Variscan Mines secures $5M funding for Spanish zinc expansion. The ASX-listed explorer has received firm commitments for a two-tranche placement from institutional and sophisticated investors to advance its Novales-Udias project in Spain. Funds will support targeted drilling to expand mineral resources and unlock production potential at the former Emilia and Margarita mines. The company simultaneously released previously unreported assay results from historical underground drilling, revealing excellent mineralisation continuity extending over four kilometers. With 1,484 drillholes and 70 face samples now compiled, Variscan is positioning itself for surface drilling in 2026 while completing metallurgical and engineering workstreams. Directors including Tom Kent are backing the raise substantively, signaling confidence in project advancement toward production restart.
Post from MarketNews_en
Log in to interact with content.