{"id":617,"date":"2023-10-29T22:05:42","date_gmt":"2023-10-29T22:05:42","guid":{"rendered":"https:\/\/economicherald.net\/?p=617"},"modified":"2023-10-29T22:05:42","modified_gmt":"2023-10-29T22:05:42","slug":"variscan-mines-renews-exploration-license-at-guajarez-a-historical-zinc-rich-polymetallic-project-with-tonnes-of-upside","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=617","title":{"rendered":"Variscan Mines renews exploration license at Guajarez, a historical zinc-rich polymetallic project with tonnes of upside"},"content":{"rendered":"<p>Exploration license for historical Guajaraz project renewed by local government for another three years<br \/>\nGrab sampling around the former La Union mine shows up to 11.5% zinc<br \/>\nGeochemical soil prospecting will be carried out this quarter<\/p>\n<p>\u00a0<\/p>\n<p><strong>Variscan Mines has received a crucial three-year exploration license renewal for its highly prospective Guajarez zinc project near Madrid, Spain.<\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/variscan-mines-var\/\"><strong>Variscan Mines\u2019 (ASX:VAR)<\/strong><\/a> Guajarez project is centred around the former producing La Union underground mine, which together with the adjacent La Blanca and Manolita mines \u201cform a large surrounding exploration opportunity\u201d, it says.<\/p>\n<p>Production began at La Union in 1945 and ceased in in the mid-1980s, with limited exploration since that time. The mine now 380m deep, with several kilometres of underground workings over 10 separate levels accessing ore.<\/p>\n<p>Variscan says historical records indicate that the mineralisation was only partially exploited and remains open both along strike and at depth.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>High-grade zinc hits around the former La Union mine<\/strong><\/h2>\n<p>Variscan\u2019s most recent sampling program at Guajarez returned high grades of zinc, lead and silver \u2013 with a best hit of 11.5% Zn, 4.6% Pb and 248ppm Ag at sample GJ2.<\/p>\n<p>Other significant hits include:<\/p>\n<p>8% Zn, 3.7% Pb, 0.9% Cu, 278ppm Ag<br \/>\n5% Zn, 4.6% Pb, 115ppm Ag<br \/>\n6% Zn, 4.1% Pb, 218ppm Ag<br \/>\n0% Zn, 2.5% Pb, 81ppm Ag<\/p>\n<p>\u00a0<\/p>\n<p>Grab sample assay results at the Guajarez project. Pic supplied: (VAR)<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Next steps<\/strong><\/h2>\n<p>A future work program for the Guajaraz Project includes soil geochemistry, geophysical surveys and an initial drilling campaign.<\/p>\n<p>The geochemical soil prospecting campaign will start this quarter in the central zone of Guajarez to define new geochemical anomalies. Variscan says high Zn-Pb-Ag values \u201ccould confirm an extension of mineralisation in the area around the former producing La Union mine\u201d.<\/p>\n<p>The exploration will cover 1.3km2 and a geophysical campaign will cover the same areas with an objective to discover polymetallic deposits using direct current induced polarisation (DCIP) across a total of 8,500m.<\/p>\n<p>Based on the results a surface drilling campaign will be planned to test identified targets stepping-out from the historical La Union mine.<\/p>\n<p>\u00a0<\/p>\n<p>Proposed drilling at Guajarez. Pic supplied: (VAR)<\/p>\n<p>\u00a0<\/p>\n<p>\u201cWhile the Novales-Udias Project in northern Spain remains our immediate and highest-priority focus, it is excellent to extend the tenure of this highly prospective project in our portfolio,\u201d Variscan MD Stewart Dickson says.<\/p>\n<p>\u201cOur belief that Guajaraz represents an excellent, de-risked brownfield polymetallic project remains unchanged, we have generated high-grade results previously and are pleased to set out our initial design for future exploration fieldwork.\u201d<\/p>\n<p>Read more about the Novales-Udias zinc project: <a href=\"https:\/\/stockhead.com.au\/resources\/stacked-deposit-variscan-finds-new-lens-of-high-grade-zinc-at-san-jose-ahead-of-maiden-resource\/\"><strong>Stacked deposit: Variscan finds new lens of high-grade zinc at San Jose ahead of maiden resource<\/strong><\/a><\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Variscan Mines, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/variscan-mines-renews-exploration-license-at-guajarez-a-historical-zinc-rich-polymetallic-project-with-tonnes-of-upside\/\">Variscan Mines renews exploration license at Guajarez, a historical zinc-rich polymetallic project with tonnes of upside<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Exploration license for historical Guajaraz project renewed by local government for another three years Grab sampling around the former La Union mine shows up to <a href=\"https:\/\/economicherald.net\/?p=617\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":618,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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