Minco PLC Regulatory News (MIO)

19 Mar 2008 07:01

Minco PLC19 March 2008 19 MARCH 2008 MINCO PLC PALLAS GREEN DRILLING CONTINUES TO EXPAND AREA OF MINERALIZATION 16.85 metres of 17.5% combined Zinc+Lead 6.30 metres of 11.16% combined Zinc+Lead Southwest and west of previously reported high grade intersection London, 19 March, 2008 - Minco plc (MIO), the London AIM quoted precious andbase metals exploration and development company is pleased to report additionalresults from ongoing drilling on the Pallas Green project, Co. Limerick - ajoint venture with Xstrata Zinc. Results are provided for holes MN-2529-027 and MN-2529-028, located respectively335 metres southwest of and 80 metres west of previously reported holeMN-2529-026 (January 31, 2008) in the southern part of the Tobermalug zinc-leadprospect. Hole MN-2529-027 Located 335 metres southwest of hole MN-2529-026, this hole has intersected twohigh grade sections. A 6.30 metre interval (from 408.9 metres to 415.2 metres)averaging 10.08% zinc and 1.08% lead and a 3.0 meter interval (from 429.8 metresto 432.8 metres) averaging 11.76% zinc and 0.64% lead. These intersections areat the top and bottom of a 23.9 metres interval of mineralisation (408.9 metresto 432.8 metres) averaging 5.05% zinc and 0.38% lead. Hole MN-2529-028 Located 80 metres to the west of hole MN-2529-026 and approximately 280 metresnortheast of hole MN-2529-027 has intersected a 16.85 metre interval (380.3metres to 397.15 metres) averaging 14.93% zinc and 2.57% lead. The intervalincludes a shorter section of 9.45 metres (387.7 metres to 397.15 metres)averaging 20.28% zinc and 2.78% lead. Hole No. From (m) To (m) Interval Zn% Pb% (m) MN-2529-27 408.9 432.8 23.90 5.05 0.38 Including 408.9 415.2 6.30 10.08 1.08 including 429.8 432.8 3.00 11.76 0.64 MN-2529-28 380.3 397.15 16.85 14.93 2.57 including 387.7 397.15 9.45 20.28 2.78 Discussion Six drill rigs have operated on the project during February with a further tworigs being added in early March. The mineralized intersections in holesMN-2529-027 and MN-2529-028 open up a large area of potential at the southernend of the Tobermalug prospect in which a continuous zone of zinc-leadmineralization has been outlined over 2.7 kilometres north to south and up to0.7 kilometres in width. As previously announced, the proposed programme for 2008 will compriseapproximately 50,000 metres of diamond drilling, using up to 15 drill rigs whichwill focus on the immediate area surrounding the Tobermalug, Caherconlish Southand Srahane West prospects as well as more regional drilling in other areas ofmineralized potential. Exploration Director's Comment Commenting on the announcement, Terence McKillen, Director of Exploration andBusiness Development said: "The results of these two holes confirm the highgrade potential of portions of the Tobermalug Prospect. Ongoing drilling isfocused on short step-outs to explore this emerging area of high grademineralization while at the same time continuing with larger step-outs to thesouth where the main controlling structures are believed to be located. Fourdrills are currently active in the southern area." Qualified Person The above information has been reviewed and verified by Mr. Roger Turner,Executive Chairman of Minco, for the purposes of the Guidance Note for Mining,Oil and Gas Companies issued by the London Stock Exchange in March 2006. Mr.Turner, with 40 years of mining engineering, management and consultingexperience, 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 memberin good standing with the Institute of Materials, Minerals and Mining and a UKChartered Engineer. 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 & CEO +44 (0)20 7397 8155 Terence McKillen: Director of Exploration & Business Development +1 416 362 6686 Danesh Varma, CFO & Company Secretary +44 (0)20 7397 8154 John Frain / Fergal Meegan: (NOMAD) Davy +353 (0)1 6796363 Tom McCormack (Ireland PR) ConneXions +353 (0)1 230 3015 This information is provided by RNS The company news service from the London Stock Exchange