Connemara Mining has announced the commencement of a new drill programme at the Oldcastle zinc project in Ireland.
Connemara Mining (LSE:CON) has announced the commencement of a new drill programme at the Oldcastle zinc project in Ireland.
According to Connemara, the costs will be carried by joint venture partner and operator Teck Ireland, which has the option to increase its interest from 65 to 75 per cent of the project.
As highlighted in the press release, recent work completed by Teck indicates a presence of hydrothermal system and basin bounding fault, and the drilling program of 1,800 metres is planned to extend over two or three holes.
CEO of Connemara, Patrick Cullen said:
“We are very excited to see drilling recommence at the Oldcastle joint venture, this phase represents a significant step forward for the project.
Teck have completed comprehensive technical work leading to this decision, integrating data derived from previous drilling, geophysics and 2D seismic to refine the targets. The target is compelling, focussed on the Pale Beds within an interpreted fault system that Teck consider may present a Navan analogue. We look forward to results over the coming months.”