With this acquisition, the company now holds 100% interest in the zinc-lead exploration project.

The Pallas Green licences consist of ten contiguous prospecting licences totalling 294 sq km located on the southern boundary of the Irish Midland Orefield between Limerick and Tipperary.

Xstrata said Pallas Green has been the focus of an intensive exploration drilling programme as part of pre-feasibility studies towards the potential development of a major zinc-lead mine.

Ireland-based Minco is a base metals exploration and development company.