Drilling in east Limerick

Stovepipe

Hi all,
I was flying in East Limerick the other day and saw dozens of drilling rigs in operation, in farmland around the N24. A friend of mine who has land there was asked to allow drilling on his land and he declined when they wouldn't tell him what they were looking for and the drilling rep was very cagey. Rumour has it that there is a very large zinc deposit in the area. Has anybody any ideas or info about this operation? My friend is of the opinion that landowners do not own the mineral rights under their property. Is this true?

regards
Stovepipe

Fries-With-That

This is what you were looking at I think.

Pallas Green Project, Ireland (23.6% owned)

Minco's strategy has been to develop the Pallas Green project in Co. Limerick, which is a joint venture with Xstrata Zinc (23.6%|76.4%), covering exploration licences totaling 294 square kilometres located on the southern boundary of the Irish Midland orefield between Limerick and Tipperary. The project is the focus of an intensive exploration drilling programme of a potentially world-class zinc-lead deposit and probably the largest such drill programme in the 50-year history of the Irish mining industry.

Ireland is an established regional zinc producer supplying around half of Europe's mine production. In its 2010 Half Yearly Results, issued on August 4 2010, Xstrata, referring to the Caherconlish Cluster, commented that "recent discoveries continue to show encouraging signs of a potential world-class resource."

Full Story Link http://www.minco.ie/projects/pallasGreen.htm

Stovepipe

Thanks very much. I wonder what the implications are for the locals.

regards
Stovepipe