Trading
Symbol
AIM:
AYM
27 August 2024
Anglesey
Mining plc
(“Anglesey”
or “the Company”)
Northern
Copper Zone and Garth Daniel Zone, update
At
Anglesey Mining plc's Parys Mountain property, mineralization
within the Northern Copper Zone (NCZ) has been traced by historical
mining and diamond drilling over a strike length of 1.2 kilometres.
The declared inferred resource for the NCZ is 9.38Mt containing
1.27%Cu, 0.38% Zn, 0.24%Pb, 5g/y Ag and 0.1g/t Au.
The
declared inferred resource of the Garth Daniel Zone (GDZ) is 0.34Mt
containing 1.89%Cu, 5.78%Zn, 2.76%Pb, 66g/t Ag and 0.1g/t
Au.
All three
holes in the 2023-2024 drilling program (NCZ001, NCZ002 and NCZ003)
intersected both broad zones of mineralisation and multiple
higher-grade zones. The sections below show that the drilling
demonstrated good continuity and further supports the integrity of
the geological model and drill targeting, with indications of
greater mineralised volumes overall.
Anglesey
Mining has recently received litho-geochemical results
for each of the three holes, from Activation Laboratories in
Canada. Interpretation of the
results has allowed the stratigraphic positions of the main ore
horizons to be further defined, improving the geological unit
correlations across the property. Work is on-going; however it is
already apparent that the latest holes intersected the same package
of rocks and styles of alteration and mineralization as interpreted
from previous drilling campaigns, which were subject to the same
litho-geochemical analysis.
Detailed
understanding of the lithology in each of the recently completed
holes will mean a new structural geological model can be
constructed and data supporting the model will additionally
leverage off all the previously completed exploration drilling that
has taken place into both the NCZ and the GDZ. Such a model would
be more detailed than the one that presently exists and could
provide valuable insights into the controls and distribution of the
various mineralized zones. It is expected that, once completed, the
model will be able to be extrapolated on a wider scale and used in
subsequent mine planning.
Rob Marsden, CEO of Anglesey Mining,
commented:
“Extracting
all of the data possible from the 2023-2024 drilling campaign and
interpreting it in context is a key part of the work being
undertaken at Parys Mountain and it is great to see this latest
dataset supporting and enhancing previous geological interpretation
of the deposit.”
Hole
NCZ001, at the 575.0m depth,
intercepted a high-grade veined polymetallic interval in the Garth
Daniel Zone (GDZ) which sits at a similar stratigraphic position to
high-grade GDZ mineralization in AMC15
(from the
2005-2006 drilling campaign)
The
semi-massive
sulphides in NCZ002, NCZ003 are as seen in hole AMC16
(also from
the 2005-2006 drilling campaign)
About Anglesey Mining plc:
Anglesey
Mining is traded on the AIM market of the London Stock Exchange and
currently has 461,593,017 ordinary shares in issue.
Anglesey
is developing the 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au VMS
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 a 49.75% interest in the Grängesberg iron ore project in
Sweden and 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.
Competent Person
The information in this announcement which relates to Drilling
Results has been approved by Mrs. Liz de
Klerk,
M.Sc., Pr.Sci.Nat., FIMMM who is a professional registered with the
South African Council for Natural Scientific Professionals
(SACNASP: 400090/08) and independent consultant to the Company.
Mrs. de Klerk is the Senior Geologist & Managing Director of
Micon International Co Limited and has over 20 continuous years of
exploration and mining experience in a variety of mineral deposit
styles. Mrs. de Klerk has sufficient experience which is relevant
to the style of exploration, mineralisation and type of deposit
under consideration and to the activity which she is undertaking to
qualify as a Competent Person as defined in the 2012 Edition of the
"Australasian Code for reporting of Exploration Results,
Exploration Targets, Mineral Resources and Ore Reserves" (JORC
Code). Mrs. de Klerk consents to inclusion in the announcement of
the matters based on this information in the form and context in
which it appears.
For
further information, please contact:
Anglesey
Mining plc
Rob Marsden, Chief Executive Officer – Tel: +44 (0)7531
475111
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
Zeus
Capital Limited
Joint
Corporate Broker
Katy Mitchell / Harry Ansell
– Tel: +44 (0)161 831 1512
LEI:
213800X8BO8EK2B4HQ71