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An update from Variscan Mines Limited ( (AU:VAR) ) is now available.
Variscan Mines Limited has reported significant progress in its Novales-Udías Project in Northern Spain during the quarter ended December 2024. The company announced an updated JORC Mineral Resource Estimate, showcasing a threefold increase in resources and confirming the presence of one of the highest-grade zinc deposits owned by an ASX company. Drilling commenced in mid-November to further explore the mineralization potential, with results expected soon. Additionally, a fully underwritten entitlement offer raised over $2 million, strengthening the company’s financial position to advance its development plans, including a Mine Re-Start Study scheduled for completion in the first half of 2025.
More about Variscan Mines Limited
Variscan Mines Limited is a company focused on mining and exploration within the resources sector, primarily targeting high-grade zinc deposits. The company is actively involved in the development and expansion of mining projects, with a strong emphasis on zinc and lead mineralization, as demonstrated through its operations in the Basque-Cantabrian Basin in Northern Spain.
YTD Price Performance: 0.0%
Average Trading Volume: 3,648,015
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$7.83M
For an in-depth examination of VAR stock, go to TipRanks’ Stock Analysis page.
