Anglesey Mining Plc Parys Mountain - Positive Preliminary Results from Metallurgical Testwork

 
TIDMAYM 
 
[image] 
 
Trading Symbol 
 
AIM: AYM 
 
4th December 2023 
 
Anglesey Mining plc 
 
("Anglesey" or "the Company") 
 
Parys Mountain - Positive Preliminary Results from Metallurgical Testwork 
 
Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased 
to report that it has received preliminary results from the metallurgical 
testwork on the White Rock and Engine Zones at the Company's Parys Mountain Cu 
-Zn-Pb-Ag-Au project, located on the Isle of Anglesey. 
 
In June, the Company dispatched a 340kg sample to Grinding Solutions Limited 
(GSL) comprising a blend of material from both the White Rock and Engine Zones 
with a combined head-grade of 0.42% Cu, 3.60% Zn, 3.08% Pb, 49g/t Ag and 0.7g/t 
Au (10.8% ZnEq). The blend was 3.3 (White Rock) to 1.0 (Engine Zone), similar to 
the contribution that is expected to be delivered from the mine in the early 
years of production, prior to the Northern Copper Zone commencing. 
 
Highlights 
 
  · Two pre-concentration methods were conducted - Dense Media Separation (DMS) 
undertaken by Pesco and X-Ray Transmission sorting (XRT) completed by TOMRA. One 
element of the testwork was to determine the optimal process to take forward 
into the Pre-Feasibility Study. 
  · Both methods demonstrated that a successful pre-concentration stage would be 
applicable with the overall base metals only head-grade increasing from 7.5% 
ZnEq to 11.4% ZnEq from the DMS (+52%) and 11.7% ZnEq from the XRT (+55%) - 
results will be updated once the gold and silver numbers are finalised - the 
precious metals are expected to add 3-4% to the ZnEq grade. The preliminary 
results are tabulated below: 
 
+---------------+------+------+------+--------+------------------+------------- 
-+ 
|               |Zn (%)|Pb (%)|Cu (%)|ZnEq (%)|Mass Rejection (%)|Metal Loss 
(%)| 
+---------------+------+------+------+--------+------------------+------------- 
-+ 
|Original Sample|3.6   |3.1   |0.42  |7.5     |-                 |- 
| 
+---------------+------+------+------+--------+------------------+------------- 
-+ 
|DMS Results    |6.4   |3.8   |0.60  |11.4    |35                |5.2 
| 
+---------------+------+------+------+--------+------------------+------------- 
-+ 
|XRT Results    |6.4   |3.7   |0.70  |11.7    |29                |3.0 
| 
+---------------+------+------+------+--------+------------------+------------- 
-+ 
 
  · Preliminary results from the locked-cycle flotation testwork demonstrated 
higher recoveries than those achieved in historical testing. These results are 
based on calibrated pXRF readings with the full wet chemistry expected over the 
coming 2-3 weeks. The results are tabulated below: 
 
+-------------+--------+--------+--------+--------+--------+--------+--------+-- 
------+ 
|             |Cu Concentrate   |Zn Concentrate   |Pb Concentrate   |Au 
Concentrate   | 
+-------------+--------+--------+--------+--------+--------+--------+--------+-- 
------+ 
|             |Cu Grade|Recovery|Zn Grade|Recovery|Pb Grade|Recovery|Au 
Grade|Recovery| 
+-------------+--------+--------+--------+--------+--------+--------+--------+-- 
------+ 
|PEA Estimates|21.8    |56      |56.2    |82      |51.8    |76      |n/a     |40 
| 
+-------------+--------+--------+--------+--------+--------+--------+--------+-- 
------+ 
|GSL Testwork |31.5    |74      |50.7    |86      |56.4    |80      |300     |65 
| 
+-------------+--------+--------+--------+--------+--------+--------+--------+-- 
------+ 
|Difference   |        |+32%    |        |+5%     |        |+5%     | 
|+63%    | 
+-------------+--------+--------+--------+--------+--------+--------+--------+-- 
------+ 
 
  · Testwork with regards to net acid generation, settling rates and contact 
leaching on the tailings is ongoing with results expected over the next 2-3 
weeks. In addition, GLS will also be completing a diagnostic leach test on the 
final zinc tailings to ensure optimal recovery of gold. 
 
Jo Battershill, Chief Executive of Anglesey Mining, commented: "We are very 
pleased by the preliminary results from the metallurgical testwork on the White 
Rock and Engine Zones, which have demonstrated that the assumptions used in the 
2021 PEA are potentially on the conservative side. The results show that the 
overall metal recoveries appear to be better than expected, particularly for 
both copper and gold. It is also very positive to confirm that the Parys 
Mountain deposit is amenable to both DMS and XRT pre-concentration methods with 
the potential feed grade increased by over 50%." 
 
"Successful pre-concentration has many benefits ranging from increased feed 
grade into the processing plant, lower volumes of tailings for disposal and the 
potential to build smaller, lower cost processing infrastructure. We will now 
look to investigate the relevant capital and operating costs for each option to 
determine which is the most optimal route to move forward with in the planned 
Pre-Feasibility Study." 
 
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: +44 (0)7540 366000 
 
Andrew King, Interim-Chairman - Tel: +44 (0)7825 963700 
 
Davy 
 
Nominated Adviser & Joint Corporate Broker 
 
Brian Garrahy / Daragh O'Reilly - Tel: +353 1 679 6363 
 
WH Ireland 
 
Joint Corporate Broker 
 
Katy Mitchell / Harry Ansell - Tel: +44 (0) 207 220 1666 
 
LEI: 213800X8BO8EK2B4HQ71 
 
 
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END
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