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Zinc of Ireland NL
Summary
| Project: | Kildare | |
|---|---|---|
| Deposit: | Shamrock | |
| Location: | Ireland | |
| Commodities: | Zinc-Lead | |
| Date: | 12/12/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-12-2016: Zinc of Ireland NL announces an Exploration/Drilling Update report for its Shamrock deposit at the Kildare project. Drilling results incl. 36.5m @ 4.05% Zn, 0.47% Pb from 4.50m. European base metals explorer Zinc of Ireland NL (ASX: ZMI – “ZMI | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Benjamin Sharp (Internal) | |
| ABSTRACT: | European base metals explorer Zinc of Ireland NL (ASX: ZMI – “ZMI” or “the Company”) is pleased to advise that it has received further highly encouraging results from the second batch of assays returned from recent diamond drilling at its 100%-owned Kildare MVT Zinc Project in Ireland. The latest results from the McGregor Prospect include multiple intercepts of thick, high-grade zinc mineralisation across multiple stratigraphic levels. Together with the results reported recently from the Shamrock Prospect (ASX Announcement, 31 October), the drilling has clearly demonstrated the project’s potential to host extensive high-grade MVT zinc-lead mineralisation. With zinc prices recently hitting nine year highs and spot prices almost doubling in the past year the market outlook remains extremely strong in the wake of recent mine closures. The Company’s Irish zinc portfolio, and the Kildare Project in particular, present an outstanding opportunity for ZMI to participate in this emerging market opportunity. Given its strategic location just 40km from Dublin (see Figure 1) in a region that hosts several world-class zinc mines including Vedanta’s Lisheen mine (which ceased production in 2015 after 17 years of production), the Kildare Project is rapidly emerging as a priority focus for ZMI. The Kildare District is host to numerous Mississippi Valley Type (MVT) zinc-rich breccias, with the favourable “Waulsortian Limestone” host rock forming a bed across the district. ZMI’s Kildare Project contains multiple known zinc-lead prospects and its tenements are surrounded by exploration ground held by major base metal companies including Teck, Boliden and Vedanta (Figure 2). | |
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