Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMinco PLC Regulatory News (MIO)

  • There is currently no data for MIO

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Start of Drilling at Moate

7 Sep 2016 09:00

RNS Number : 1835J
Minco PLC
07 September 2016
 

Minco plc

MOATE LEAD-ZINC EXPLORATION PROJECT, COUNTY WESTMEATH, IRELAND

● Drill Program Starting - 1400 metres planned in 6 holes

Dublin, 7 SEPTEMBER 2016 - Minco Plc (AIM - "MIO") announces the start of a first stage diamond drilling programme to explore for zinc-lead at Moate, County Westmeath, Ireland, centered on a specific geological target, identified by Minco, with potential for zinc-lead mineralization of Tynagh Mine type.

Minco has planned an initial drilling programme of six inclined drill holes for a total of 1400 metres of drilling.

Located on "Tynagh-Ballinalack Trend"

Minco's prospecting licences PLs 1228, 1229 and 3981 are located along the north-western margin of the Irish Midland Orefield on the "Tynagh-Ballinalack Trend", comparable to the "Lisheen Trend" which underlies the Lisheen and Galmoy Mines in Counties Tipperary and Kilkenny, and also comparable to the "Pallas Green Trend" which hosts the Pallas Green Deposit in Co. Limerick discovered by Minco in 2007 where Minco's interest was sold to Xstrata for US$19.4 million in 2011.

The target at Moate was developed by Minco's in-house geological team who successfully predicted the presence of the zinc-lead deposits at Pallas Green.

Comparison to Tynagh Mine Geological Setting

Minco's Moate exploration target lies mid-way between the former Tynagh Mine, located 50 kilometres to the southwest, and the similar styled Ballinalack deposit, situated 35 kilometres to the northeast. The Tynagh lead/zinc/copper/silver mine operated successfully from 1965 to 1981 producing 9,000,000 tonnes of ore, from both open pit and underground, at average grades of approximately 7% lead, 5.5% zinc, 0.5% copper and 2.6 ounces of silver per tonne.

 

 

The geology at Moate is also comparable to that at the smaller Ballinalack Zinc-Lead Deposit (5.7mt averaging 8.8% zinc and 1.1% lead) discovered by Noranda in 1970 and now being explored by Teck Resources.

Historical Exploration

The general Moate area has seen intermittent exploration over the past fifty years following discovery in 1968 of the Moyvoughly deposit (125,000 tonnes averaging 8% zinc plus lead) located immediately to the east of Minco's license areas. Exploration at Moate in the past has focused almost exclusively on the potential for Navan-type mineralization within the Moyvoughly Beds, a geological formation that is located in an equivalent stratigraphic position to the limestone beds that host the 100 million (plus +) tonne Tara Mines zinc-lead deposit at Navan Co. Meath. This past exploration work led to the identification of widespread traces of zinc-lead mineralisation in the surrounding Moate, Westmeath area.

Minco's Moate target

Minco's studies of previous drilling, however, have outlined a geological setting that Minco believes mirrors that at the former Tynagh Mine, where zinc-lead mineralization was hosted by breccias developed at the margin between the reef and off-reef limestone facies. The potential for reef hosted zinc-lead mineralization of "Tynagh-type" at Moate has never been explored.

Minco's Moate target lies 150 to 200 metres below surface in the immediate hanging wall of the major, northeast striking structural Trend, locally called the Moyvoughly Fault. This well-defined target has an estimated strike length of at least 3.5 kilometres and remains untested by any previous drilling in the area.

Minco believes that its Moate target has potential to host a significant zinc-lead deposit.

Qualified Person:

 

Terence McKillen, B.A. (MOD), M.A. (University of Dublin, Trinity College), M.Sc., (University of Leicester), a Director of Minco plc, is Minco's non-independent qualified person for the purposes of the AIM Guidance Note on Mining, Oil and Gas Companies and has reviewed the information contained in this News Release.

 

 

 

ABOUT MINCO PLC

 

Minco Plc, incorporated in the Republic of Ireland and listed on the AIM Market of the London Stock Exchange ("MIO"), is an exploration and development company currently engaged in zinc-lead exploration in Canada, the United Kingdom and Ireland, and is also evaluating its Woodstock manganese project in New Brunswick, Canada.

Minco also holds an approximate 26% shareholding in Xtierra Inc, (TSXV- "XAG"), which holds mineral properties in Mexico, and a 2% NSR royalty on the Curraghinalt gold property in Northern Ireland, currently being explored by Dalradian Resources Inc. (TSX-"DNA").

