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Highlights:
- Variscan Mines Limited (ASX:VAR) announced a high-grade zinc assay outcome from surface diamond drilling on Thursday.
- The intercepts in the hole SB-18 are believed to reflect true thickness, taking place at very shallow depths of 36.40 to 58.40 metres.
- The company is laying emphasis on the San Jose mine, which is anticipated to be concluded by the close of CY2023.
Variscan Mines Limited (ASX:VAR), an ASX-listed resources company, saw its shares jump 20% at 11:44 am AEDT on Thursday, 2 March 2023, after it announced a high-grade zinc assay outcome.
The results came out from a surface diamond drilling campaign comprising three holes in the Cantabria, northern Spain-based San Jose mining permit. Located approximately 1,200 metres, these step-out holes are along the northeast strike from the primary zone of the underground San Jose mine stopes.
Let’s find out more about the assay results.
San Jose licence surface drilling outcomes
The hole SB-18 intersected more than 22 metres @8.16% zinc and 0.23% lead. Owing to the flat-lying, mainly stratiform character of the mineralised lenses, the intercepts in the hole SB-18 are believed to reflect more or less true thickness, taking place at very shallow depths at 36.40 to 58.40 metres.
The other hole SB-19B was intersected 6 metres @16.02% zinc and 0.71% lead. The last hole SB-19B was intersected 9 metres @5.45% zinc and 0.07% of lead.
These assay results are extraordinary out of the historic surface drilling carried out in the broader area. It confirmed the substantial strike potential of the San Jose mineralised system.
The mineralisation style during intersection looks akin to that seen at the San Jose mine, which is relatively narrow though extended zones with a sizeable vertical extent. It was demonstrated through the point that the SB-19 hole, towards North-East, skipped the mineral lenses, inferred to trend north-south direction, which is the same way as those occurring at the San Jose mine.
The road ahead & H1 workplan
Laying emphasis on the San Jose mine, the company anticipates it to be concluded by the close of CY2023. Variscan Mines is now moving ahead with various activities as given below:
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as of 02/03/2023, 01:36:04 PM AEDT
