Variscan (ASX:VAR) finds high-grade zinc below San Jose’s Catedral

Variscan Mines has identified a thick new lens of high-grade zinc below La Catedral stope in the San Jose Mine in Cantabria, northern Spain.

The highest zinc mineralisation in the San Jose Mine assays featured 3.8 metres grading 24.58% Zn and 3.13% lead.

Among the best intersections was a 21.85-metre assay featuring 8.5% Zn and 0.38% Pb, including 18.05m at 10.22% Zn and 0.46% Pb.

Another good intersection stretched 23.35m and had 7.09% Zn and 1.72% Pb.

The company told the market its drill results had successfully tested prospective zones and expanded its zones of mineralisation.

Variscan Managing Director and CEO Stewart Dickson said the company’s strong assay results showed the presence of thick, high-grade zinc-rich lenses.

“Our drilling continues to prove the potential for more high-grade discoveries beyond the historical mine-workings. Our fresh yet methodical approach is yielding excellent results.”

Dickson confirmed the drilling campaign would continue until the end of the year or beyond.

“In-fill and step-out drilling will seek to test new prospective zones and expand identified zones of mineralisation,” he said.

“Our drilling continues to support our overarching objective to assess the re-start potential of the San Jose Mine.”

Variscan hopes to clear a path for the development of San Jose Mine and the company’s wider Novales-Udias project.

This quarter the company plans to drill underground, undertake metallurgical test work and look at structural geology of the site as it works mine restart study expected until January.

In February it plans to implement key recommendations of the study, through to June.

Variscan expects to restart exploration in a January-May campaign that includes underground drilling and surface drilling along strike at San Jose.

The company hopes to upgrade its resource estimate again between May and July.