Variscan Mines Ltd (ASX:VAR) has picked up its best ever assay result at the San Jose zinc mine in Spain – that is, 15.3 metres at 17.42% zinc (Zn) and 4.40% lead (Pb).
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These results, together with additional high-grade mineralisation, suggest the presence of a feeder zone, the company said in a positive release today.
Underground drilling at La Caseta – part of San Jose’s Central Zone – in 2024’s fourth quarter picked up other high-grade assays: 14.30 metres at 8.09% Zn, 1.28% Pb in one; 15.25 metres at 6.10% Zn, 0.46% Pb in another.
This work was to infill high-grade mineralisation close to zones connected to measured and indicated resources, pin down a feeder system for San Jose, and eventually delineate an exploration target for further work.
All have been achieved; managing director and CEO Stewart Dickson said this boded well for San Jose’s restart, as well as the Novales-Udias project broadly.
“In recent times we have drilled some excellent holes at the San Jose Mine. On a grade-thickness basis, drillhole NDDT059 (15.3m @ 17.42% Zn, 4.40%Pb) is the best yet!” Mr Dickson wrote excitedly on Tuesday.
“This is very exciting. Firstly, it infills an area adjacent to defined measured and indicated mineral resources in the centre of the San Jose Mine which will be important for future MRE updates.
“These great drilling results also provide more strong comfort about the outlook for the re-start of mining at San Jose. The La Caseta area of the Central Zone is expected to be a key part of the early stage mining areas.”
Variscan shares were last trading at 0.8 cents per share at 2.18pm today.
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