Variscan Mines (ASX:VAR) is set to commence its maiden drilling program at the Guajaraz Project in central Spain.
The company says it has designed a five-hole diamond drilling program totalling 1,430m to test high-priority polymetallic targets identified through geological mapping, geochemical sampling, and a deep ground penetrating radar (DGPR) survey.
The program targets zinc-rich mineralisation alongside lead (Pb), silver (Ag), and copper (Cu) at the project located 60km southwest of Madrid. Historical grab samples have returned up to 0.90% Cu and 278 parts per million (ppm) Ag.
According to Variscan, the program will test down-dip extensions of historically mined mineralisation, base metal anomalies, and deeper carbonate-hosted replacement-style zinc mineralisation across several historical mineralised structures identified through geological mapping and DGPR surveys.
The project comprises seven known mineral occurrences centred on the historical La Unión underground mine, which operated periodically from 1945 until the mid-1980s. The mining complex consists of galleries and shafts extending to 280m depth over 10 levels.
According to historical records, the mine produced ‘high-grade’ silver-rich lead and zinc (Zn) sulphides, with concentrates averaging approximately 70% Pb and 51% Zn alongside 1,500–3,000ppm Ag in concentrate.
Chairman Tony Wehby says the program expands the company’s regional exploration activities while work continues at the flagship Novales-Udías Project in Cantabria.
“Following our recent capital raising, the Variscan team is moving forward with renewed vigour across our entire Spanish portfolio,” Wehby says.
“By deploying a targeted, diamond drilling campaign, we are testing the broader potential of this heavily mineralised, yet underexplored, polymetallic system and simultaneously securing our tenement standing heading into the final stretch of the year.”
Variscan will file for a three-year extension of the Guajaraz tenement in September 2026 following completion of the drilling campaign. The company says drill sites have been finalised following crop harvests to improve access for the drilling rig.
Write to France Pinzon at Mining.com.au
Images: Variscan Mines
