Minco shares soar after sulphide discovery in Canada

Exploration and development company Minco announced a significant sulphide discovery at its project in Buchans, central Newfoundland.

The company said it had come across ‘multiple intersections of massive sulphide mineralisation’ with grades as high as 26.05% of combined zinc, copper and lead.

Situated on the southern side of the planned open pit for the Lundberg resource, the four holes were designed to test for the possible extensions of two vast sulphide horizons called Lucky Strike and Engine House, the company added.

Minco said the work indicated that the mineralisation may be more extended than originally estimated.

Pimco shares soared 136.96% to 2.40p at 16:20 on Tuesday.