Variscan Mines Uncovers High-Grade Zinc Beyond Current Resources at Udías
Variscan Mines Limited continues to reveal promising high-grade zinc and lead mineralisation outside the existing resource boundaries at its Udías Mine in Spain, signalling significant growth potential for the Novales-Udías Project.
- New underground drilling at Udías Mine yields high-grade zinc and lead intercepts
- Significant mineralisation discovered beyond current Mineral Resource Estimate
- Drilling results correlate with historical face sampling data
- Plans to link Udías zones with San Jose Mine underway
- Updated Mineral Resource Estimate and mine re-start study expected in 2025
Continued Drilling Success at Udías Mine
Variscan Mines Limited (ASX – VAR) has announced a second tranche of assay results from its maiden underground drilling campaign at the Udías Mine, part of the Novales-Udías Project in northern Spain. The latest diamond drillholes have returned high-grade zinc and lead intercepts in previously undrilled zones, confirming the presence of significant mineralisation outside the current Mineral Resource Estimate (MRE).
Notably, drillhole UDDT016 intersected 8.00 metres at 9.60% zinc and 0.02% lead, alongside a 10.00-metre interval grading 5.58% zinc and 0.52% lead. Other holes such as UDDT009 and UDDT010 also delivered encouraging grades, reinforcing the potential to expand the resource base.
Linking Historical Data with New Discoveries
The new drilling results align well with exceptionally high-grade historical face sampling, suggesting that past mining operations did not fully exploit the primary sulphide mineralisation. The Udías Mine complex, with its extensive but under-explored underground workings, lies adjacent to the San Jose Mine and appears to be part of the same mineral system. Geological mapping and sampling support this interpretation, indicating vertically stacked lenses of zinc sulphide mineralisation along a north-northeast trend.
Drilling is ongoing, with a strategic focus on connecting these newly discovered zones with the existing MRE and extending towards the San Jose Mine. This approach aims to unlock additional tonnage and scale, potentially enhancing the overall project value.
Advancing Towards Production Restart
Variscan Mines is progressing metallurgical and geotechnical test work to support a Mine Re-Start (Scoping) Study, anticipated later in 2025. The underground access has enabled cost-effective short drillholes, facilitating rapid exploration and resource definition. The company’s leadership remains optimistic, with Managing Director Stewart Dickson highlighting the genuine potential to grow the project significantly through continued drilling success.
The Novales-Udías Project benefits from its location within a well-known zinc-lead district, proximity to infrastructure including the San Juan de Nieva zinc smelter, and strong local community support. The updated JORC-compliant Mineral Resource Estimate released in December 2024 already marked a threefold increase, and these latest results could further enhance the project’s profile.
Looking Ahead
With drilling set to continue and further assay results pending, Variscan Mines is poised to refine its resource model and advance development plans. The company’s methodical exploration strategy, combined with promising assay data, positions the Novales-Udías Project as one of Europe’s highest-grade zinc development opportunities.
Bottom Line?
Variscan’s ongoing drilling campaign at Udías is shaping up to be a catalyst for resource growth and project advancement in 2025.
Questions in the middle?
- How will the updated Mineral Resource Estimate impact Variscan’s valuation and financing options?
- What are the timelines and expected outcomes for the Mine Re-Start (Scoping) Study?
- Could the linkage between Udías and San Jose Mines unlock a larger contiguous resource?
