24th May 2005 07:00
Minco PLC24 May 2005 MINCO PLC Commencement of drill programme - Gold/Silver exploration in Santa Cruz, Mexico * 7000 metre diamond drill programme planned for 2005* Programme focused on gold/silver rich area of Mexico* Ongoing geochemical and geophysical evaluations providing additional drill targets. London 24 May 2005: AIM listed precious metals developer Minco plc (MIO)('Minco', 'the Company') announces today that drilling on the Company's MineraSisa concessions, located in the Sierra Madre Precious Metals Belt in Mexico,has commenced. The drilling programme will initially be focused on the SantaCruz and La Fragua properties with the aim of further defining the gold/silvermineralisation with the intention of delineating a resource. The diamond drilling programme to be completed in 2 phases in 2005 totals aninitial 7000 metres. The first phase of the drill programme will be focused in the Santa Cruz and LaFragua - Orosco areas of the concession. The initial targets have beenidentified through geochemical evaluation previously carried out in the areawhich indicated gold/silver mineralisation extending over 5 kilometres. The second phase will be located in the historically rich Zambranena area whichreported grades in excess of 1 ounce per ton of gold and 3 kilogrammes per tonneof silver in the vein structures contained in the mineralised zones. Drillcollar locations will once again be targeted from the ongoing systematicgeological evaluation of the area. Matthew Dorman, CEO, speaking from site in Mexico today said ' Starting thedrill programme on the Minera Sisa concessions is an important advance for Mincoand keeps us on target for having a substantial defined resource at the project.Ongoing geochemical and geophysical evaluations will provide us with additionaldrill targets, particularly in the historically gold and silver rich Zambranenaarea of the concession.' Minco continues to develop its other silver concessions in Mexico, the mostadvanced being the Laguna Zacatecana project which is aimed at being inproduction in 2006. In addition a 9,000 metre diamond drill programme isunderway on the highly prospective Pallas Green zinc licence area in Irelandwith its joint venture partner Noranda Inc. For further information Matthew Dorman; CEO, MincoTel: +44 (0) 207 947 3237 Email: [email protected] Roger Turner; Chairman, Minco,Tel +44 (0) 1273 495 500 E-mail: [email protected] Laurence Read/ Amanda Harris; ConduitPR+44 (0) 207 618 8707 / +44 (0) 7979 955 923 E-mail: [email protected] MINCO is a precious metals development and exploration company traded on the AIMmarket in London. Ticker symbol (MIO), www.minco.ie This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Minco PLC