Parys exploration underway - project review continues


 
TIDMAYM 
 
Anglesey Mining plc 
 
2 December 2011 
 
Continuation of Parys Mountain Review 
 
Exploration activities underway 
 
  * New phase of site exploration activities commenced at Parys Mountain 
 
  * Review of development options for Parys project by Spring 2012 
 
Anglesey Mining plc (AYM:LSE) is pleased to announce that it has commenced a new 
phase of site exploration activities at its Parys Mountain site on the island 
of Anglesey, North Wales. These activities are part of the first stage in a 
review of the development options available for the Parys Mountain project. 
 
Parys Mountain in which Anglesey Mining holds a 100% interest is a 
copper-zinc-lead project with historical resources of 7 million tonnes at over 
9% combined metal. 
 
This first stage includes an Induced Polarisation (IP) geophysical survey and 
an associated Deep Overburden (DOB) geochemical survey. This work is targeting 
the potential sub-outcrop location of the Engine Zone mineralisation. The 
Engine Zone has been shown to be a major resource bearing structure in the area 
around the bottom of the Morris shaft at some 300 to 400 metres below surface. 
It has been traced up-dip to a depth of about 200 metres and the present 
programme is aimed at determining its location closer to surface. This current 
work is expected to be completed within one week and the analysis and review of 
the resulting data will be available shortly thereafter. 
 
The second stage will involve a diamond drilling program targeting the Engine 
Zone above the 200 metre level. The initial drilling programme will consist of 
4 holes totalling around 800 metres of drilling, and depending upon results 
obtained, a further six to eight holes for an additional 1,200 metres of 
drilling could follow. This drilling program is expected to commence within a 
month. 
 
The location of the Engine Zone at these shallower locations is likely to be 
close to the shallow White Rock zone which was identified during a drilling 
programme which took place between 2006 and 2008. If this zone extension can be 
identified then the economics of a relatively small decline-based mining 
operation on both the White Rock and shallow Engine Zones will be much 
enhanced. Consultants Micon International carried out a scoping study on the 
White Rock concept in 2007. Planning permission for a decline and mining in this 
vicinity and for the operation of a processing plant adjacent to the decline 
portal remains in place. 
 
In parallel with the drilling programme a review of the current options 
available for the development of Parys Mountain will be carried out. This 
review will initially concentrate on near term alternatives including the 
shallow White Rock and Engine zones but could be expanded to include the entire 
resource base and exploration potential at Parys Mountain. The results from 
this review will be expected by spring 2012 and will provide sufficient 
information to enable the future development plan for the project to be 
determined. In addition these results will provide guidance on the best 
commercial route for such development and the extent of any third party 
technical and financial input that may be required. 
 
Investor activities 
 
Anglesey Mining plc will be exhibiting at this year's Mines and Money Show at 
the Business Design Centre in Islington on Tuesday and Wednesday 6 and 7 
December from 8.30am to 5.000pm. Any shareholders wishing to visit us on stand 
B9 will be welcome. 
 
Investors or potential investors are also warmly invited to attend our One2One 
Investor Forum at the Chesterfield Mayfair Hotel in London on Thursday 8 
December from 6pm where the chief executive Bill Hooley will be making a 
presentation. Please contact events@proactiveinvestors.com for further details 
of this event. 
 
For further details: 
 
Bill Hooley, Chief Executive                                    01492 541981 
Ian Cuthbertson, Finance Director                               01248 361333 
 
Ambrian Partners, Samantha Harrison/Shaun Whyte                 020 763 44700 
 
Tavistock Communications, Emily Fenton/Jos Simson               020 7920 3155 
 
 
 
END
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