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Variscan Mines (ASX:VAR) - - The Market Herald
Workers at the Novales-Udias Project. Source: Variscan
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  • Assays from Variscan Mines' (VAR) Novales-Udias Project in Spain yield potential high-grade zinc mineralisation warranting follow up drilling
  • The explorer says the results extend the Los Caracoles Trend and have picked up high grade mineralisation in the south-west zone
  • Notable results include 13.2 metres at 5.54 per cent zinc including four metres at 11.99 per cent zinc and three metres at 9.1 per cent zinc
  • Follow up drilling is expected later this month
  • Variscan Mines shares closed today's session down 1.54 per cent to trade at 6.4 cents

Assays from Variscan Mines' (VAR) Novales-Udias Project in Spain yield potential high-grade zinc mineralisation warranting a near-term follow up drill campaign.

The explorer said the latest results from an underground drill program at the San Jose Mine had extended the Los Caracoles Trend and discovered high grade mineralisation in the south-west zone.

Notable results from the south-west zone include 13.2 metres at 5.54 per cent zinc including four metres at 11.99 per cent zinc and 11 metres at 3.23 per cent zinc.

According to VAR, the zone remains open to the south and hosts "significant potential" for further extensions.

Meanwhile drilling at the Los Caracoles Trend extended on-trend strike by 180 metres, returning a peak result of three metres at 9.1 per cent zinc.

Variscan said the finds warranted follow up drilling, which is set to be undertaken this month.

Variscan's Managing Director and Chief Executive Officer Stewart Dickson said the discoveries strongly suggested considerable scale and tonnage potential.

"They are particularly encouraging as they have discovered high-grade mineralised lenses above and below the main gallery level with the deposit remaining open to the south," he said.

"We will be following up these exciting results with our next drill campaign which is scheduled to start this month."

Variscan Mines shares closed today's session down 1.54 per cent to trade at 6.4 cents.

VAR by the numbers
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