Anglesey Mining PLC Drilling commences at Parys Mountain

 
TIDMAYM 
 
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 
 
 
 
END

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November 26, 2021 02:00 ET (07:00 GMT)

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