Corporate Overview

Minco PLC is a London listed (AIM Market: MIO) mineral exploration and development company engaged in zinc exploration in Ireland and England as well as zinc-lead-copper-silver exploration and development in Newfoundland, Canada, and manganese development in New Brunswick, Canada.

Minco has an investment in base metal and silver projects in Mexico through an investment (26%) in Xtierra Inc.  

Minco's management has an established track record of discovering, developing and operating mines world-wide.

Positive Economic Assessment on Woodstock Manganese Project

New Brunswick, Canada - In July 2014, Minco announced the completion of a positive Preliminary Economic Assessment on its 100% owned Woodstock electrolytic manganese metal project located 5 km west of the town of Woodstock and the junction of the Trans Canada and I95 Highways in west-central New Brunswick. 

The Preliminary Economic Assessment (“PEA”) indicates a pre-tax Net Present Value (“NPV”) of CDN$846 million at a 8% discount rate and a pre-tax Internal Rate of Return (“IRR”) of 17.97%, based on a 3,000 tonne per day (“tpd”) open pit mining, hydrometallurgical and electrowinning operation, with a pre-production capital expenditure of CDN$864 million and average annual payable production of approximately 80,000 tonnes of electrolytic manganese metal.

3D overview rendering of the open pit planning at Woodstock Manganese Project, New Brunswick

North Pennines, England - Minco has commenced a new exploration initiative in the North Pennine Orefield located in the northern English counties of Cumbria, Northumberland and Durham, centred around the historical mining town of Nenthead.

Exploration is focused on the search for stratiform, replacement-style zinc and lead deposits in the unexplored, more massive limestone formations of the basal Carboniferous stratigraphy. There is significant untested potential for such mineralization approximately 300-400m below previous, adit-accessed workings, and such deposits could be significantly larger than any previously discovered.

Newfoundland, Canada - Minco has four advanced base metal properties in the Buchans area of central Newfoundland that contain numerous exploration prospects. At the core of these base metal properties is the Lundberg copper-zinc-lead/deposit, which was the subject of a positive preliminary economic assessment completed in August of 2011. 

The Buchans Mine operated from 1928 to 1984 and was regarded as one of Canada's richest base metal mines and is reported to have produced about 16 million tonnes of high grade zinc, lead and copper over that period. The Lundberg deposit is a stockwork-type VMS deposit surrounding and extending from the old Buchans mine, containing lower grade zinc, copper, lead and minor silver, which was identified by Buchans in a review of the historical archives of the old Buchans mine and upon which Buchans Minerals Corp has reported an Inferred Resource of 22.21 million tonnes averaging grades of 1.62% zinc, 0.69% lead, 0.38% copper and 5.81 g/t silver.

In August 2011, a positive Preliminary Economic Assessment (PEA) was completed on the Lundberg project by Wardrop Engineering, based on a 5,000 tonne per day open pit mining and milling operation over a 10 year mine life. The PEA is based on Inferred Mineral Resources, which are not Mineral Reserves and do not have demonstrated economic viability. Wardrop has recommended a number of programs to optimize and improve the Lundberg project to move it towards completion of a pre-feasibility study.

Minco is expanding the scope of the project to include an internal economic scoping study to determine if three satellite deposits in the region (Bobbys Pond deposit (100%), Daniels Pond deposit (100%) and Tulks Hill deposit (49%)) can positively contribute to a central milling facility at Lundberg.  

Should this internal economic analysis indicate the satellite deposits could enhance the overall economics, then detailed mine plans will be completed for each satellite deposit and further metallurgical tests performed to determine if the satellite deposit ores can be successfully incorporated, either by blending or campaign processing at the proposed Lundberg processing facility.

Ireland - Minco is also engaged in zinc-lead exploration in Ireland, adjacent to the Tara mine. 

Minco holds a 2% NSR royalty on the Curraghinalt gold deposit located near Omagh, in Northern Ireland which is being explored by Dalradian Resources Inc.

The Curraghinalt property is in the Sperrin Mountains of County Tyrone, about 15 km east of Omagh, in Northern Ireland.

Dalradian Resources Inc. is a TSX and London (AIM)-listed gold exploration and development company, incorporated in Canada focused on advancing the Curraghinalt gold deposit in County Tyrone, Northern Ireland. 

Curraghinalt is a high grade lode gold deposit with mineralization still open in all directions. A 2014 NI 43-101 compliant resource returned:

  • Measured mineral resource of 0.02 MT grading 20.15 g/t gold for 15,000 contained ounces
  • Indicated mineral resource of 2.98 MT grading 10.34 g/t gold for 989,000 contained ounces
  • Inferred mineral resource of 8.01 MT grading 9.67 g/t gold for 2,490,000 contained ounces

The 2014 Preliminary Economic Assessment shows that it is a high grade, high margin deposit with relatively low capital expenditures required to build a 162,000 ounce per year mine. Dalradian has a work program underway including infill drilling and an underground exploration program (885 metres of development with two test stopes).and a feasibility study to further advance the project toward production. Dalradian is also undertaking a work program in support of a planning (permitting) application for construction of an operating gold mine at Curraghinalt. Components of the program include a feasibility study, an environmental impact assessment.