Hannan Metals discovery boosts hopes of future deposits near Kilbricken site

MINERALS explorer Hannan Metals has made a new discovery near its Kilbricken prospect in Co Clare.

The Toronto-listed business is planning a new drilling programme that aims to complete 20km of holes at the project as it seeks to extract minerals on a commercial basis.

That programme is scheduled to begin this summer.

There are deposits of zinc, lead, copper and silver in the ground, where Hannan has been carrying out drill work for the last year or so.

It said the new discovery is 600m away from the prospect in an outcrop.

Hannan chief executive Michael Hudson said outcropping discoveries of this nature are “extremely uncommon” in Ireland.

“It was only a recent forest-clearing programme that allowed our geologists to make this promising new discovery at Finanagh, 600m from Kilbricken,” Hudson said.

“All large Irish base metal mines are known to comprise of clusters of individual deposits. At Kilbricken two such deposits resource areas have so far been drilled, and a discovery like this in outcrop delivers great encouragement that many additional deposits remain to be found in close proximity.

“Along with the many high-quality targets identified by the recent seismic survey, we look forward to drill testing the Finanagh outcrop discovery when drill rigs return to the project this summer,” he added.

Hannan is one of a number of companies active in the zinc exploration sector here, which has seen a resurgence of activity after a large increase in zinc prices in recent times.

Ireland is one of the world’s biggest zinc producers due to the Tara Mines project, where owner Boliden has recently identified an opportunity to extend the life of the project.

Global giant Glencore is carrying out drilling at a prospect at Pallas Green in Limerick, while Irish business Group Eleven Resources completed an IPO in Canada and is working on a number of prospects.

Elsewhere, the Sunday Independent reported last month that Galmoy Mines in north Kilkenny is set to reopen for zinc extraction after Shanoon Resources applied to resume operations at the facility.

Shanoon applied to Kilkenny County Council for permission to recommence underground mining at the site.

In 2008 it was announced that the mine would close and that more than 200 workers would lose their jobs. It’s estimated that recommencement of mining would create around 50 new jobs.