 

For further information contact:

 

Peter Tyler: Chief Geologist - Ireland and UK +44 (0) 78 5432 3056

Peter McParland: Director - Ireland +353 (0) 46 907 3709

John F. Kearney: Chairman +1 416 362 6686

Danesh Varma: CFO & Company Secretary +44 (0) 8452 606 034

Warren MacLeod: Director, President Buchans Minerals +1 709 725 0555

John Frain: Davy (NOMAD) +353 (0)1 6796363

Saif Janjua: (Corporate Advisor) (Broker, Beaufort Securities) +44 (0) 20 7382 8415

 

Website: www.mincoplc.com

 

 

 

 

Cautionary Statement - Forward-Looking Information

 

This news release contains certain forward-looking information, including, among other things, the expected exploration of mineral properties. This forward looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, the timing of exploration, development and mining activities, the size and quality of mineral resources, progress in development of mineral properties, demand and market outlook for metals, future metal prices and treatment and refining charges, future trends for the company, and the financial results of the company. Mineral exploration and development is a speculative business including, among other risks, the failure to discover mineral deposits but also from finding mineral deposits that, though present, are insufficient in quantity and quality to return a profit from development and production. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLDDLBBQKFEBBE
Date   Source Headline
20th Jan 20109:18 amRNSXtierra Financing Proposal
15th Jan 20103:22 pmRNSIssue of Equity
15th Jan 20107:00 amRNSXtierra Operational Update
21st Dec 20092:52 pmRNSPallas Green Results
19th Nov 200910:18 amRNSXtierra - Laguna Option
4th Nov 200910:16 amRNSXtierra Bilbao Update
27th Oct 200910:12 amRNSXtierra Option
15th Oct 20099:24 amRNSPallas Green Drill Results
30th Sep 20095:33 pmRNSInterim Results
26th Aug 200910:31 amRNSTobermalug Metallurgical Report
4th Aug 20093:08 pmRNSTobermalug resource
15th Jul 20099:54 amRNSDrilling Update: Pallas Green
9th Jul 20099:51 amRNSXtierra Bilbao Feasibility
30th Jun 20093:19 pmRNSAnnual Report and Accounts
18th May 20097:00 amRNSDrilling Report
8th May 20093:20 pmRNSIssue of Equity
7th May 200911:11 amRNSXtierra Files 2008 Financial Statements
11th Mar 20097:00 amRNSDrilling Report
16th Feb 200911:12 amRNSDrilling Report
6th Jan 20097:00 amRNSDrilling Report
10th Dec 20088:51 amRNSBilbao Update
28th Nov 200811:52 amRNSPlacing
6th Nov 20089:03 amRNSDrilling at Pallas Green
29th Sep 20081:49 pmRNSDrilling Update
26th Sep 20081:18 pmRNSShareholder Meeting Statement
11th Sep 20087:00 amRNSInterim Results
3rd Sep 20089:48 amRNSBilbao Silver-Lead-Zinc Proje
27th Aug 200811:48 amRNSOrca Minerals' Canadian Listi
15th Aug 20082:42 pmRNSOrca Minerals Canadian Listin
7th Aug 200811:33 amRNSNotification of Major Interes
5th Aug 20087:00 amRNSBoard Appointments
10th Jul 200810:25 amRNSDrilling Update
30th Jun 20085:31 pmRNSFinal Results
30th Jun 20085:13 pmRNSAnnual Report and Accounts
16th Jun 20082:12 pmRNSListing Application of Orca M
24th Apr 20087:00 amRNSFinancing Closed
1st Apr 200811:48 amRNSOrca Financing
19th Mar 20087:01 amRNSDrilling Report
6th Feb 20087:01 amRNSDrilling Update
31st Jan 20087:01 amRNSDrilling Update
22nd Jan 20087:00 amRNSPallas Green Budget 2008
14th Jan 20087:01 amRNSDrilling Report
8th Jan 20083:34 pmRNSFinancing Update
14th Dec 20077:00 amRNSIssue of Options
5th Dec 200711:10 amRNSNominated Adviser & Broker
19th Nov 20077:01 amRNSFINAL AGREEMENT
28th Sep 20077:03 amRNSInterim Results
19th Sep 20074:20 pmRNSMexican Projects Financing
17th Sep 20075:07 pmRNSAGM Statement
10th Sep 20079:48 amRNSDrilling Report

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.