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Minco plc.
Minco is a London listed (AIM Market: MIO) mining exploration and development company engaged in zinc exploration in Ireland and England as well as zinc-lead-copper-silver exploration and development in Newfoundland Canada and manganese development in New Brunswick, Canada. Minco has investments in base metal and silver projects in Mexico through an investment (29%) in Xtierra Inc. listied on the TSX Venture Exchange in Toronto. The Company's management has an established track record of discovering, developing and operating mines world-wide and this expertise is directed to turning Minco into a production and holding company.
Minco's Strategy
Through the acquisition of Buchans Minerals Corporation Minco now has 100% interest in the Lundberg and other properties in the historic Buchans Mining Camp in Central Newfoundland.
The Buchans Mine operated from 1928 to 1984 and was regarded as one of Canada's richest base metal mines and is reported to have produced about 16 million tonnes of high grade zinc, lead and copper over that period. The Lundberg deposit is a stockwork-type VMS deposit surrounding and extending from the old Buchans mine, containing lower grade zinc, copper, lead and minor silver, which was identified by Buchans in a review of the historical archives of the old Buchans mine and upon which Buchans Minerals Corp has reported an Inferred Resource of 22.21 million tonnes averaging grades of 1.62% zinc, 0.69% lead, 0.38% copper and 5.81 g/t silver.
In August 2011, Buchans announced the completion of a positive Preliminary Economic Assessment (PEA) by Wardrop Engineering, based on a 5,000 tonne per day open pit mining and milling operation over a 10 year mine life. The PEA is based on Inferred Mineral Resources, which are not Mineral Reserves and do not have demonstrated economic viability. Wardrop has recommended a number of programs to optimise and improve the Lundberg project to move it towards completion of a pre-feasibility study.
Minco will continue to advance its projects in Ireland and also seek other advanced stage projects in other locations around the world.
Contact Us
Canadian Office
Suite 700
220 Bay Street
Toronto, Ontario
M5J 2W4
Tel: (416) 362-8243
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