Anglesey Mining Plc Parys Mountain - Exploration and Drilling Update

 
TIDMAYM 
 
[image] 
 
Trading Symbol 
 
AIM: AYM 
 
26th October 2023 
 
Anglesey Mining plc 
 
("Anglesey" or "the Company") 
 
Parys Mountain - Exploration and Drilling Update 
 
Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased 
to report that the drilling rig for the upcoming Northern Copper Zone (NCZ) 
infill program has been mobilised and has arrived at the Company's Parys 
Mountain Cu-Zn-Pb-Ag-Au project, located on the Isle of Anglesey. Drilling is 
expected to start on 27th October. 
 
[image] 
 
Highlights 
 
  · The drilling program is planned for 6 drillholes (c.3,700m) to infill 
certain zones of the resource and to provide verification of the historical 
drilling and is expected to take up to 25 weeks to complete. 
  · The overall objective of this program is to upgrade a significant zone of 
the NCZ from the Inferred to Indicated category for use in the planned Pre 
-Feasibility Study. The drilling will also be testing for extensions of the 
nearby, high-grade Garth Daniel and Central Zones. 
  · The NCZ has a 2012 Inferred resource estimate of 9.4Mt at 1.27% Cu, plus 
minor Au, Ag, Zn and Pb credits (1.6% CuEq) - although very few holes were 
assayed for all the metals. A historical resource estimate by a prior operator 
from the early 1970's was >30Mt at 0.81% Cu, (not compliant) and did not include 
assays of any by-products. 
  · The 6 proposed holes could potentially provide multiple pierce points across 
the NCZ, the Garth Daniel Zone and the Central Zone, based on current 
interpretations. 
  · The proposed Muon Tomography survey at Parys Mountain has been redesigned 
and will now be conducted utilising the first completed drill hole in upcoming 
Northern Copper Zone infill program. 
  · Conducting the muon survey on this first drill hole, which is targeting a 
depth of 600 metres, will provide significantly greater coverage than the 
originally planned survey that would have utilised the 300-metre-deep Morris 
Shaft. 
 
Jo Battershill, Chief Executive of Anglesey Mining, commented: "We are very 
excited to see what the Northern Copper Zone drilling will deliver. The 
potential to upgrade portions of the resource into the Indicated category will 
provide significantly higher confidence going into the next round of mine 
designs and study work". 
 
"The delayed mobilisation of the drilling rig has enabled us to reschedule the 
overall work program, including a review of the proposed muon tomography survey. 
Our technical partner, Central Alliance, will now conduct the initial survey 
utilising the first 600 metre drill hole to be completed in the upcoming 
program. By using the deeper drill hole, the survey will ultimately provide 
significant additional coverage over and above the original plan of using the 
shallower Morris Shaft and will include the large disseminated Northern Copper 
Zone and the Garth Daniel and Central Zones, both of which consist of higher 
-grade massive sulphide zones. The identification of potential extensions to any 
of these zones would provide additional targets for future drilling programs." 
 
"In addition, we expect to receive the results from the White Rock and Engine 
Zone metallurgical testwork over the next month. This will also provide 
important information for the overall plant design." 
 
About Anglesey Mining plc 
 
Anglesey Mining is traded on the AIM market of the London Stock Exchange and 
currently has 420,093,017 ordinary shares on issue. 
 
Anglesey is developing its 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au deposit in 
North Wales, UK with a reported resource of 5.3 million tonnes at over 4.0% 
combined base metals in the Measured and Indicated categories and 10.8 million 
tonnes at over 2.5% combined base metals in the Inferred category. 
 
Anglesey also holds an almost 50% interest in the Grängesberg Iron project in 
Sweden, together with management rights and a right of first refusal to increase 
its interest to 100%. Anglesey also holds 12% of Labrador Iron Mines Holdings 
Limited, which through its 52% owned subsidiaries, is engaged in the exploration 
and development of direct shipping iron ore deposits in Labrador and Quebec. 
 
For further information, please contact: 
 
Anglesey Mining plc 
 
Jo Battershill, Chief Executive - Tel: [phone] 
 
John Kearney, Chairman - Tel: [phone] 
 
Davy 
 
Nominated Adviser & Joint Corporate Broker 
 
Brian Garrahy / Daragh O'Reilly - Tel: [phone] 
 
WH Ireland 
 
Joint Corporate Broker 
 
Katy Mitchell / Harry Ansell - Tel: [phone] 
 
LEI: 213800X8BO8EK2B4HQ71 
 
 
This information was brought to you by Cision http://news.cision.com 
https://news.cision.com/anglesey-mining-plc/r/parys-mountain---exploration-and-drilling-update,c3863321 
 
 
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October 26, 2023 04:48 ET (08:48 GMT)