Minco starts drilling Clementine West base metal sulphide prospect in Canada

23 January 2014 (Last Updated January 23rd, 2014 18:30)

Minco has started a 2014 winter exploration drilling programme on the Clementine West base metal sulphide prospect at Buchansin in Central Newfoundland, Canada.

Drill

Minco has started a 2014 winter exploration drilling programme on the Clementine West base metal sulphide prospect at Buchansin in Central Newfoundland, Canada.

Clementine West is situated 6km west of the former Buchans mines, where the American Smelting and Refining Company mined 16.2 million tonnes from the insitu massive sulphide and transported breccia sulphide ores.

Between 1928 and 1984 the company mind an average of 14.51% of zinc, 1.33% of copper, 7.56% of lead, 126g per tonne of silver and 1.37g per tonne of gold.

The 2014 programme is expected to take between four and six weeks to complete, and will include 2,200m of drilling in four to five drill holes.

It is also designed to test a large zone of stringer-stockwork mineralisation to depths of 300m or more.

Minco said it believes that the Clementine West area is highly prospective for the discovery of high-grade Buchans-style massive sulphides.

The company has identified various priority target areas down dip of previous drilling, where mineralisation remains open and is expected to lead to the discovery of new high-grade massive sulphide deposits.

The Buchans project is one of Minco's several advanced volcanogenic massive sulphide base metal projects situated within the Buchans area of Central Newfoundland.

Minco has interests in several base metal deposits, including its Lundberg deposit, Daniels Pond deposit, the 75%-owned Bobbys Pond deposit and the 49%-owned Tulks Hill deposit.

The company said the Lundberg deposit is a large low-grade deposit, which is being evaluated for open pit mine development. Minco upgraded the Lundberg resource to include a NI 43-101 compliant indicated resources, totalling 23.4 million tonnes grading at 1.41% of zinc, 0.60% of lead, 0.35% of copper, 5.31g per tonne of silver and 0.07g per tonne of gold.

It also includes inferred resources of 4.3 million tonnes grading at 1.29% of zinc, 0.54% of lead, 0.27% of copper, 4.47g per tonne of silver and 0.08g per tonne of gold, using a NSR cut-off of $15 per tonne.

Minco will work towards starting the project's pre-feasibility stage and to explore new high-value discoveries within its properties at the Buchans area of Central Newfoundland.


Image: The 2014 drilling programme is expected to take four to six weeks to complete. Photo: courtesy of FreeDigitalPhotos.net.

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