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3 Years : From Dec 2010 to Dec 2013
Minco PLC (MIO.LN) said Friday that it has been informed by Xstrata Zinc that Xstrata's preliminary assessment indicates that the Pallas Green Zinc-Lead Project in Co. Limerick, Ireland, is economic at its current stage.
-Xstrata Zinc has proposed a EUR13 million exploration and development program for 2011.
-The proposed budget comprises continued definition and exploration drilling coupled with an initial Pre-feasibility Study.
-The Pre-Feasibility Study and related costs are budgeted at about EUR3 million, while the proposed EUR10 million drilling program is split about two thirds infill definition drilling and one third exploration drilling.
-Planned drilling is about 100,000 meters in about 230 holes.
-Minco holds a 23.6% participating interest, in the Pallas Green Zinc-Lead Project
-Shares closed Thursday at GBP0.06, valuing the company at GBP17.08 million.
-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; firstname.lastname@example.org