Drilling results have returned thick zinc mineralisation outside of the current mineral resources at Variscan Mines’ (ASX:VAR) San Jose Mine in northern Spain.
The drilling was focused on following objectives to support the eventual restart of production at San Jose, and tested new structural targets defined from a recently completed structural geology study.
Some of the results include 14.1m @ 5.31% zinc and 0.44% lead; and 11m @ 6.66% zinc and 0.72% lead.
Variscan says the results suggest mineralisation intersected outside the existing resource estimate model, which may deliver further growth potential.
Managing Director Stewart Dickson says drilling is continuing and the company remains on track to update the resource estimate by the end of the year.
“We believe that a sizeable tonnage of high-grade zinc sulphide mineralisation remains and has been untouched for decades,” he says.
“Using our own portable drill rig and staff, we are able to conduct this program efficiently, cost effectively and with a high degree of flexibility.
“With the potential to grow the mineral resource, the opportunity to unlock further value from the outstanding and newly enlarged Novales-Udias Project continues to be apparent. We continue to progress one of the highest grade, development stage zinc deposits in Europe towards restarting production.”
The company is planning to begin drilling at the Udias Mine, which is linked to San Jose. Variscan says this complex has not yet been been drill tested.
Variscan has compiled and reported historical drillhole data which indicates there is “excellent” continuity of mineralisation extending along strike in a southwesterly direction over 1.4km between the San Jose Mine and Udias workings.
The company will also continue its upscaled underground drilling program. Further drill results are anticipated in the coming months, with a planned surface drilling program.
Variscan Mines is a growth-oriented resources company focused on acquiring, exploring, and developing strategic mineral projects. The company has a portfolio of projects in Spain, Chile, and Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Variscan Mines
