logo-loader
Winmar Resources Ltd

Winmar Resources shares ride higher on commencing drilling in Spain

Exploring the Lomero gold-silver-copper-zinc deposit in Spain.

shutterstock_265299104-001_589bebd47466e.jpg
The mine historically produced 2.6M tonnes of massive sulphide

Winmar Resources’ (ASX:WFE) shares were trading 25%  higher intra-day after commencing a drilling program at the Lomero gold-silver-copper-zinc deposit in Andalucia, southern Spain.

The Lomero mine property is located just 8 kilometres west of the 100 million tonne MATSA mine and 4.6 million tonnes per year treatment plant operated by Trafigura and Mubadala.

Before it closed in 1991, the Lomero mine produced 2.6 million tonnes of massive sulphide at an average grade of 5.0 g/t gold and 1.2% copper.

The Lomero deposit remains open at depth and along strike.

Winmar started drilling at Lomero following the finalisation of earthworks for drill rig access, delayed by one week due to rain.

Interestingly, Winmar has brought forward its drilling, initially planned for year two, into its revised year one works program following the successful acquisition of drill datasets relating to over 10,000 metres of previous drilling.

Previous drill intercepts in the eastern lobe of Lomero include:

- 14.65 metres at 8.5 g/t gold and 11.2% zinc;

- 16.5 metres at 5.9 g/t gold and 2.4% copper; and

- 6.25 metres at 7.0 g/t gold and 3.5% zinc.

Winmar’s first drill programme at Lomero will target four positions peripheral to the high grade eastern lobe of the deposit ahead of an updated independent resource estimation.

In addition, the company will seek fresh samples of mineralisation for metallurgical test-work and input into an intended scoping or pre-feasibility study.

Quick facts: Winmar Resources Ltd

Price: $0.02

Market: ASX
Market Cap: $58.15 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Winmar Resources Ltd named herein, including the promotion by the Company of Winmar Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Winmar confirms dual listing and move from cobalt exploration to production

Winmar Resources Ltd (ASX:WFE) Chairman Jason Brewer tells Proactive London how the company is changing status and confirms its dual listing. Updates here too for investors on the company's cobalt operations in the Democratic Republic of Congo (the DRC) as well as why Winmar returned to the...

on 2/3/19

2 min read