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Zinc of Ireland NL a leading ASX % Gainer following discovery

The leading % Gainers on the Australian Securities Exchange.
Zinc of Ireland NL a leading ASX % Gainer following discovery
Zinc of Ireland NL has made a discovery

Zinc of Ireland NL (ASX:ZMI) has discovered significant new high-grade zinc mineralisation across multiple zones at the Celtic Tiger prospect, part of its Kildare MVT Zinc Project in Ireland.

The company’s shares were last trading 20% higher intra-day, at $0.006.

Assay results from the recently completed drilling confirmed the presence of zinc mineralisation across four zones, including a best result of 2.85 metres at 20.2% zinc + 0.88% lead from 193.9 metres.

This has opened up a significant new area for follow-up exploration well outside the project’s existing resource inventory.

Last month, the company revealed the maiden resource for Kildare of 5.2 million tonnes at 8.6% combined zinc + lead for 374,400 tonnes of contained zinc and 72,800 tonnes of contained lead.

The Celtic Tiger prospect constitutes a previously untested area circa 1 kilometres to the west of the McGregor prospect, which hosts the majority of the recently published maiden resource.

Importantly, achieving an intersection grading 20% zinc over a three-metre thickness in a new area is highly encouraging in light of the company’s rationale for targeting there.

Zinc of Ireland now has a significant new prospect in close proximity to the McGregor resource offering a considerable upside potential.

The company is in the process of planning the next round of drilling, during which it will aim to add significant tonnes to the McGregor resource by following up on the spectacular intercept there in June.

At the same time, Zinc of Ireland will assess the potential of the Celtic Tiger prospect and how it can fit into the future of the project.

Top ASX Gainers in morning trade

Company Code Last Change Volume
Memphasys MEM $0.002 100% 250,000
Astro Resources ARO $0.003 50% 200,000
Kazakhstan Corp KPC $0.022 29.41% 59,339
Elysium Resources EYM $0.012 20% 1,179,559
Dart Mining DTM $0.006 20% 1,440,872
Zinc of Ireland ZMI $0.006 20% 4,083,400
Longford Resources LFR $0.030 20% 102,500
Reffind RFN $0.012 20% 150,000
Indo Mines IDO $0.012 20% 55,000


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Zinc of Ireland NL Timeline

October 28 2016
August 26 2016

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