Anglesey Mining Plc Parys Mountain - Northern Copper Zone Drilling Update

 
TIDMAYM 
 
[image] 
 
Trading Symbol 
 
AIM: AYM 
 
5th December 2023 
 
Anglesey Mining plc 
 
("Anglesey" or "the Company") 
 
Parys Mountain - Northern Copper Zone Drilling Update 
 
Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased 
to provide an update on the Northern Copper Zone drilling at the Company's Parys 
Mountain Cu-Zn-Pb-Ag-Au project, located on the Isle of Anglesey. 
 
Highlights 
 
  · Drilling of NCZ001 commenced on 27th October with a targeted end of hole 
depth at 650 metres. As at close of business on Sunday 3rd December, the hole 
was at a depth of 545 metres. We expect this first drill hole to be complete 
over the next week before moving onto NCZ002. 
  · Initial logging of NCZ001 suggests that sulphide mineralisation within the 
Northern Copper Zone commenced at a downhole depth of around 350 metres, in-line 
with the Company's modelled interpretation. Sulphides of varying amounts have 
been logged from 350 metres to the current depth. 
  · Drilling remained in the Northern Shale host of the Northern Copper Zone 
until around 400 metres downhole depth before transitioning into the intrusive 
rhyolites, both units contain varying degrees of sulphides. 
  · Cutting and sampling of core has already commenced with first samples 
expected to be delivered to the assay laboratory before the Christmas break, 
with results currently expected to be received during Q1 2024. 
 
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Jo Battershill, Chief Executive of Anglesey Mining, commented: "The initial core 
from the Northern Copper Zone would appear to be very encouraging on two fronts. 
Firstly, the geological model used to target the mineralised zones has been very 
accurate thus far; and secondly, we are seeing a significant amount of quartz 
veins within the system that we have interpreted to be the Northern Copper Zone. 
These quartz veins contain encouraging amounts of chalcopyrite, sphalerite, and 
galena - the key minerals that host copper, zinc and lead. The samples from this 
drill hole will be sent off to the assay laboratory as soon as possible and we 
look forward to potentially receiving the results during Q1 2024." 
 
"This current drilling program has been designed to infill some of the upper 
levels of the Northern Copper Zone to potentially upgrade the resource 
categorisation from Inferred to Indicated. This will allow the Northern Copper 
Zone to be included in the planned Pre-Feasibility Study and potentially lead to 
an optimised development scenario relative to that proposed in the 2021 
Preliminary Economic Assessment (PEA). We believe there is potential for the 
Northern Copper Zone to be accessed significantly quicker than envisaged in the 
PEA, which would bring meaningful levels of copper into the revenue stream much 
earlier than currently modelled." 
 
"We continue to believe The Northern Copper Zone at Parys Mountain has enormous 
potential. The original in-house resource estimate of over 30Mt back in 1970 
highlights just how extensive this zone of mineralisation is. This drilling is 
the first look at the deposit for many years and is providing very valuable 
information." 
 
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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