Energia Applies for Permits Over Historical Zinc-Lead Mines

Energia Minerals Ltd. (ASX:EMX) announced that it’s applied for permits that cover two historical zinc-lead mines in Northern Italy. They are close to the borders of Austria and Slovenia, and the company believes that if granted they will offer it “significant diversification and growth opportunities.”

As quoted in the press release:

The Predil mine (previously known as Raibl), has a long production history dating back to the eleventh century AD and was prematurely closed in 1991 by ENI as part of the Italian government’s strategy for ENI to contract its activities to oil and gas.

Predil is estimated to have produced 30Mt of ore grading 5.0% zinc and 1.2% lead (1.9Mt of contained Zn+Pb) and, at the time of its closure, was producing approximately 50,000 tonnes of zinc and lead concentrates annually.

These concentrates were transported to Gorno and treated through the Ponte Nossa Refinery which still operates today. The Predil deposit remains open at depth.

Energia has also applied for an Exploration Licence covering the Salafossa Mine, which is located to the north of the town of San Pietro Di Cadore and within 7km of the Austrian border. Salafossa was discovered in 1959 and was mined by Societa Mineraria e Metallurgica di Pertusola SpA from 1964 until its closure in 1986.

Salafossa produced 10.95Mt of sulphide ore grading 5.0% zinc and 1.0% lead at an average production rate of approximately 500,000 tonnes per annum over 22 years. Salafossa production was from a single flat-lying deposit with dimensions of 750m by 200m and up to 30m wide which facilitated mining by low-cost, large scale open stoping.

Kim Robinson, managing director of Energia, commented:

Both of these projects were prolific, high grade producers of quality zinc and lead concentrates over a considerable period and represent attractive, low-cost exploration and possibly future development opportunities for Energia.

With refurbishment and resource development now in full swing at Gorno, we are very pleased to have secured these two new opportunities – which clearly demonstrate our intent to build a substantial longterm zinc business in northern Italy.

Click here to read the full Energia Minerals Ltd. (ASX:EMX) press release.