Drilling aims to expand the Keel’s current zinc resource.
Ram Resources has commenced its maiden drill program at the Keel Zinc Project located in a world-class mining region of Ireland.
The 3,000 metre, 12 hole program is aimed at growing and upgrading the current JORC resource measuring 6.9 million tonnes grading 5.6% zinc and 0.8% lead.
The first seven diamond drill holes will seek to confirm known mineralisation.
Bill Guy, managing director, commented: “The Keel project is a brownfields exploration opportunity in a world-class mining jurisdiction.
“By applying modern exploration techniques we can unlock the project’s significant potential, creating value for shareholders and employment opportunities for locals.”
Keel Zinc Project
Ram has a 12 month option to acquire an 80% interest in the Keel Zinc Project, which covers 66 square kilometres over low use farmland in the Midlands region of Ireland.
The Irish Midlands ranks first globally in terms of zinc deposits discovered relative to land area.
Ireland has a long history of mining operations, is one of the largest exporters of zinc concentrate to European smelters and ranks ninth globally in the Fraser Institute survey for exploration.
The Keel Inlier is a large structure in the Irish Midlands, which has a reputation for being some of best zinc ground in the world.
The region is highly prospective, with six other base metal prospects and deposits located within 40 kilometres of Keel.
Europe’s largest zinc mine, Tara, where over 85 million tonnes of ore has been extracted is located 90 kilometres away in the same geological formation.
The structure is over 25 kilometres long, with a 10 kilometre strike length sitting within the Keel project area.
Analysis
Drilling signals the start of process to rapidly advance Keel through to a pre-feasibility study, due to the project’s extensive history of exploration.
Three previous explorers – Rio Tinto, Boliden and Lundin have historically drilled 40,000 metres providing Ram with data to fast track a maiden JORC in 2017.
Ram aims to commence a scoping study during the current June quarter.
With wide open fields and relatively mild weather, the Keel project provides the drillers with good working conditions and local landowners have shown strong support.
The drilling program is expected to generate strong news flow for several months and progress the project towards commencing a pre-feasibility study at the end of 2017.
With the first seven holes targeting known mineralisation, exploration-based news flow is expected to start strongly.
The acquisition of the option to purchase an 80% interest in Keel has been a major share price catalyst for Ram.
Shares are trading up 60% year to date, currently trading at $0.048.
Source: proactiveinvestors
