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Thursday, 03 April 2008 13:38 |
BELMORE RESOURCES (HOLDINGS) PLC
("Belmore" or "the Company")
HIGH GRADE ZINC/LEAD MINERALISATION DISCOVERY IN COUNTY CLARE
10 Metres of 19.36% Combined Zinc and Lead plus Silver
The Board of Belmore Resources, a minerals exploration company with a focus on projects in the Republic of Ireland, is pleased to announce that a recently completed diamond drillhole on Prospecting Licence 3679, in which Belmore holds a 100% interest, near Quin in County Clare, intersected newly discovered zinc and lead mineralisation.
Highlights:
- New zinc and lead mineralization discovery;
- Drillhole intersected 18 metres of massive sulphide;
- Results include 10 metres at 13.84% Zinc, 5.52% Lead and 62.84 gm/tonne Silver;
- The mineralisation is open in all directions;
- Belmore holds 100% of the licence where the minerlisation has been discovered.
Drillhole 3679-04 was drilled at the old 19th century Kilbricken lead mine, in Monanoe Townland, to test the highly prospective basal part of the Waulsortian Reef Limestone. This horizon hosts the Lisheen and Galmoy ore bodies as well as the recently discovered mineralisation in the Caherconlish area of County Limerick.
The drillhole intersected 18 metres of massive sulphide at the base of the Waulsortian Reef. The top part of this massive sulphide consists of virtually barren pyrite but the bottom part contains high-grade zinc and lead sulphides as well as pyrite and arsenopyrite.
The interval from 448.1 to 458.1 metres gives the following composite result:
10 metres at 13.84% Zinc, 5.52% Lead and 62.84 gm/tonne Silver.
The mineralisation is open in all directions and while there are some old drillholes in the area none of them were deep enough to reach even the top of the Waulsortian Reef. The nearest hole, which does constitute a test, is 1.4 kilometres away to the northeast.
Further diamond drilling is required to determine the extent of the mineralisation.
Belmore will now consider and evaluate these results with a view to determining future strategy in respect of this highly significant discovery
The drillcore was analysed by OMAC Laboratories, Loughrea and this press release was prepared and checked by EurGeol John Colthurst PhD PGeo.
Company Chairman Mr Ian Forrest said: "I am delighted that the perseverance of management and patience of shareholders now has a serious possibility of being rewarded. The next few months promise to be an active time for the Company as we evaluate this discovery and continue to seek new opportunities."
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