares were up 3.0% to 1.545 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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