Thursday 22 August 2019

Zinc explorer raises Kildare mine hopes

Ireland's latest zinc mine has moved a step closer as a prospect in Kildare was declared to have development potential by its Australian-listed backer. Stock photo: Thinkstock
Ireland's latest zinc mine has moved a step closer as a prospect in Kildare was declared to have development potential by its Australian-listed backer. Stock photo: Thinkstock

Fearghal O'Connor

Ireland's latest zinc mine has moved a step closer as a prospect in Kildare was declared to have development potential by its Australian-listed backer.

Perth-based Zinc of Ireland (ZMI) said it had increased its estimate of lead and zinc at its Allenwood, Co Kildare prospect to 860,000 tonnes, and that multiple zones of mineralisation had been indicated from near the surface to a depth of 500m.

Please log in or register with Independent.ie for free access to this article.

Log In

The Irish midlands has a long history of zinc mining, with major mines developed at Tara, Lisheen and Galmoy.

ZMI said that there was potential for further resource increases, and that drilling was ongoing in new areas to test for repetitions of the mineralisation.

"This updated resource ticks another important box for our 100pc-owned Kildare Zinc Project, with our contained zinc and lead resource inventory increasing to in excess of 850,000 tonnes," said ZMI executive director Patrick Corr.

"This significant improvement to the resources at Kildare greatly reduces the exploration risk threshold and provides a very strong foundation for our ongoing exploration, which is seeking to discover new zones of mineralisation, and to expand the known mineralisation."

ZMI said it was "well funded with cash, receivables and liquid assets" of more than AUS$3m (€1.8m).

Sunday Indo Business

Also in Business