Minco PLC Share News (MIO)

Minco said on Thursday that it has intersected widespread ore mineralisation at its Buchans project in Canada following a 2,200 metre exploration drilling programme.The programme tested several mineralised stratigraphic horizons to depths of less than 300 metres, with all holes located immediately south of Minco's undeveloped Lundberg deposit and approximately 250m south of the former lucky Strike mine, the company said.The drilling programme was undertaken primarily to assess the potential for discovery of new high-grade massive sulphide.Drilling intersected widespread ore clast mineralisation within a deeper stratigraphic horizon known as the 'Ore Clast' horizon, below the Lucky Strike mine horizon and lesser explored Engine House horizon.Minco intersected results of 0.5 metres averaging 13.32% combined base metals of 1.8% copper, 5.2% lead and 6.32% zinc, along with 53.3g of silver and 0.18g of gold per tonne of ore.Warren McLeod, president of Minco's wholly owned subsidiary Buchans Minerals Corporation, said: "Given the potentially high-grade character and widespread nature of Ore Clast horizon mineralisation, Minco believes that horizon may hold significant potential for discovery of new ore bodies composed of breccia or transported ores similar to those historically mined at Buchans."At 13:08, Minco shares were down 4.1% at 2.11p.