Variscan Mines (ASX:VAR) strikes big in Spain: High-grade zinc and a probable feeder zone
March 4, 2025Variscan Mines (ASX:VAR) has delivered its best-ever drill results from the San Jose Mine, revealing a probable high-grade feeder zone that could be a game-changer for the Spanish zinc operation.
With drilling at La Caseta returning exceptional intercepts, including a standout 15.3m @ 17.42% Zn, 4.40% Pb (NDDT059), the company is demonstrating the potential for a major resource upgrade.
Drilling Delivers Best-Ever Results
Variscan’s underground drilling campaign at the San Jose Mine, part of the broader Novales-Udias project, has identified a high-grade corridor that suggests a significant mineralising system at play. Among the latest results:
- NDDT059: 15.3m @ 17.42% Zn, 4.40% Pb
- NDDT058: 14.3m @ 8.09% Zn, 1.28% Pb
- NDDT060: 15.25m @ 6.10% Zn, 0.46% Pb
On a width x grade basis, hole NDDT059 is the best intercept ever recorded by Variscan at the Novales-Udias project, reinforcing the project’s emerging world-class credentials.
A Feeder Zone in the Making?
Geological mapping and structural analysis suggest that the San Jose Mine hosts vertically oriented feeder zones channelling metal-rich hydrothermal fluids.
These structures, which act as conduits for mineralisation, have been theorised for years, but drilling at La Caseta is now delivering concrete evidence.
“The identification of a probable feeder system at San Jose is a crucial breakthrough,” said Variscan Mines Managing Director, Stewart Dickson. “This not only validates our exploration model but also provides a clear target for further resource growth.”
Supporting this thesis, drill core samples from the feeder zone show abundant iron sulphides, marcasite, and galena, with anomalous trace elements such as 150ppm nickel, a strong indicator of higher-temperature ore deposition.
Beyond Exploration: Mining Restart on the Horizon
With some of the most impressive zinc grades seen outside of major operations like Glencore’s Reocin deposit (9km away), Variscan is accelerating its Mine Re-Start Study.
The company has earmarked key milestones for 2025, including geotechnical and metallurgical assessments.
“This discovery strengthens our confidence in the restart potential of San Jose,” Dickson added. “The La Caseta zone is shaping up as a key contributor to early-stage mining activities.”
The Bigger Picture: Zinc’s Structural Deficit
Beyond the drill core and resource calculations, Variscan’s timing couldn’t be better.
Zinc prices have been underpinned by tightening supply, with major global smelters struggling to keep up with demand from steel galvanisation and battery applications.
The Novales-Udias project is strategically located within trucking distance (80km) of Glencore’s San Juan de Nieva zinc smelter, one of the largest in Europe.
Should Variscan fast-track production, it could quickly become a crucial feed source amid a looming zinc supply crunch.
What’s Next?
Variscan’s focus now shifts to follow-up drilling at La Caseta and further definition of the feeder zone.
Meanwhile, results from maiden drilling at the Udias Mine are also expected soon, adding another layer of excitement to the company’s Spanish zinc ambitions.
With momentum building, the next phase of drilling could be pivotal in positioning Variscan as a leading European zinc player.
As Dickson puts it: “Busy times ahead with strong news-flow expected.”
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