Variscan Mines (ASX: $VAR) reports high-grade zinc drill results

Variscan Mines Limited (ASX: $VAR) has announced further high-grade zinc intercepts from the ongoing underground diamond drilling program at the San Jose Mine, near Novales, located in Cantabria, northern Spain. The drilling campaign aims to expand known zones of mineralization and discover new zones to support an upgraded Mineral Resource Estimate in the future. The selected drilling results include NDDT027 with 14.5 m @ 8.93% Zn, 0.50% Pb, NDDT029 with 11.6 m @ 8.43% Zn, 1.61% Pb, NDDT026 with 7.0 m @ 5.30% Zn, 0.04% Pb, NDDT028 with 6.0 m @ 6.59% Zn, 0.62% Pb, and NDDT020 with 3.0 m @ 5.55% Zn, 0.41% Pb.

Executive Commentary on High-Grade Zinc Drill Results

Today we announced additional high-grade results from the ongoing underground drilling campaign at the San Jose Mine. The new assay results from drillholes continue to display significant zinc grades over substantial thicknesses as we continue to define and develop one of the highest-grade, development stage zinc deposits in Europe. The Board have decided that the underground drilling campaign will continue until mid 2024. Using our own portable drill rig and staff enables us to conduct this program efficiently, cost effectively and with a high degree of flexibility. This is in contrast to the wider junior mining sector which is signaling reduced drilling activity. In short, we are drilling when others aren't or can't. We look forward to reporting our next batch of assays from testing cross-cuttings structures beyond the existing Mineral Resource Estimate model. Our drilling campaign together with other exploration activities continue to support our overarching objective to assess the re-start potential of the San Jose Mine.

Summary of High-Grade Zinc Drill Results and Future Plans

The high-grade zinc assay results from the ongoing underground diamond drilling program at the San Jose Mine have provided further support to the existing Mineral Resource Estimate model. The drilling campaign aims to upgrade existing Indicated and Inferred resources and discover new zones of mineralization to increase the overall size of the current mineral resource tonnage. Variscan Mines (ASX: $VAR) plans to continue the upscaled underground drilling program until mid-2024, along with a planned surface drilling campaign in Q2/2024, with the objective of delivering a Mineral Resource Estimate upgrade later this year. The company's Managing Director & CEO, Stewart Dickson, emphasized the significance of the ongoing drilling program and the potential for re-starting the San Jose Mine, highlighting the efficient and flexible approach adopted by Variscan Mines.