Strategic Minerals plc “Iron Glen Update”

Strategic Minerals plc (LON:SML) reports on its Iron Glen project; they are in the second phase of drilling and have expanded the project.

The press release is quoted as saying,

The Iron Glen second phase drilling activity follows on from the initial drilling program completed in October 2010 in which 11 exploration holes were sunk to a maximum depth of 148 metres and where superior grade magnetite deposits  – as well as other minerals including silver, lead and zinc – were intercepted.  Results from the 2010 activity indicated 30% to 50% iron (up to 70% magnetite) over 10m -12m down hole widths. Sulphide base and precious metal mineralisation is associated with the magnetite skarn. Selected downhole intersections include 28m @ 52 g/t silver, and 28m @ 0.48% zinc, 76m @ 0.35% zinc, with several other holes returning 5m to 10m @ 0.5% to 1% zinc.

For the complete press release, click here.