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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Angus&Ross | LSE:AGU | London | Ordinary Share | GB0009348862 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3066K Angus & Ross PLC 12 October 2006 12th October 2006 Angus & Ross PLC Further Assay Results from Black Angel Drilling Programme * 632 samples from 2006 drilling programme assayed, 71 results pending * Mineralized intersections encountered in 42 out of 44 Glacier Zone drill holes and 11 out of 15 Ark Zone drill holes * High grade sulphide intersections of considerable thickness encountered, e.g. hole 06GLA037 grading 2.7% lead and 7.9% zinc over 13.62 metres * Geological modelling work commencing and civil engineering tenders in course of preparation Angus & Ross PLC (AGU) ("Angus & Ross" or the "Company") is pleased to announce the third set of assay results from this summer's drilling programme at its Black Angel zinc/lead property in West Greenland. The half-core testing programme run by ALS Chemex in Vancouver has been completed, with 632 samples having been tested. A further 71 samples, including bulk samples, channel samples and whole core samples will be assayed at the laboratory of Wardell Armstrong International ("WAI") in Cornwall as part of the metallurgical testing programme. Of particular interest will be the results from dense media separation test work, as it is believed that the new deposits may be amenable to low cost upgrading prior to concentrate flotation. A revised resource estimate incorporating the results of the new discoveries will be prepared by WAI and is expected in November; geological modelling work has already commenced. From a preliminary assessment of the results, it appears that resources amenable to open pit mining are being defined at both the Glacier and ARK deposits, part of which could possibly produce early cash flow. However, most of the Glacier Zone would have to be mined by underground methods. Experienced civil engineering contractors visited the property in September and the Company awaits specific quotes for the construction of access roads to both the Glacier and ARK deposits from the top end of the Nunngarut tunnel which leads down to sea level. These quotations will form part of the feasibility study planned to commence later this year. Drilling Results from the Black Angel zinc/lead project in Greenland (Batch 5 and 6 - best intersections) Hole Eastings Northings From Intercept Pb Zn Ag UTM 22 UTM W (m) (m) (m) (m) (%) (%) (g/t) ARK Prospect (15 holes drilled, results pending from 1 hole) 06ARK012 501 478 7 887 486 63.00 7.53 0.2 6.2 2.4 06ARK013 501 478 7 887 486 58.68 1.04 0.3 5.6 3.0 Glacier Prospect (44 holes drilled, no results pending) 06GLA019 500 587 7 889 873 241.32 6.54 2.6 6.1 48.9 Including 0.86m at > 25% Zn 06GLA023 500 605 7 889 940 164.64 3.83 0.8 4.1 5.1 06GLA033 500 650 7 889 902 126.40 0.35 1.5 7.8 11.0 06GLA033 500 650 7 889 902 165.24 0.41 1.7 10.5 21.0 06GLA034 500 650 7 889 902 174.80 1.77 3.5 4.2 17.6 06GLA035 500 650 7 889 902 186.80 2.27 6.7 17.5 27.3 Including 1.41m at > 22% Zn 06GLA036 500 744 7 889 948 63.90 0.32 0.0 25.3 2.0 06GLA036 500 744 7 889 948 91.39 0.29 11.6 18.4 100.0 06GLA037 500 852 7 889 936 28.08 4.45 4.0 11.0 17.3 Including 1.36m at > 27% Zn 06GLA037 500 852 7 889 936 35.43 6.27 3.0 8.8 29.2 Including 0.92m at 32.1% Zn 06GLA038 500 900 7 889 991 38.97 2.71 2.5 6.8 17.0 Including 0.21m at > 30% Zn 06GLA040 501 100 7 889 884 62.60 1.28 2.6 6.5 14.0 06GLA042 501 151 7 889 884 36.65 1.25 2.2 7.3 18.6 Robin Andrews, Chairman of Angus & Ross, commented: "I am pleased that this third and final set of assay results, mainly from the Glacier discovery, continues to return the high grades shown in the previously announced results. We now look forward to the results of the current metallurgical testing programme and a preliminary resource statement presently being compiled by the company's consultants." Angus & Ross PLC Robin Andrews, Chairman Tel: +44-1751 430 988 Andrew Zemek, Chief Executive, Black Angel Mining Ltd Tel: +44-7850 755 450 NB: This release has been approved by the Company's technical staff who include Dr Bob Dowdell, Director of Black Angel Mining Ltd, who holds a BSc and Doctorate in Mining Engineering from Newcastle University, is a Chartered Engineer, and Member of The Institution of Mining and Metallurgy, in accordance with the recent Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in respect of AIM companies, which outlines standards of disclosure for mineral projects. This information is provided by RNS The company news service from the London Stock Exchange END STRDGMMGZMNGVZM
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