Variscan Mines Limited (ASX:VAR) ('Variscan' or 'the Company') is pleased to report further high-grade zinc intercepts from the ongoing underground diamond drilling program at the San Jose Mine, near Novales, located in Cantabria, northern Spain.
As previously stated, the underground drilling program at the San Jose Mine has been upscaled in duration and meterage. It is focused on expanding known zones of mineralization and discovering new zones with a view to supporting an upgraded Mineral Resource Estimate.
Variscan's Managing Director & CEO, Stewart Dickson said, 'This is another very pleasing set of results from our recent drilling at the San Jose Mine. The latest results show excellent intercepts and grades outside the existing Mineral Resource Estimate model. With drilling continuing, we remain on track to update the Mineral Resource Estimate by year end. I am particularly excited about drilling in the Udias Mine for the first time. We believe that a sizeable tonnage of high-grade zinc sulphide mineralization remains and has been untouched for decades. 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 re-starting production.'
The underground drilling program has the following objectives to support the eventual restart of production at the San Jose Mine: drill-test structures within and beyond the defined Mineral Resource Estimate ('MRE') area which have seen limited exploration drilling discover new zones of mineralization to increase overall size of current Mineral Resource Estimate tonnage increase the confidence level of the orebody Drilling supports structural geological interpretation and expands mineralization beyond existing Mineral Resource Estimate model
The drilling results reported here have targeted Zn-Pb structures identified from geological assessment and the structural targeting study (refer ASX announcement 19 February 2024) which has resulted in a significantly improved understanding of the controls on multi-phase Zn-Pb mineralization at the San Jose Mine. Further, these areas were previously under-explored or under-exploited. The high-grade intercepts reported hit the cross-cutting D2 structure linking Stope 200 and the La Caseta Trend.
Future drilling will test targets in the Udias Mine complex for the first time Building on the success of the current underground drilling campaign, Variscan intends to commence drilling in the Udias Mines which are linked to the San Jose Mine. This complex has not been drill-tested by Variscan yet. Variscan has complied and reported historical drill-hole data which indicates that there is excellent continuity of mineralisation extending, along strike, in a south-westerly direction over 1.4km between the San Jose Mine and the extensive Udias workings. The style of zinc mineralisation is identical to that found at the San Jose Mine as it is predominately high-grade zinc sulphides and occurs at the same elevation (i.e., no vertical offset).
Contact:
Stewart Dickson
Managing Director & CEO
Tel: +44 (0) 7799 694195
Email: stewart.dickson@variscan.com.au
Julia Maguire
Tel: +61 2 8999 3699
Email: julia@thecapitalnetwork.com.au
About Variscan Mines Limited (ASX:VAR)
Variscan Mines Limited (ASX:VAR) is a growth oriented, natural resources company focused on the acquisition, exploration and development of high-quality strategic mineral projects. The Company has compiled a portfolio of highimpact base-metal interests in Spain, Chile and Australia. Its primary focus is the development of its advanced zinc projects in Spain. The Company's name is derived from the Variscan orogeny, which was a geologic mountain building event caused by Late Paleozoic continental collision between Euramerica (Laurussia) and Gondwana to form the supercontinent of Pangea. To learn more, please visit: www.variscan.com.au
(C) 2024 Electronic News Publishing, source ENP Newswire