- Variscan Mines is continuing to gather an understanding of its Spanish project
- Regional soil geochemistry has identified multiple zinc anomalies both across and next to historical zinc appearances
- There now exists the potential for soil sampling to be extended to highlight new zones of mineralisation
- Variscan’s share price is steady today with shares trading for 0.2 cents apiece
Variscan Mines is continuing to gather an understanding of the Novales-Udias project located in Cantabria, northern Spain.
The Novales-Udias Project is located in the Basque-Cantabrian Basin, 30 kilometres southwest from the regional capital, Santander.
The project is centred around the former producing Novales underground mine with a large surrounding are of exploration opportunities.
This includes zinc soil anomalies over two kilometres long, close to one kilometre wide and up to 17 per cent zinc.
“This work highlights the multiple, large geochemical anomalies identified at surface across the tenement area,” CEO Stewart Dickson said.
“In turn, this illustrates the potential scale of the opportunity in an area with a proved history of mining,” he added.
In July 2019, Variscan announced it had agreed to purchase two advanced zinc projects in Spain which include granted mining tenements located in established mining areas.
Variscan has now obtained access to the data and found that soil sampling has been an effective technique in highlighting anomalous zinc-lead areas.
Key findings include a high dispersal of zinc and lead over significant areas and a strong relationship between the soil geochemistry and the underlying dolomite (carbonate mineral).
Variscan will now use the results to plan for the next stage of development at the Novales-Udias Project.
With an extensive area of highly prospective exploration opportunities, the interpretation of this work will enable Variscan to advance the project quickly following shareholder approval.
In the meantime, this validation of historic geochemistry data represents the successful first stage of positioning Variscan to deliver the significant potential of the project.
Variscan’s share price is steady today with shares trading for 0.2 cents apiece in a $3.11 million market cap.