Variscan Mines Limited (ASX:VAR) has commenced a Phase 3 underground drilling campaign at the San Jose Mine, near Novales, located in Cantabria, northern Spain.
Highlights
• Phase 3 underground drilling campaign of up to 1,000m gets underway at Variscan’s San Jose Mine
• This round of drilling is focussed on:
o testing in-mine prospective zones identified from the recent 3D model of mineralization and mine development
o expanding zones of mineralisation via in-fill and step-out drillholes
• Drilling is expected to continue through until the end of Q4 calendar 2023
• As this drilling programme occurs, Variscan is also progressing towards a maiden JORC-compliant Mineral Resource Estimate for the San Jose Mine.
Exploration Potential and Drilling Strategy
Variscan’s recently published 3D model of mineralization and mine development identified prospective zones for future exploration and resource tonnage potential within the San Jose Mine. This Phase 3 underground drilling programme is based on synthesized findings from the successful drilling campaigns already conducted by Variscan, as well as the collation of a substantial historical dataset and subsequent 3D modelling. The programme will see up to 1,000m of drilling undertaken, as Variscan explores multiple zinc targets within the San Jose Mine.
It will also continue to test and expand known zinc mineralized zones and prospective zinc-rich lenses that have been identified in our earlier drilling and exploration work. These zinc lenses are spread out along an in-mine strike length of over two km, with the mine situated on the wider 9km Novales-Udias Trend.
The underground drilling programme will generally consist of short holes (<30m) drilled from the main gallery system of the mine (or from the overlying stopes) directly into the underlying or overlying, undeveloped, laterally extensive mineralized lenses, the presence of which is supported by geological evidence, but that require confirmation drilling. The drilling campaign will be conducted by utilizing a portable drill, owned and operated by Variscan, which confers cost-effectiveness, efficiency and flexibility.
“I am pleased to report that Variscan has kicked-off its third campaign of underground drilling at the San Jose Mine,” Managing Director and CEO, Stewart Dickson, said.
“Our drilling and modelling has indicated significant exploration upside both on surface and underground. This underground in-fill drilling, off the back of recently reported successful step-out drilling, will address strategic spatial gaps which could yield further tonnage. I look forward to providing regular updates as results become available.”
Looking Ahead and Workplan
The company is now progressing the following activities, all of which are focussed on the San Jose Mine:
• Delivery of approvals to undertake further surface drilling in and around the San Jose Mine to test promising near-mine exploration targets
• Reporting results of Phase 3 underground infill and resource definition drilling
• Publishing a focussed JORC-compliant maiden Mineral Resource Estimate
• Reporting a Mine Re-Start Concept Study
• In support of the above activities, the delivery of associated environmental, social and governance (ESG) initiatives.
