Connemara Mining PLC (LON:CON) has announced that the first new hole at Stonepark Zinc Project intersected 32.2% combined zinc and lead over 5.4m.
The AIM-listed firm said G-11-2638-01 intersected 5.40m of 25.0% zinc and 7.2% lead (32.2% Zn+Pb combined) and 12.2g/t silver, with true width estimated at 4.9m, verifying one of the high-grade zones within the Stonepark resource.
READ: Connemara Mining now has a major zinc resource under its belt, and is looking to build further inventory
The Irish gold and zinc exploration company said this hole was drilled into a key area of known high-grade mineralisation on the presumed eastern edge of the recently announced maiden Inferred Mineral Resource Estimate.
Connemara Mining added that robust mineralisation interpreted to be open eastwards toward Glencore’s neighbouring Pallas Green deposit.
Patrick Cullen, chief executive officer, said the results underline the high grade nature of the deposit.
"The decision to drill inclined holes has yielded immediate results by giving better structural information. This has opened the deposit eastwards, presenting opportunity to increase the Resource towards Glencore's Pallas Green deposit,” he said.
He added: "The strategic value of the location of Stonepark should not be overlooked, it lies adjacent to Pallas Green. These deposits are Ireland's two largest undeveloped zinc-lead Resources by metal contained."
The Stonepark Zinc Project is a joint venture between Connemara and the project operators Group Eleven Resources.
In early afternoon trading, Connemara’s shares rose 0.9% to 2.80p.