Enhanced Exploration and Infrastructure Developments
Variscan Mines is advancing exploration and development activities at its Novales Zinc Project in northern Spain, with intensified drilling efforts across the high-grade zinc district.
Underground drilling has started at the historical Emilia Mine. Meanwhile, an expanded surface drilling campaign is set to begin later this month along the San José-Udías zinc trend. These efforts follow Variscan’s recent $5 million capital raising.
The Emilia Mine, located outside the current Mineral Resource Estimate, offers substantial growth potential, evidenced by past high-grade zinc intersections such as 2.85m at 33.50% Zn and 0.52% Pb. Upcoming channel sampling assays are expected to provide further insights.
Infrastructure upgrades are underway at the Udías Mine to support a broader underground drilling campaign targeting high-grade mineralization extensions. permitting activities for the San José Mine restart are progressing.
New Developments and Future Plans
Variscan is proceeding with a Hydrogeological Study and Environmental Impact Assessment to facilitate the San José Mine restart. These actions are part of the company’s broader strategy to enhance its operational capabilities.
Tony Wehby, Variscan’s Chairman, stated, “This announcement reflects the enthusiasm that the capital raising has given the whole Variscan team, as we embark with renewed vigour on a range of activities to add value to our Novales Project.”
The Novales Project, located in Spain’s Basque-Cantabrian Basin, includes over 60 historical zinc mines within a 12km mineralized corridor. It is strategically positioned 9km from the world-class Reocín zinc mine and within trucking distance of Glencore’s San Juan de Nieva zinc smelter.
Variscan plans to integrate historical data with its drilling results to refine new targets. The company aims to solidify its position in Europe’s zinc market. A General Meeting is scheduled for July to seek shareholder approval for the remaining $4 million tranche of capital raising.
The company controls approximately 111km² of tenure in the region, which hosts significant zinc resources, highlighting the district’s potential. With multiple high-grade targets advancing, Variscan is poised to unlock new opportunities in one of Europe’s emerging zinc districts.
