Metminco reports increases resources at Mollacas

Mining company Metminco has reported an increase in its mineral resource at the Mollacas copper project, putting the total estimate at 34.3m tonnes containing 131,749 tonnes copper and 176,408oz gold.

The estimate for the oxide and secondary sulphide zone is 15.5m tonnes containing 79,111 tonnes copper and 63,663 ounces gold, while for the transitional and primary sulphide zone the estimate is 18.8m tonnes, containing 52,638 tonnes copper and 112,745 ounces gold.

William Howe, Managing Director said "The new resource demonstrates the quality of the Mollacas Project and provides Metminco with optionality in terms of the development of the project."

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The company added that its focus remains on advancing the development of the Copper Leach Project and so it will continue the testwork on those ore types while comprise the oxide and secondary sulphide zones in order to optimise the process design for the project.

The share price rose 2.19% to 6.11p by 10:19.

NR