Rock samples containing over 51 per cent zinc, found near Castlemaine, have fuelled speculation that hundreds of jobs may be created.
On Thursday, exploratory zinc mining company Connemara Mining PLC announced the find on land close to the historic silver and lead mine at Annagh.
Company chairman John Teeling said the find could mirror similar zinc finds at Tara, Co. Meath, and Lisheen, Co. Tipperary, which are ranked the fifth and 12th largest zinc mines in the world.
"We have no idea how much is in Castlemaine but we have found high grade," said Mr Teeling , adding: "There's more high grade in there, this didn't happen by itself. This is very significant from a geological perspective."
A geophysics process will now be started to discover the extent of the underground zinc pods and a further two years of exploration will then be required. Depending on the significance of the find, it would be a full seven years before a fully functioning mine could be developed.
"The rule is that the best place to find a mine is where there has already been one," the chairman stated, adding that the company had an experienced base metal geologist who recognised the full potential of the adjoining former mine.
SourcE: The Kerryman
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