Variscan Mines Limited (ASX: VAR) is an Australian mineral exploration company focused on zinc and lead deposits in Spain. The company’s Novales-Udias Project, which includes the San Jose Mine, is a high-grade zinc exploration and development asset with strong potential for resource expansion. By leveraging advanced drilling campaigns and geological research, Variscan aims to advance towards mining reactivation and deliver long-term value to shareholders.
Exceptional Zinc Discovery in the Central Zone
Variscan’s latest drilling campaign in the La Caseta area of the San Jose Mine has returned the highest assay result (width x grade) from a single drill hole in the company’s history. The discovery of 15.3m @ 17.42% Zn, 4.40% Pb in drill hole NDDT059 confirms the presence of a high-grade zinc feeder zone, which could lead to further expansion of the known resource.
The La Caseta zone has long been recognised for its rich mineral deposits, but this drilling has provided strong evidence of a sub-vertical feeder system, a channel through which metal-bearing fluids travelled to form the deposit. This finding adds significant value to the company’s ongoing exploration efforts.
Defining a New Exploration Target
Detailed geological analysis suggests that mineralisation at San Jose is controlled by structural features, with zinc-rich fluids moving through steeply dipping fault zones. Drill samples also indicate the presence of iron sulphides, galena, and elevated nickel levels, which typically accompany high-temperature ore deposits.
Based on these findings, Variscan has defined a priority exploration target located northwest of the La Caseta feeder zone. Since this area remains largely unexplored, it presents a promising opportunity for further drilling campaigns aimed at expanding the project’s mineral resource base.
The San Jose Mine is part of Variscan’s Novales-Udias project, a region known for its historic zinc production and untapped resource potential. The recent drilling results at both Udias and San Jose have been among the best in the company’s exploration history, reinforcing the high-grade nature of the deposit.
The significance of these findings extends beyond a single discovery. With 5 of the company’s top 20 drill holes coming from recent exploration work, the Novales-Udias project is proving to be one of Variscan’s most valuable assets.
With these exceptional results, Variscan is now focused on expanding its drilling program and updating its Mineral Resource Estimate (MRE) in 2025. The company is also progressing with feasibility studies and development plans that align with its long-term goal of restarting mining operations at San Jose.
Overall, these developments confirm Variscan’s strong position in the zinc exploration sector, with ongoing drilling campaigns, resource expansion, and strategic planning paving the way for future growth. Further updates will follow as exploration advances.