Minco PLC Regulatory News (MIO)

8 Aug 2005 07:00

Minco PLC08 August 2005 MINCO plc Minco plc announces preliminary zinc and lead results from drilling at its Pallas Green Project, Ireland * Drill hole intersects new mineralised system with average grade of 14.97% zincand 4.5% lead over 5.3m width * Part of 9,000 metre exploration drill programme being in JV with Noranda LONDON:8th August 2005: Minco plc ("Minco" or "the Company", Ticker: MIO) theAIM quoted precious and base metals developer, today announced that drill holeMN-2529-4 has intersected a significant zone of zinc-lead sulphidemineralisation at the Pallas Green project near Caherconlish, Co. Limerick,Ireland. The project comprises nine prospecting licences and is operated as ajoint venture between Minco and Noranda Exploration (Ireland) Limited. New Mineralised Zone The new mineralised intersection comprises a 5.3 metre wide zone of massive tosemi-massive sulphides occurring in the basal part of the Waulsortian reeflimestone. The mineralisation comprises massive to disseminated sphalerite,galena and pyrite. Preliminary assay data indicates the mineralised section hasan average grade of 14.97% zinc and 4.5% lead over a width of 5.3 metres from357.15 - 362.45 metres depth. The hole is a 300 metre step-out from drill hole MN-2529-3, drilled in May 2005,which also intersected disseminated and massive sphalerite and galenamineralisation over a width of 1.52 metres averaging 4.47% zinc and 0.98% lead.It is also 2.4 kilometres southwest of another zone of massive sulphidemineralisation discovered in drill holes MN-636-8, 10 and 13, which intersecteda complex breccia stratigraphy and a zone of zinc and lead massive sulphidemineralisation, up to 8.0 metres in thickness, the best intersection averaging6.47% zinc and 0.4% lead over 1.34 metres. Future exploration of the 9,000 metreexploration drill programme, using two diamond drills, is being focused on theCaherconlish, Castlegarde and intervening areas. The Pallas Green project also encompasses the region around Castlegarde, wheremuch of the area still remains untested by diamond drilling. The Directors ofMinco believe that the Pallas Green Alteration Trend, a zone of structural andhydrothermal complexity, which extends for over 20 kilometres betweenCastlegarde and Limerick, is analogous to the Rathdowney Trend with which boththe Lisheen and Galmoy zinc-lead deposits are associated. Matthew Dorman, CEO, commented, "The success to date of the Pallas Greendrilling programme confirms our belief that the project is one of the best zincassets in Ireland today. As much of the area still remains relativelyunexplored, a third drill rig is to be added to the exploration programmeimmediately. We believe that the Pallas Green Alteration Trend holds significantpotential for an economic zinc discovery." www.minco.ieFor further information:Matthew Dorman; CEO, MincoTel: +44 (0) 207 397 8151 Email: mldorman@minco.ie Roger Turner; Chairman, Minco,Tel +44 (0) 1273 495 500 E-mail: rwturner@minco.ie Terence McKillen; Director, Minco+1 416 362 8243 E-mail: tnmckillen@sympatico.ca Amanda Harris / Laurence Read , ConduitPR+44 (0) 207 618 8534 / +44 (0) 7900 322022 This information is provided by RNS The company news service from the London Stock Exchange