Minco PLC Regulatory News (MIO)

10 Sep 2007 09:48

Minco PLC10 September 2007 Minco plc DRILLING CONTINUES TO MEET WITH SUCCESS AT TOBERMALUG, PALLAS GREEN 10 September 2007 London, 10th September 2007 - Minco plc (MIO), the London AIM quoted preciousand base metals exploration and development company announces the results ofrecent drilling at the Tobermalug prospect which forms part of the Pallas Greenjoint venture with Xstrata Zinc (23.6%:76.4%) in County Limerick, Ireland. Highlights • Significant grades and widths of zinc and lead mineralization have been intersected in holes MN-636-064 and 2529-018, including 5.25 metres grading 10.21% zinc and 1.64% lead. • MN-2529-018 extends mineralisation 570 metres to the southeast of previous drilling. • Hole MN-636-062 intersected 51.65 metres of low grade zinc-lead mineralisation within and adjacent to 43.5 metres of massive pyrite. • Five drill rigs continue to operate in the vicinity of the Tobermalug prospect. Summary of assay results for MN 636-064 and 2529-18 Hole Number (dip) From To Intersection Zinc Lead Metres Metres Metres % % MN-636-064 (60degrees) 440.35 445.60 5.25 10.21 1.64and 487.30 490.54 3.24 6.71 1.22Included within 439.54 492.45 29.36 3.46 0.51 MN-2529-018 368.10 378.90 10.80 6.62 0.50Included within 367.50 384.30 16.80 5.31 0.52 MN-636-062 (82degrees) 340.65 392.30 51.65 0.98 0.15includes 379.60 386.30 6.70 2.29 0.38and 380.50 381.75 1.25 4.37 0.89 MN-636-060 (70degrees) 566.55 577.20 10.65 1.21 0.39 With completion of drill hole MN-2529-018, continuous mineralisation has beendemonstrated over a north-south distance of two kilometres. Mineralisation,which appears to have an east-west width of at least 600 metres at the southernend of the area drilled, remains open to the south, west and southwest. Minco believes that the mineralization located to date could be peripheral tolenses of higher grade mineralization, significantly larger than thoseencountered so far. The higher grade intersections encountered to date areenclosed within an envelope of breccia hosted, lower grade mineralization whichranges between 51 metres and 10 metres in thickness. Minco believes that there remains considerable potential for the discovery ofareas of consistently thicker and higher grade mineralization adjacent to major,controlling fault structures believed present to the south and southwest of thecurrent drilling, where much of the low grade envelope could be widely replacedby higher grade mineralization. Five drills are operating at Tobermalug: • Drill hole MN-2529-019, 200m south of MN-2529-018. • Drill hole MN-636-066, 100m west of MN-636-049. • Drill hole MN-636-067, mid-way between holes MN-636-064 and MN-636-060. • Drill hole MN-636-068, 100m west of MN-636-057. • Drill hole MN-636-069, 140m southwest of hole MN-636-059. Exploration Director's Comment Commenting on the announcement, Terence McKillen, Director of Exploration andBusiness Development said: "Results of ongoing drilling at Pallas Green confirmour belief that we are on the verge of a major zinc discovery at Tobermalug. Theextent and thickness of the low grade envelope at Tobermalug demonstrates thesize and extent of the mineralising event. We have not yet found the expectedlarger tonnage and higher grade "core" mineralization which is associated withthese types of zinc deposit. Additional, systematic drilling to the south andsouthwest will be required to locate the controlling structures with which suchcore zones will be associated." Qualified Person The above information has been reviewed and verified by Mr. Roger Turner, CEOand Chairman of Minco, for the purposes of the Guidance Note for Mining, Oil andGas Companies issued by the London Stock Exchange in March 2006. Mr. Turner,with 40 years of mining engineering, management and consulting experience,graduated as a mining engineer from the Camborne School of Mines, has a M.Sc.degree in Economic Geology from Leicester University and is a member in goodstanding with the Institute of Materials, Minerals and Mining and a UK CharteredEngineer. About Minco: Minco PLC is an AIM quoted precious and base metals exploration and developmentcompany with silver projects in Mexico and zinc exploration in Ireland. For further information, www.minco.ie or contact: Roger Turner: Executive Chairman +44 (0)20 7397 8155 Terence McKillen: Director of Exploration +1 416 362 6686& Business DevelopmentDanesh Varma. Chief Financial Officer +44 (0)20 7397 8154Mark Connelly/Oliver Quarmby: +44 (0)20 7523 8350 (UK NOMAD) Collins Stewart Nick Bias: (UK IR & PR) BuckBias +44 (0)7887 920 530Tom McCormack (Ireland PR) ConneXions +353 (0)1 230 3015 This information is provided by RNS The company news service from the London Stock Exchange