11th Mar 2009 07:00
11 March 2009
Minco Plc
PALLAS GREEN PROJECT, Co. LIMERICK
ADDITIONAL MINERALISATION ON NORTHWEST EXTENSION AT TOBERMALUG
Dublin, 11 March, 2009 - Minco plc (AIM -"MIO") is pleased to announce recent results from ongoing drilling at its Pallas Green zinc lead exploration project in Co. Limerick. The project is a joint venture with Xstrata Zinc. Four diamond drills operated through February completing a total of 1,556 metres.
Additional Drill Results from Tobermalug Zone
MN-636-118
Located 120 metres southeast of hole MN-636-107 (previously reported 9.05% Zinc and 1.46% Lead over 4.15 m) in the recently discovered Northwest Extension area of the Tobermalug deposit returned:
329.95 m - 338.70 m 8.75 m 14.95% Zinc 3.01% Lead
Including
329.95 m - 331.50 m 1.55 m 31.21% Zinc 3.99% Lead
335.80 m - 338.15 m 2.35 m 31.10% Zinc 7.42% Lead
MN-636-114
Located in the central part of the Tobermalug deposit returned:
493.35 m - 499.15 m 5.8 m (4.3 m vertical) 10.29% Zinc 2.96% Lead
MN-2529-075
Located on the eastern margin of the central part of the Tobermalug deposit returned:
491.15 m - 492.00 m 0.85 m 5.51% Zinc 0.02% Lead
MN-2529-069
Located in the south central part of the Tobermalug deposit returned:
774.95 m - 776.25 m 1.30 m 9.26% Zinc 1.91% Lead
Drilling is continuing in the Northwest Extension area with one drill as well as to the south where three drill rigs are working to explore the southern extension of the deposit. Recently acquired data from surface geophysical surveying and chemo-stratigraphic mapping within the overlying volcanic rocks suggest that the controlling boundary fault system lies immediately to the south of current drilling.
Comment by Chief Executive
Commenting on the drill results, Terence McKillen, Chief Executive said, "The results of holes 114 and 118 are very encouraging, particularly hole 118 which intersected high grades of zinc. The Northwest Extension area has the potential to add significantly to the mineral resource at Tobermalug."
Qualified Person
The above information has been reviewed and verified by Mr. Terence N McKillen, B.A. (Mod), M.A., M.Sc., P.Geo., Chief Executive Officer. Mr. McKillen is the Qualified Person for the purposes of the AIM Guidance Note on Mining, Oil and Gas Companies dated March 2006. Mr. McKillen holds degrees in Geology from the University of Dublin (Trinity College) and the University of Leicester. He has 40 years of exploration experience in Ireland and internationally.
About Minco
Minco PLC is an AIM quoted precious and base metals exploration and development company engaged in zinc exploration on the Pallas Green property in Ireland in a joint venture with Xstrata Zinc and investments in zinc-silver projects in Mexico through its 60% shareholding in Xtierra Inc. listed on the TSX Venture Exchange (Toronto) under the symbol "XAG".
|
For further information, www.minco.ie or contact: |
|
|
John Kearney: Executive Chairman |
+1 416 362 6686 |
|
Terence McKillen: Chief Executive |
+1 416 362 8243 |
|
Danesh Varma: CFO & Company Secretary |
+44 (0) 8452 606 034 |
|
John Frain / Fergal Meegan: (NOMAD) Davy |
+353 (0)1 6796363 |
Related Shares:
Minco PLC