News

May 05, 2009

Belmore Resources Expects Great Things From Lundin Mining As Its Partner On Its Irish Zinc Licences

By Charles Wyatt

Good to meet Pat Mahoney at the Master Investor Show a week or two ago. He may officially be the bean counter at Belmore Resources, but he is a mining man at heart and has massive enthusiasm for his company’s zinc exploration progress in Ireland. Belmore listed on the Ofex market in 2004 before it became PLUS markets and found it difficult in the early days to gain traction as other five and 10 baggers operating in more exotic countries swam into view. In April last year, however, after an extended period of exploration Belmore hit a bulls’ eye on its zinc exploration acreage in Country Clare with the discovery of a new mineralised zone.

It had always known it was in the right area as previous exploration carried out by Central Mining Finance in 1995/96 identified a high-grade resource of zinc and lead-rich massive sulphides which amounted to approximately 400,000 tonnes at 12% zinc plus lead and 75g/t silver in the area of Milltown. In 2007 the exploration team at Belmore, consisting of George Emo the technical director and Dr John Colthurst, consultant geologist, decided to drill the base of the Waulsortian Reef below the old...