Year End Results 2015
Minco Plc – Annual Report & Accounts
Dublin, 3 May 2016 – Minco Plc (AIM-“MIO”) (the Company), is pleased to announce that its Annual Report and Accounts for the year ended 31 December 2015 have been published and are being posted to shareholders. Copies of these documents are available on the Company’s website www.minco.ie and will also be available on request for one month from May 6 2016, free of charge, from the Company’s registered office at 27 Lower Hatch Street, Dublin 2, Ireland.
In his Chairman’s Letter to Shareholders, John F. Kearney Chairman & Chief Executive, said: “In 2015 Minco completed exploration drilling programs on its lead/zinc properties at Buchans, Newfoundland and at the Pennines in northern England with positive results. Minco also acquired three new prospecting licences near Moate in County Westmeath, Ireland, centered on a specific geological target identified by Minco, with potential for zinclead mineralization of Tynagh Mine type.
In Newfoundland Minco also entered into a collaboration agreement with Canadian Zinc to undertake a research programme to complete metallurgical studies on seven volcanogenic massive sulphide deposits located in central Newfoundland and to share research data on their respective deposits. The objective of the program is to evaluate the technical and economic viability of developing some combination of these deposits by utilizing a central milling facility. Results to date from this research program are
Minco also holds a 20% interest in an Irish prospecting licence in joint venture with Tara Boliden, adjacent to Boliden’s large Tara zinc lead mine at Navan, Ireland, a 26% interest in Xtierra Inc., which holds zinc, lead, silver properties in Mexico, and a 2% net smelter royalty on the Curraghinalt gold deposit in County Tyrone, Northern Ireland, currently being explored by Dalradian Gold.
BUCHANS LEAD-ZINC EXPLORATION
During 2015 Minco completed a drilling programme testing the Lucky Strike South target at the old Buchans mine site in central Newfoundland. Minco’s 2015 programme was undertaken to follow up of favourable results from drilling in 2014 and tested several mineralized stratigraphic horizons to explore for new high-grade massive sulphide deposits. All eight 2015 Minco holes intersected mineralized felsic volcanic breccia ranging from 1 to 23 metres in thickness, and containing massive sulphide and sulphide rich
lasts measuring up to 15 centimetres in diameter.
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