Variscan Mines Reports Exceptional High-Grade Zinc Results from San Jose Drilling

Variscan Mines Reports Exceptional High-Grade Zinc Results from San Jose Drilling

Best-Ever Zinc Intercept Highlights Potential Feeder Zone Discovery

Variscan Mines Limited (ASX: VAR) (“Variscan” or “the Company”) is pleased to announce outstanding high-grade zinc and lead assay results from the San Jose Mine, part of its Novales-Udias Zinc Project in northern Spain. These results include the highest width x grade zinc intercept ever drilled by Variscan at the project and confirm the presence of a probable feeder zone, significantly enhancing the exploration potential of San Jose.

Key Highlights

• Record High-Grade Zinc Intercept:

  • NDDT059: 15.3m @ 17.42% Zn, 4.40% Pb – the highest grade-thickness drill result to date at Novales-Udias.

• Additional Strong Assay Results from La Caseta (Central Zone):

  • NDDT058: 14.3m @ 8.09% Zn, 1.28% Pb

  • NDDT060: 15.25m @ 6.10% Zn, 0.46% Pb

• Probable Feeder Zone Identified:

  • Structural mapping confirms a north-south oriented zone of high-grade sulphide mineralisation in the La Caseta area of San Jose.

  • The mineralisation style suggests a steeply dipping fault zone that acted as a primary conduit for metal-rich hydrothermal fluids.

• Exploration Upside & Follow-Up Target:

  • The area immediately northwest of La Caseta remains largely undrilled, making it a priority target for follow-up drilling.

  • The latest results are expected to expand the existing Mineral Resource Estimate (MRE), with an update anticipated in H2 2025.

Managing Director & CEO, Stewart Dickson, commented:

"These are some of the best drill results we have ever recorded at San Jose. The exceptional intercept in NDDT059 (15.3m @ 17.42% Zn, 4.40% Pb) is not only our highest width x grade result but also confirms the presence of what we believe to be a key feeder zone."

"Identifying feeder zones is crucial to understanding the scale of mineralisation at San Jose. This area was previously underexplored, and we now see significant potential for resource expansion and further high-grade discoveries. Our focus remains on systematically advancing San Jose towards production while continuing to deliver high-quality exploration results."

Next Steps

• Further drilling at the La Caseta feeder zone to expand high-grade mineralisation.

• Priority exploration drilling in the underexplored northwest zone of San Jose.

• Continued underground drilling at Udias Mine, following recent strong results.

• Progressing the Mine Re-Start Study, incorporating geotechnical, metallurgical, and economic assessments.

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About Variscan Mines Limited (ASX: VAR)

Variscan Mines Limited is focused on high-grade zinc exploration and development in Europe. The Company’s Novales-Udias Project in northern Spain includes the San Jose and Udias Mines, both with significant near-term production potential.

For more information, visit www.variscan.com.au.

or Further Information:

📩 Stewart Dickson – Managing Director & CEO | stewart.dickson@variscan.com.au | +44 (0) 7799 694195
📩 Jane Morgan Management – Investor & Media Relations | jm@janemorganmanagement.com.au | +61 405 555 618