Variscan Mines Triples Mineral Resource and Strengthens Financial Position

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.