Zinc of Ireland NL (ASX:ZMI) has received exceptional drilling assays from the McGregor prospect at the Kildare Zinc Project in Ireland, including 23.25 metres at 12.7% zinc+0.8% lead from 397 metres.
This intercept is located 45 metres from the nearest drill hole and is likely to have a positive impact on Kildare’s recently published maiden resource of 5.2 million tonnes at 8.6% zinc.
The company’s shares were last trading 50% higher intra-day, at $0.006.
Additional zones of mineralisation include:
- 5.25 metres at 10.2% zinc + 2.5% lead from 240.95 metres;
- 2.06 metres at 8.1% zinc + 0.4% lead from 340.30 metres; and
- 2.61 metres at 7.5% zinc + 0.2% lead from 351.94 metres.
Zinc of Ireland’s drilling also discovered a mineralised fault located to the east of the Base of Reef target.
This structure displays the characteristics of a ‘feeder’ fault with the McGregor mineralisation sitting in its hanging wall.
This is particularly encouraging because mineralisation in Irish zinc deposits is commonly associated with such ‘feeder’ faults, and the mineralisation often thickens and increases in grade towards them.
Zinc of Ireland is planning additional holes as part of the Phase 2 diamond drilling program with the objective of increasing the mineral resource based on the latest McGregor intersections.
Together with the recently published maiden JORC resource, the latest drill results have laid the foundation for an exciting period of exploration for Zinc of Ireland.