Next Investors logo grey

Promising Zinc Assays for Zinc of Ireland


Published 18-JUL-2017 14:42 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Zinc of Ireland (ASX: ZMI) has released promising assay results following drilling at its Celtic Tiger prospect which highlights the western margin of the Allenwood Graben as a 4 kilometre long exploration target, with the prospect located approximately 1 kilometre west of the McGregor deposit.

Both the Celtic Tiger prospect and the McGregor deposit are part of ZMI’s 100% owned Kildare MVT zinc project located in Northern Ireland, a region hosting prominent zinc deposits which are currently being operated by multinational mining groups.

The Celtic Tiger drilling results are significant in that the McGregor JORC resource does not include this zone, which given outstanding grades including 2.85 metres grading 20.2% zinc could potentially lead to a substantial resource increase.

It should be noted here though that ZMI is an early stage play and investors should seek professional financial advice if considering this stock for their portfolio.

While Celtic Tiger lies to the west of the McGregor deposit, its close proximity would provide ZMI with the capacity to mine and process ore from both areas. The proximity of the Allenwood Graben can be seen in the following map.

kildare project

ZMI noted that there is the potential for shallow mineralisation to exist in this new area of exploration, a notable feature given that it could positively impact the project’s economic viability.

Another good read on behalf of management

ZMI’s management has consistently demonstrated its ability to conduct creative drilling campaigns. While the company has the benefit of substantial historical exploration data, it hasn’t solely relied on the results of previous drilling and sampling.

The company’s decision to drill below previous depths paid dividends in the 2016 campaign, resulting in the establishment of a much larger resource at McGregor.

celtic tiger map

Similarly, the Celtic Tiger prospect was targeted following ZMI’s reinterpretation of the structural framework of the Kildare district and the recognition of the Allenwood Graben.

The model implies that there is a fault network running along the western margin of the Allenwood Beds and the Waulsortian Reef in this area (see below), making it a highly favourable setting for structurally controlled zinc mineralisation.

Commenting on these recent developments, ZMI’s managing Director Peter van der Borg said, “Achieving an intersection grading 20% zinc over a 3 metre thickness in a new area is highly encouraging in light of our rationale for targeting there, and we now have an exciting new prospect in close proximity to the McGregor resource offering considerable leverage to the upside.”

Van der Borg said that the company is in the process of planning and permitting the next round of drilling with a view to following up on the spectacular intercepts just announced, while at the same time examining from a strategic perspective how Celtic Tiger could potentially fit into the broader Kildare project.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.