This news is most positive. The grades and intercepts shown in every release are by any measure, world class, they need to step out their drilling along strike and step up their exploration. Variscan's results compares favourably with ASX: Rumble Resources (market cap $114m). With this announcement Variscan has stated it is building towards release of an initial Mineral Resource Estimate, and from the existing data, that will likely be modest, however the key is looking at the integrity and coherence of the geological model now presented and the much bigger picture showing that resource can grow substantially. By comparison Variscan has substantial advantages over companies like Rumble which has a project that is reasonably isolated. Variscan on the other hand is a brown fields project located within 70 klm of the worlds largest zinc smelter owned by Glencore and is serviced by excellent road and nearby port infrastructure. That Glencore smelter currently needs to source its feedstock from Australia, so its no surprise that Asturua (Glencore) has provided this additional historical data. We need a little patience here, but there is little doubt Variscan has really excellent zinc exploration assets, that only need a focused campaign of aggressive drilling to prove up a a truly valuable and economic mineral resource.
VAR Price at posting:
1.5¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)