Trading Symbol
LSE: AYM
26 November
2021
Anglesey Mining
plc
(“Anglesey” or
“the Company”)
Drilling commences
at Parys Mountain
Anglesey Mining plc (LSE:AYM), the UK minerals exploration and
development company, is pleased to provide the following update on
its Parys Mountain Copper-Lead-Zinc project on the Isle of
Anglesey.
Highlights
- A nine-hole diamond drill programme of 2,750 metres has now
commenced. It is anticipated that this programme will take around
3-months to complete.
- The programme has been designed to gather additional
information that will feed into a Feasibility Study, which is
expected to commence in 2022. Key information to be collected from
this current drilling includes:
- Infill drilling of the White Rock Zone to convert the remaining
Inferred resource category material to the Indicated category.
Currently, around 78% of the White
Rock resource is in the Indicated category.,
- Provide geotechnical information to enable domain modelling for
the mine design; and,
- Allow for additional metallurgical testwork from both the
Engine Zone and White Rock Zone
- The Company has also recently expanded its workforce with a
Site Manager for the Parys Mountain project and a Geologist
commencing employment.
- Environmental consultants have now been engaged and recently
commenced their evaluation of historical baseline studies that will
feed into a subsequent gap analysis to determine future permitting
requirements.
- Additionally, initial discussions have been had with
metallurgical consultants regarding testwork to be conducted in
2022, which is targeting improved recoveries on both the lead and
gold streams.
Jo Battershill, Chief
Executive of Anglesey Mining, commented: “We were very
pleased to see the Irish Drilling rig arrive on site yesterday and
now look forward to seeing core coming out of the White Rock and Engine Zone deposits over the
next three months. We would expect to have results coming back from
the assay labs during the March quarter next year.
It is also very encouraging to have
commenced the next stage of the environmental permitting process
for Parys Mountain given the potential lead times involved with
these activities.
Without doubt, the next year is
shaping up to be a busy period for Anglesey Mining with activities
at Parys Mountain moving up a gear and the PFS update for
Grängesberg now underway. Recent investor marketing has
demonstrated that the Parys Mountain project is significantly more
advanced than has been generally understood. The project has a
large resource with significant infrastructure in place both
locally and regionally and continues to receive strong support from
the local community”.
About Anglesey Mining plc
Anglesey Mining is listed on the London Stock Exchange and
currently has 248,070,732 ordinary shares on issue.
Anglesey is developing its 100% owned Parys Mountain
copper-zinc-lead deposit in North
Wales, UK with a 2020 reported resource of 5.2 million
tonnes at 4.3% combined base metals in the Indicated category and
11.7 million tonnes at 2.8% combined base metals in the Inferred
category.
Anglesey has an almost 20% interest, and management rights to the
Grangesberg Iron project in Sweden, together with a right of first refusal
to increase its interest by a further 50.1%. Anglesey also
holds 12% of Labrador Iron Mines Holdings Limited which has direct
shipping iron ore deposits in Labrador and Quebec.
For further information, please
contact:
Jo Battershill, CEO +44 (0)7540
366000
John Kearney, Chairman + 1 416
362 6686
LEI: 213800X8BO8EK2B4HQ71