Minco PLC Regulatory News (MIO)

26 Feb 2007 07:00

Minco PLC26 February 2007 Exploration activities at Bilbao Project intersect high grade silver values London, 26TH February 2007 - Minco plc (MIO), the AIM quoted precious and basemetals exploration and development company is pleased to announce furtherresults from exploration activities on it's Bilbao Project in Mexico. While drilling hole X-26 on the Bilbao Project, one of the final holes in thecurrent phase of step out drilling to determine the lateral extent of the zinc/lead/silver mineralization, a zone of high grade silver mineralization wasintersected with an average grade of 847.5 grams per tonne (27.3 ounces pertonne) with up to 2.44 kilograms per tonne silver over 1.0 metre (78.5 ouncesper tonne silver). It is believed that this mineralisation is not related to themain sulphide deposit. Commenting on the latest drill results from Bilbao, Minco's Director ofExploration & Business Development Terence McKillen said, "We are very excited to have encountered extremely high silver grades on theBilbao property. Many of the veins that have been exploited historically onadjacent properties encountered bonanza grades of silver but this is the firsthigh grade silver intersections at Bilbao. We plan to follow up this additionalstyle of mineralisation in the 2007 exploration program." Two High Grade Silver Veins at the Bilbao Project Hole X-26 intersected two high grade silver veins. The first intersection of 528grams per tonne silver over 1.0 metre from 361.0 to 362.0 metres depth occurs atthe contact between the La Blanca granodiorite and the limestone sequence belowthe Bilbao sulphide mineralisation. The second intersection comprises a 6.0 metre zone wholly within thegranodiorite from 381.0 to 387.0 metres depth which averages 847.5 grams pertonne silver (27.3 ounces per tonne) but which also includes internal sectionsof 2.0 metre width averaging 1,925 grams per tonne silver (61.9 ounces pertonne) and 1.0 metre width at 2,440 grams per tonne silver (78.5 ounces pertonne). The silver mineralisation occurs in association with steeply dipping quartzveins and are accompanied by minor amounts of galena and sphalerite. The veinsappears to be at a high angle of intersection to the vertical drill holes andthe true thickness of the veins will be much less than the lengths of the drillhole intersections. Hole# From To Sample# Ag g/t Au g/t Pb% Zn% Cu% X26 361.00 362.00 5722 528 0.02 0.08 0.17 0.01 X26 380.00 381.00 5741