Minco optimistic over Limerick drilling

Exploration company Minco said it and its partners have spent €1

Exploration company Minco said it and its partners have spent €1.7 million drilling 14,483 metres at the Tobermalug Prospect near Caherconlish, Co Limerick.

The company said of the 39 holes started in 2007 at the Pallas Green project, Co Limerick, a joint venture with Xstrata Zinc, 5 per cent were still in progress at the year end.

"Typically, in Irish zinc-lead deposits, the highest grades and width are associated with the southern margins of the deposit, spatially related to major, bounding fault structures. Such fault structures are believed . . . to lie south of the area tested to date," the company said.

A spokesman added: "We are hopeful that ongoing drilling to the south will encounter the expected development of greater thicknesses and higher grades of mineralisation commonly associated with the main controlling structure(s) of these types of zinc deposits.

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"We remain extremely optimistic for the potential of not only the Tobermalug Prospect itself, but for the Pallas Green property as a whole, which has the potential to contain more than one such deposit."