Variscan finds zinc massive sulphides at San Jose Mine
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Variscan’s Phase 2 underground diamond drilling program at its San Jose Mine in northern Spain has intersected new zinc massive sulphide mineralisation at the previously untested 168 Trend.
The company says this intersection extends known mineralisation at the 168 Trend, which remains open.
And infill drilling in the centre of the Los Caracoles Trend has continued to intersect mineralisation below the main gallery level.
The company has completed 28 drillholes for around 760m of its previously stated minimum amount of 2,000m due to several delays outside of its control.
But the drill program is now being ramped up, with an additional rig being deployed through another drilling contractor to test step-out targets and extensions.
Variscan Mines (ASX:VAR) managing director and CEO Stewart Dickson is pleased with very strong visual indications of high-grade sulphide mineralisation in diamond core from the current drill program.
“These are extremely encouraging and give us increased confidence that the Phase 2 underground drill campaign will build on the positive outcomes from the drill program undertaken earlier in the year,” he said.
“Notably the visual logging of the massive sulphide intersections returned from the previously untested 168 Trend are exceptionally encouraging.”
However, the company cautions that the sulphide abundance should not be considered a proxy or a substitute for laboratory analysis.
Assay results from the first batch of 19 diamond drill holes completed in the Los Caracoles and 168 Trends are pending.
Variscan is commencing drill-testing of step-out mineral trends and extensions which are found in small near-surface workings identified in Q3 2021.
This step-out drilling will run simultaneously with the underground drilling in the Main Zone of the San Jose Mine.
“Meanwhile the ongoing underground drill program is ramping up with a further drill rig being deployed through an additional drilling contractor tasked with testing step-out targets and extensions,” Dickson said.
“This drilling will specifically test a number of small mine workings that were discovered recently, and they present another opportunity to increase the size and scale of mineralisation.”
The company will also be advancing a geophysical survey of surface drill targets over the Buenahora licence area, and securing pending municipal approvals to undertake surface drilling covering the Buenahora licence area.
This article was developed in collaboration with Variscan Mines Limited, 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.