27th April 2022
Anglesey Mining
plc
(“Anglesey” or
“the Company”)
Appointment of
Canaccord Genuity as Joint Broker and Corporate Update
Anglesey Mining plc (AIM:AYM), the UK minerals development
company, continues to advance work programmes at both its Parys
Mountain Cu-Zn-Pb-Ag-Au VMS project on the Isle of Anglesey in
north-west Wales and its
Grängesberg iron ore project in Sweden.
Anglesey is also pleased to announce that Canaccord Genuity
Limited has been appointed as Joint Broker with immediate
effect.
Parys Mountain Cu-Zn-Pb-Ag-Au
Project
- Infill drilling programme at Parys Mountain is expected to be
completed over the next week
- First of the ten drill holes have been logged, sampled, cut and
dispatched for assaying, with results expected towards the end of
the June quarter
- Acoustic televiewing of drill holes has been completed, with
data to be used in defining geotechnical domain model to assist
with mine optimisation studies
- Metallurgical testwork is expected to commence once assay
results have been received
- Environmental studies that are expected to form part of the
permitting process have begun, with baseline surveys commencing
last week
- Design work for the tailings storage facility is also expected
to commence in the coming weeks
Grängesberg Iron Ore Project
- The Grängesberg Pre-Feasibility Study Update is nearing
completion with our consultant, Micon International, currently
completing the product marketing studies and financial
modelling.
Jo Battershill, Chief
Executive of Anglesey Mining, commented: “We are very
pleased to have Canaccord now working alongside Anglesey. Canaccord
continues to demonstrate its strength in the global natural
resources space, and we look forward to working with the
team.”
“With the AIM admission process
successfully completed, we now look forward to focusing on our key
development projects. The progress at Parys Mountain since the
drilling commenced in November has been very encouraging and we
look forward to moving into the next stages of pre-development
work. This work will include optimising mine designs, confirmatory
metallurgical and pre-concentration testwork, tailings storage
facility design work and environmental and permitting
activities.”
“We expect to receive the Grängesberg
PFS Update over the next few weeks. Once received, we will be well
positioned to design and plan the next stages of work programmes
for the project. The combination of elevated iron ore prices and
supply shocks from the tragedy unfolding in Ukraine, has provided a very strong backdrop
and strategic positioning for the Grängesberg Project.”
About Anglesey Mining plc
Anglesey Mining is traded on the AIM market of the London Stock
Exchange and currently has 248,070,732 ordinary shares on
issue.
Anglesey is developing its 100% owned Parys Mountain
Cu-Zn-Pb-Ag-Au 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 holds an almost 20% interest in the Grangesberg Iron
project in Sweden, together with
management rights and a right of first refusal to increase its
interest to 70%. 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
John Kearney, Chairman – Tel: +1
416 362 6686
Jo Battershill, Chief Executive –
Tel: +44 (0)7540 366000
Davy
Nominated Adviser & Joint Company
Broker
John Frain – Tel: +353 1 679
6363
Canaccord Genuity Limited
Joint Company Broker
James Asensio / Harry Rees – Tel: +44 (0) 20 7523 8000
Scout Advisory Limited
Investor Relations Consultant
Sean Wade – Tel: +44 (0) 7464
609025
LEI: 213800X8BO8EK2B4HQ71