* Additional positive zinc and lead drill results
* Possibility of two zinc deposits
LONDON: 16 December, 2005: LSE AIM quoted silver and base metals developer Minco
plc (MIO) is pleased to announce further positive drilling results from on going
drilling at Pallas Green. The project is a joint venture between Minco (23.6%)
and Falconbridge (76.4%).
Commenting on the drill results, Terence McKillen, Director of Exploration &
Business Development said, "These are very positive drilling results. The two
additional drilling results outlined below are from discoveries over 2km apart.
This increases the possibility of two separate zinc deposits of economic
potential. Both areas require more drilling. This will be done in 2006 with a
very aggressive follow-up programme of at least 20 drill holes using three or
four rigs."
1. Caherconlish
Hole MN-2529-8 has encountered disseminated base metal mineralisation in close
proximity to the east-northeast trending Ballyneaty Fault. This is a step-out
hole located 100m to the southeast of the original discovery hole (MN-2529-4) at
Caherconlish where three separate zones of mineralisation, including a 4.4m
interval, have been encountered. The hole confirms continuity of mineralisation
over an area of approximately 250mx200m, including the presence of enriched
silver values (up to approx. 0.5 ounces/ton). The mineralised target area
remains open to the north, east and west, the southern extension being
potentially limited by the Ballyneaty Fault. A major offset of this structure
occurs along a northwest striking fault immediately west of the Caherconlish
prospect and it is similarly offset east of the Tobermalug area.
A similar northwest trending structure plays a role in localisation of
mineralisation at the Lisheen and Galmoy mines. The main G Zone at Silvermines
was also localised by a northwest structure between offset sections of the main
northeast trending Silvermines Fault, a setting similar to that present in the
Caherconlish area.
Tobermalug is 2.4km northeast of the Caherconlish. Hole MN-636-22 intersected
three distinct higher grade intervals within the altered/mineralised zone. This
is a step-out hole located approximately 100m to the east of hole MN-636-20 and
400m south of discovery hole MN-636-10.
The results confirm mineralisation at Tobermalug in two zones north of the
contact between the reef limestone and the Lower Volcanics, each over a surface
area of approximately 200mx200m. Additional drilling will be necessary to
evaluate whether the two zones are contiguous. The targets remain essentially
open in all directions but may be limited to the south by the Balyneaty Fault.
During the winter months, two drilling rigs will continue exploration in areas
with good access. This will increase to three or four rigs in early Spring
2006. The preliminary budget for the 2006 drilling programme is Euro1 million.
About Pallas Green
The project comprises nine prospecting licences located in northeast Co.
Limerick and south Co. Tipperary. Drilling is currently being concentrated in
three areas over a strike length of 12 kilometres within the Pallas Green
Alteration Trend.
For further information
Please refer to Minco's website at for a location map of
drill holes, or contact:
Roger Turner; Chairman & CEO, Minco
Tel +44 (0) 1273 495 500 E-mail: rwturner@minco.ie
Terence McKillen; Director of Exploration & Business Development, Minco
+1 416 362 8243 or 416.362.6686 E-mail: tnmckillen@minco.ie
Alex Buck and Nick Bias; BuckBias
+44 (0) 7932 740 452/ +44 (0) 7887 920 530
MINCO Plc is a silver and base metals development company traded on the AIM
market in London. Ticker symbol "MIO".
This information is provided by RNS
The company news service from the London Stock Exchange
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