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Variscan Mines Limited (ASX:VAR)

ALERT: Price-sensitive ASX Announcement for VAR
Current share price for VAR : $0.004 -0.001 (-20%)+
Announcement
Release
3 Jun 2026 9:45AM
Price at Release
$0.005
Full Release
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Summary
Variscan Mines Limited has announced advancements in their drilling program at the Novales Project in northern Spain. The company is conducting both surface and underground drilling at the Emilia and Udías sites, with the objective of expanding the mineralized footprint along the 12km Novales Zinc trend. A channel sampling program at the historical Emilia Mine has been completed, with assays pending, while underground drilling aims to provide geological data for a forthcoming surface drilling campaign. Preparations are also underway for additional power infrastructure at the Udías Mine to support deeper underground exploration. These efforts are part of Variscan's wider strategy to enhance the resource potential of their zinc portfolio in Spain and support a mine restart plan. The project holds significant exploration opportunities, leveraging a district-scale zinc corridor rich in high-grade mineralization and historical mining data.
Key Points
  • Surface and underground drilling advancing at the Novales Project
  • Channel sampling completed at Emilia Mine, assays pending
  • Underground drilling at Emilia expanding mineralisation footprint
  • Surface drilling scheduled to commence soon
  • Infrastructure upgrades at Udías to support expanded drilling
  • Exploration underway across the 12km Novales Zinc trend
  • Continuation of mine restart plan
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.