Minco PLC Regulatory News (MIO)

12 Apr 2005 13:50

Minco PLC12 April 2005 Minco plc Drilling Commences at Pallas Green Zinc Project, Co. Limerick, Ireland. London 12 April 2005: Aim listed Minco plc (MIO) ("Minco" or "the Company") inconjunction with joint venture partner, Noranda Inc. , has started the 2005drill programme on the Pallas Green property in Co. Limerick. The partners planto drill up to 9,000 metres in three phases during the course of 2005. NorandaInc. of Toronto, Canada is a leading international mining company and one of theworld's largest producers of zinc. The initial phase comprising 5 holes for a total of 2,000 metres, began on 7April 2005, and is designed to further explore zinc and massive sulphidemineralisation previously identified in the area around Caherconlish. The targetis mineralisation of Lisheen/Silvermines-type located to the north of theBallyneety Fault within the basal part of the Waulsortian reef limestones. It isestimated that individual hole depths will range from 250m to 400m. The area under investigation lies at the western end of a 4.5 km long zone ofpreviously outlined massive pyrite mineralisation. In the Caherconlish area,significant zinc and lead mineralisation has been located in association withthese massive sulphides. This mineralisation appears identical to the knownmineralisation immediately adjacent to both the Lisheen and Silvermines oredeposits. Minco considers the Caherconlish area as highly prospective and it remains themain focus of its work in Ireland for 2005. However, additional quality targetsremain untested elsewhere on the Pallas Green property, in particular, the areabetween Killuragh and Grange West. The Pallas Green property covers nine contiguous prospecting licences almostexclusively located in County Limerick. The property is centred on awest-northwest striking trend of alteration, the Limerick Trend, consideredcomparable to the Lisheen Trend that hosts the Lisheen and Galmoy orebodies.Pervasive sulphide mineralisation has been discovered along the Limerick Trendby the Minco-Noranda joint venture. Commenting on the start of the drill programme, Minco's CEO, Matthew Dormansaid: "We are delighted that our partner Noranda intends to focus a major efforton the Pallas Green property this year. The reef limestones of the LimerickTrend appear to be the most mineralised of any in Ireland and hold greatpotential for a major zinc discovery ." For further information Terence McKillenTel: (+1) 416 362 8243 E-mail: tnmckillen@sympatico.ca Matthew Dorman; CEO, MincoTel: +44 (0) 207 947 3237Email: mldorman@minco.ie Roger Turner; Chairman, Minco,Tel +44 (0) 1273 495 500 E-mail: rwturner@minco.ie Laurence Read; ConduitPR+44 (0) 207 936 9095 / +44 (0) 7979 955 923 E-mail: Laurence@conduitpr.com MINCO is a precious metals development and exploration company traded on the AIMmarket in London. Ticker symbol (MIO), www.minco.ie This information is provided by RNS The company news service from the London Stock Exchange