Assay results from the latest hole on the winter programme conducted at the W85 deposit have confirmed high-grade zinc and lead mineralisation with good continuity.
The intercept was a 72m length grading 5.6% Zn and 1.8% Pb from 34.57m depth. Within this was a narrower 36.48m hit averaging 6.44% Zn and 2.37% Pb from the start of the hole.
This hole, the second from Darnley Bay's C$5 million (US$3.7 million) 2017 exploration programme, was used to obtain metallurgical samples as part of its planned work on a feasibility study. The first winter hole, released in May, hit 50.5m of mineralisation at 9.03% Zn and 4.1% Pb from 62.5m depth.
Earlier in the year Darnley published a PEA on Pine Point, including the W85 deposit, which envisaged production of 612,245 tonnes of zinc and 243,084t of lead over a 13-year mine life.
The project would cost $153.8 million to build and provide a net present value (after tax, 8% discount) of $210.5 million.
Darnley Bay's share price has risen 26% to $0.29 apiece since May 18.