Multiple ‘intense’ chargeable bodies have been detected from a 12-line direct current induced polarization (DCIP) survey over Variscan’s Buenahora exploration licence in Cantabria, northern Spain within the wider Novales-Udias zinc-lead Project.

Variscan (ASX:VAR) says the un-drilled chargeability anomalies are near surface, roughly 100m at depth, and carry the potential for additional targets due to the strata-bound, vertically-stacked nature of orebodies in the district.

The discovery marks a key stated objective of Variscan’s exploration plan, which is to define a regionally significant mineral resource similar in size and grade to the former producing and proximal Reocín Mine.

VAR believes these high-priority targets will yield a number of new discoveries, with the previously undetected but largest anomaly on Line 11 holding a significant footprint, potentially larger than the San Jose Mine mineral system.

These results mark another step in the progression of Variscan’s systematic approach to exploration ahead of surface drilling over the Buenahora Exploration Licence.

In combination, the geophysical, geological, geochemical and drilling data continues to indicate the potential for multiple clusters of MVT-style lead-zinc mineralisation to occur in much of the project area.

Variscan had already defined 21 exploration target zones across this licence area, however this will now be expanded and also refined ahead of future drilling.

Main focus lies on Line 11 anomaly

VAR managing director and CEO Stewart Dickson said these results from the ERT-DCIP survey suggest the potential to detect additional targets for future drilling.

“Our immediate interest is the Line 11 anomaly, which is a large and intense target.

“When aggregated with adjacent anomalies it has a scale footprint larger than the San Jose Mine – we are planning to drill several holes over this target in our forthcoming surface drilling campaign.”

The quantity and quality of targets derived from the survey add further scale potential to this highly prospective licence area, Dickson said, which was controlled by Asturiana de Zinc (Xstrata-Glencore) until 2003.

“We knew that the tenement area has extensive MVT style carbonate-hosted zinc mineralisation featuring high-grade zinc and lead deposits across a multitude of historical workings but following the survey, its prospectivity is substantially enhanced.”

A 2,000m drilling program lies ahead 

Surface drilling site preparations have kicked off as the company prepares to drill test this very promising area of the Novales-Udias project.

A 2,000m program will begin in the coming quarter, VAR says, subject to receipt of a final outstanding local municipal permit which is being finalised.




This article was developed in collaboration with Variscan Mines, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.