Minco PLC Regulatory News (MIO)

17 May 2005 07:01

Minco PLC17 May 2005 MINCO PLC Results of Geochemical Evaluation of Santa Cruz Concession: Mexico • 3 new mineralised zones discovered • Identification of mineralised structure over 5km • Excellent new target potential for diamond drill programme London 17 May 2005: AIM listed precious metals developer Minco plc (MIO)('Minco', 'the Company') today releases highlights from its ongoing geochemicalevaluation of the Santa Cruz property in the Sierra Madre Precious Metals Belt,held as part of the Minera Sisa concessions. The results have identified 3 new anomalous areas of potential gold/silvermineralisation within the concession area with geochemical values up to 50 timesthe normal expected soil content for the area. Geochemical analysis has also indicated that the mineralised structure mayextend for over 5 kilometres and includes areas of over 400 metres along strikewith indicated widths of up to 60 metres. The ongoing analysis is part of the Company's evaluation designed to provideadditional drill targets for the 7,000 metre diamond drill programme. Results todate indicate that there is a convergence of dilational fracture zones which maybe receptive to high grade epithermal type gold and silver deposition. The geochemical results, which currently only cover the central and easternportion of the concession area, will be incorporated into this year's diamonddrilling programme. The Company continues to develop vehicular access to thehistorically high grade Zambranena area where previous access was by mule overnarrow mountain tracks. Matthew Dorman, CEO speaking today said: "The identification of significantgeochemical anomalies allied with the discovery of 3 new areas of mineralisationat Minera Sisa will provide us with several new drill targets. The elementalsignatures are comparable with other significant high grade epithermal type golddeposits both in the Sierra Madre mountains and worldwide." Minco continues to advance its other silver concessions in Mexico, the mostadvanced being the Laguna Zacatecana project which is aimed at being inproduction in 2006. In addition a 9,000 metre diamond drill programme isunderway on the highly prospective Pallas Green zinc licence area in Irelandwith its joint venture partner Noranda Inc. For further information Matthew Dorman; CEO, MincoTel: +44 (0) 207 947 3237 Email: mldorman@minco.ie Roger Turner; Chairman, Minco,Tel +44 (0) 1273 495 500 E-mail: rwturner@minco.ie Laurence Read; ConduitPR+44 (0) 207 618 8707 / +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