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Variscan Mines (ASX:VAR) in High Spirits on Encouraging 3D Laser Survey Results 

Summary

  • Variscan Mines Limited (ASX:VAR) has released the results of the 3D laser survey undertaken at the San Jose-Novales mine.
  • The 3D laser survey has identified in-situ high-grade zinc mineralisation beyond surveyed mine workings.
  • The survey of existing stopes has indicated clear N-S parallel elongated orientations coupled with lesser E-W oriented linking stopes.
  • The survey has also discovered multiple drilling bays and extensive access to existing stopes (ore passes and drives).
  • The geospatial information from the survey is important to plan for a possible restart of operations, saving substantial cost and time for the Company.
  • Variscan is planning to kick-start underground drilling campaign in November 2020 to test primary mineralised zones and N-S stope/structure extensions at San Jose-Novales.

ASX-listed Variscan Mines Limited (VAR) has released the results of the 3D laser survey undertaken at the San Jose-Novales mine and its integration with the significant historical drilling database. Interestingly, the 3D laser survey has identified in-situ high-grade zinc mineralisation beyond surveyed mine workings. Besides, multiple drilling target areas have been discovered from the survey.

Also, the 3D survey of stopes, workings and mine development has validated the wide lateral and vertical extent of mineralisation (present and past) within the San Jose mine.

Following the release of survey results, Variscan shares surged by 32 per cent to $0.033 on 23 November 2020. The shares last traded at $0.031 on 24 November 2020.

Conducted by 3DMSI Limited, the survey covered the major historical works areas and surpassed 2,500m, leading to a preliminary estimation of over 180,000 m3 having been extracted from the San Jose mine. The survey has generated a highly detailed 3D model of the main workings and mine development at the San Jose–Novales Mine.

Let us quickly gaze through the key findings from the 3D laser survey:

Confirmed Unmined Zinc Mineralised Intersections

The integration of the 3D underground laser survey with historical drilling database has validated that some positive historical drilling intersections remain unmined at the San Jose mine. The historical dataset includes 102 surface drillhole collars, aggregating ~18,870m and 426 underground drillhole collars, totalling ~29,902m.

Variscan informed that as the 3D survey has enabled confirmation of mined mineralisation, the geological data demonstrates where do unmined targets lie. The 3D survey has further provided certainty to these positions to provide potential drill collar and drilling direction targets.

The presence of potentially mineralised, unmined material has been detected surrounding the stopes in the centre of the San Jose mine. The Company notified that some outer zones still seem to have in-situ mineralisation, particularly in the southwestern area of the mine. Besides, some other areas have been found to have potentially mineralised zones along strike extensions.

Indicated Clear N-S Parallel Structures

The survey of existing stopes has indicated clear N-S parallel elongated orientations coupled with lesser E-W oriented linking stopes. The orientation of the present stopes endorses the geological interpretation of parallel N-S oriented mineralised structures with E-W linkages, developing future exploration plans and extensions to current mine footprint.

The northern and southern extremities of stopes and the E-W linkage structures are believed to be prospective for possible mineralised strike extensions.

Identified Multiple Drilling Bays

The 3D underground survey has also discovered multiple drilling bays and extensive access to existing stopes (ore passes and drives). Variscan highlighted that it has identified 24 potential drilling bays underground by combining the 3D mine survey, the drilling database, and the preliminary mineralised model (>1% Zn and >3% Zn).

The two priority areas (comprising five drilling bays), which are also the impending drilling targets considered to be the most prospective, are demonstrated in the below figure:

Significance of Geospatial Information

Variscan underlined that the geospatial information from the survey is important to plan a possible restart of operations, saving substantial cost and time for the Company. Besides, the Company mentioned that the geospatial information when combined with the historical dataset, has been useful for the following purposes:

All in all, the 3D laser survey has provided Variscan with the accurate detail needed for an underground drilling programme, which is targeted at evaluating repetitions and extensions of mineralisation.

Going forth, Variscan is planning a series of exploration plans to advance its flagship Novales-Udias Project, which comprise:

  • Additional analysis of historical drilling data,
  • Structural mapping, and
  • 2000m underground drilling campaign starting in November 2020 to test primary mineralised zones and N-S stope/structure extensions at San Jose-Novales.

Related Read: Variscan Reports Encouraging Exploration Results from Historical Drilling at Novales-Udias Project

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