Tynagh Mine Type Mineralisation the Target of Minco Drill Programme at Moate
Minco’s Moate Property, located in County Westmeath, Ireland is centred on a specific geological target, identified by Minco, with potential for zinc-lead mineralisation of Tynagh Mine type. Minco has commenced a diamond drilling programme of six inclined drill holes, for a total of 1400 metres of drilling, led by Minco’s in-house geological team who successfully predicted the presence of the zinc-lead deposits at Pallas Green.
Minco owns prospecting licences PLs 1228, 1229 and 3981, which are located along the north-western margin of the Irish Midland Orefield on the “Tynagh-Ballinalack Trend”, comparable to the “Lisheen Trend” which underlies the Lisheen and Galmoy Mines in Counties Tipperary and Kilkenny, comparable to that at the smaller Ballinalack Zinc–Lead discovered by Noranda in 1970 and now being explored by Teck Resources, and also comparable to the “Pallas Green Trend” which hosts the Pallas Green Deposit in Co. Limerick discovered by Minco in 2007 where Minco’s interest was sold to Xstrata for US$19.4 million in 2011. The target at Moate was developed by Minco’s in-house geological team who successfully predicted the presence of the zinc-lead deposits at Pallas Green.
The general Moate area has seen intermittent exploration over the past fifty years following discovery in 1968 of the Moyvoughly deposit (125,000 tonnes averaging 8% zinc plus lead) located immediately to the east of Minco’s license areas. Exploration at Moate in the past has focused almost exclusively on the potential for Navan-type mineralization within the Moyvoughly Beds, a geological formation that is located in an equivalent stratigraphic position to the limestone beds that host the 100 million (plus +) tonne Tara Mines zinc-lead deposit at Navan Co. Meath. This past exploration work led to the identification of widespread traces of zinc-lead mineralisation in the surrounding Moate, Westmeath area.
Minco’s studies of previous drilling, however, have outlined a geological setting that Minco believes mirrors that at the former Tynagh Mine, where zinc-lead mineralization was hosted by breccias developed at the margin between the reef and off-reef limestone facies. The potential for reef hosted zinc-lead mineralization of “Tynagh-type” at Moate has never been explored. Minco’s Moate target lies 150 to 200 metres below surface in the immediate hanging wall of the major, northeast striking structural Trend, locally called the Moyvoughly Fault. This well-defined target has an estimated strike length of at least 3.5 kilometres and remains untested by any previous drilling in the area. Minco believes that its Moate target has potential to host a significant zinc-lead deposit.