Minco encounters elevated zinc-lead values in Northern Pennines

AIM-listed Minco has reported that the first phase of exploration drilling at its Northern Pennines zinc-lead project in northern England has encountered elevated zinc-lead values over broad intervals in all four drill holes completed in the programme to date.

By MoneyWeek

published 24 May 2013

in Features

The group said that a total of 2,221 metres of drilling was completed in four exploration drill holes by Irish Drilling under contract with Minco Mining, a wholly-owned UK subsidiary of Minco.

Progress of the drilling was considerably slower than originally anticipated due primarily to severe winter weather, poor ground conditions and cold nights below freezing, the group said but added that "productivity should improve during the summer months".

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Widespread, generally low grade, zinc-lead-pyrite mineralization was consistently encountered in all four holes at a vertical depth of approximately 400 metres below surface, in close proximity to and apparently associated with geological units both above and below the Whin Sill intrusive.

John Kearney, Chief Executive Officer of Minco, said: "We are very encouraged that our first four holes in the Pennines all intersected widespread, albeit low grade, mineralisation. The two intersections of 12.2% zinc and 11.3% zinc in the third hole were particularly encouraging and demonstrate that economic grade mineralization can exist at the target depth of 350 to 400 metres below surface."