Minco PLC Regulatory News (MIO)

6 Jul 2007 07:00

Minco PLC06 July 2007 MINCO PLC DRILLING CONTINUES TO EXPAND AREA OF HIGH GRADE ZINC AT PALLAS GREEN London, 6 July, 2007 - Minco plc (MIO), the London AIM quoted precious and basemetals exploration and development company announces the results of recentdrilling at the Tobermalug prospect which forms part of the Pallas Green jointventure with Xstrata Zinc in Ireland (Minco 23.6%). Highlights • Step-out drilling continues to extend sulphide mineralization at Tobermalug to the south, southwest and east of previously reported intersections. • Significant grades and widths have been intersected in drill holes 636-58, located 100m east of the previously reported intersection in hole 636-49, and in holes 636-57 and 636-59, respectively 200m south and 350m southwest of the previously reported intersection in hole 636-55. • The sulphide mineralization at Tobermalug has now been traced over 1.25 kilometres, north-south, and remains open to the east and south. • Five drill rigs continue to operate in the vicinity of the Tobermalug prospect. Assay results for drill holes 636-56, 636-57, 636-58 and 636-59 are summarizedbelow: Hole Number From To Intersection Zinc Lead Metres Metres Metres % % 636-57 (55degrees) 413.15 417.60 4.45 4.93 0.24and 435.10 459.40 24.30 7.13 0.47Included within 447.40 450.75 3.35 15.81 1.25 636-58 (75degrees) 363.40 366.60 3.20 9.67 3.57and 363.40 379.55 16.15 4.99 0.99Included within 377.40 379.55 2.15 10.55 1.15 636-56 (70degrees) 380.95 383.8 2.85 2.99 0.25 Drilling continues to confirm the Company's belief that potential remains forthe discovery of a significant body of high grade zinc mineralization atTobermalug. Five drills are operating at Tobermalug: • Hole 636-62 is in progress to intersect the target horizon 100m to the east of 636-55. • Hole 636-64 is in progress to intersect the target horizon 100m to the southeast of 636-59, • Hole 636-60 is in progress to intersect the target horizon 350m to the east of 636-57. • Hole 636-65 is in progress to intersect the target horizon 700m to the southeast of holes 636-57 and 59. • Hole 636-63 is in progress to intersect the target horizon one kilometer to the east of 636-49. In addition, drill holes in the vicinity of the Caherconlish South and SrahaneWest prospects are planned for the current programme. These are, respectively,2.0 kilometers to the west-southwest and 4.5 kilometers to the west-northwest ofTobermalug. A recently completed regional drill hole, 2530-3, sited within the Pallas GreenAlteration Trend 5 kilometres east of Tobermalug, has intersected a thinned reefsuccession within the basal 140m of the reef limestone accompanied bydevelopment of a thick reef-equivalent facies within the upper part of the reefsuccession and extensive black matrix breccias, similar to those hosting thezinc-lead mineralization at Tobermalug. Follow-up drilling in this area isrequired. This new drill intersection supports the Company's belief in thepotential of the large unexplored areas within the 25 kilometre length of thePallas Green alteration trend. Exploration Director's Comment Commenting on the announcement, Terence McKillen, Director of Exploration andBusiness Development said: "Ongoing drill results have significantly expandedthe area of known mineralisation at Tobermalug. Step-out drilling to the south,east and southeast is progressing to further explore this large body of sulphidemineralization. We remain very excited as to the potential of this area, andindeed, the whole Pallas Green exploration block. Drilling is continuing and wewill post the assay results as they are received." 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 an 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 8155Terence McKillen: Director of Exploration & Business Development +1 416 362 6686Simon Beardsmore: Commercial Manager +44 (0)20 7397 8159Chris Rollason: (UK NOMAD) Collins Stewart +44 (0)20 7523 8350Nick 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