Anglesey Mining PLC Final assay results from Parys Mountain 2022 drilling
October 20 2022 - 2:00AM
UK Regulatory
TIDMAYM
Trading Symbol
AIM: AYM
20th October 2022
Anglesey Mining plc
("Anglesey" or "the Company")
Final assay results from Parys Mountain 2022 drilling
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.
Following the announcements on 14th June and 15th July 2022 regarding assay
results, Anglesey is now pleased to announce that the final round of assay
results have been received from the 2022 infill drilling programme at Parys
Mountain.
Parys Mountain Cu-Zn-Pb-Ag-Au Project
* The final two holes of the programme recorded multiple broad intercepts and
continue to highlight that the White Rock and Engine Zones represent an
extensive mineralised system.
* Significant intersections include:
+ Hole WD-24 from 239.4m - 1.5m at 1.4% Cu, 9.7% Zn, 6.2% Pb, 187g/t Ag &
2.7g/t Au (7.1% CuEq/19.9% ZnEq)1
+ Hole WD-24 from 262.94m - 28.96m at 3.3% Zn, 1.7% Pb, 0.5% Cu, 71g/t Ag
& 0.9g/t Au (2.3% CuEq/6.5% ZnEq)1 including:
o 13m at 5.2% Zn, 2.6% Pb, 0.6% Cu, 100g/t Ag & 1.6g/t Au (3.6% CuEq/
10.1% ZnEq)1
o 5.1m at 4.0% Zn, 2.3% Pb, 0.9% Cu, 118g/t Ag & 0.4g/t Au (3.0% CuEq
/8.4% ZnEq)1
+ Hole WD-23 from 93m - 143.92m at 0.9% Zn, 0.5% Pb, 0.2% Cu, 9g/t Ag &
0.2g/t Au (0.6% CuEq/1.6% ZnEq)1 including:
o 7.1m at 3.5% Zn, 2.7% Pb, 0.5% Cu, 25g/t Ag & 0.2g/t Au (2.1% CuEq/
5.9% ZnEq)1
* With all assays now received, the Company will select samples from the 10
drill holes for the metallurgical testwork programme. This will provide a
trade-off study between the Dense Media Separation (DMS) and X-Ray
Transmission (XRT) ore sorting pre-concentration methods. Historical DMS
studies from 2007 demonstrated a 40% mass rejection of waste with only 3-5%
metal losses. The metallurgical programme will also include testwork on
potential tailings to feed into the next round of tailings management
design work.
* Anglesey will immediately commence an update to the Mineral Resource
Estimate for the White Rock and Engine Zones to incorporate the additional
information from the recent infill drill programme.
* In other ongoing workstreams at Parys Mountain:
+ Conceptual tailings management studies have demonstrated that the Parys
Mountain site has sufficient capacity to hold all the tailings that
would be produced under the largest production scenario of 3,000tpd, as
detailed in the Preliminary Economic Assessment published in January
2021. The Company plans to embark on the initial tailings design
programme subsequent to receiving the metallurgical testwork on the
expected tailings product.
+ The geotechnical work on the White Rock deposit is ongoing. Our
consultant, Knight Piésold, has collected all the data to assess the
rock mass characteristics and complete basic ground model development.
Once complete, this data will feed into the mine design to maximise
mining spans and assess ground control requirements for underground
mining.
+ Permitting and planning activities have continued after further
consultations with the North Wales Minerals and Waste Planning Service.
The next steps for this process include the scoping of the
Environmental Impact & Social Assessment report. These activities
remain ongoing.
Jo Battershill, Chief Executive of Anglesey Mining, commented: "With the final
encouraging assay results now received, we can move onto the next round of
workstreams for Parys Mountain. As previously highlighted, core will be sent to
Grinding Solutions to conduct pre-concentration studies on representative
samples from areas that are likely to be mined. We believe that the ability to
selectively remove the unmineralized material would have a significant positive
economic impact for the ongoing development studies."
"Additionally, the intention of the recent drilling programme was to increase
the resources in the Indicated category for the White Rock deposit, which stood
at 4.7Mt, or 79% prior to commencing the drilling. Given the results have now
all been received, we will look to update the Mineral Resource Estimate."
"In other areas, we continue to progress the surveys required for the
environmental baseline work and we will soon commence the initial design work
for the tailings management facility. Both aspects are critical to progressing
Parys Mountain through the permitting phase. Meanwhile, work on advancing the
Northern Copper Zone is progressing well. As part of this process, Anglesey's
team has reviewed the historical drilling and resource model of the Northern
Copper Zone with the aim of identifying prospective areas that would optimise
future drilling programmes. We will focus on the zones that could have the most
immediate impact on the mine design and production schedule. Historical
drilling and internal reviews would suggest that the Northern Copper Zone could
be significantly larger than the current resource estimate suggests, but
additional drilling will be required to confirm this potential."
Drill hole details
Hole ID Co-ordinates Elevation Azimuth Dip End of Hole
(E) (m) (°) (°) (m)
(N)
AMC-26 43289 90287 115 248 -63 303
WD-16 43154 90228 98 126 -65 179.6
WD-17 43170 90198 103 126 -65 124
WD-18 43154 90304 96 126 -65 218
WD-19 43154 90304 96 123 -50 201
WD-20 43167 90334 96 116 -52 206.5
WD-21 43167 90334 96 126 -65 224.5
WD-22 43209 90385 94 115 -55 191
WD-23 43209 90383 94 140 -73 243
WD-24 43172 90194 102 90 -88 331.5
Reported Assays
The following tables report the assay results from Holes WD-23 and WD-24. Assay
results from other holes previously reported See Anglesey RNS's dated 14 June
2022 and 15 July 2022.
Hole From To Sample Assays
Number Length
(m) (m) (m) Cu Zn Pb Ag Au ZnEq
(%) (%) (%) (g/t) (%)1
(g/t)
WD-23 93 95 2.00 0.05 0.44 0.26 2.6 0.10 0.73%
WD-23 95 97 2.00 0.10 0.98 0.63 3.6 0.03 1.42%
WD-23 97 99 2.00 0.08 0.78 0.63 4.0 0.06 1.27%
WD-23 99 101 2.00 0.13 0.67 0.39 6.6 0.08 1.17%
WD-23 101 103 2.00 0.54 1.30 0.54 10.4 0.07 2.38%
WD-23 103 105 2.00 0.30 3.58 2.91 19.6 0.11 5.63%
WD-23 105 107 2.00 0.15 0.92 0.56 6.7 0.06 1.48%
WD-23 107 109 2.00 0.17 0.40 0.18 7.8 0.03 0.84%
WD-23 109 111 2.00 0.23 1.86 0.49 7.9 0.09 2.38%
WD-23 111 113 2.00 0.17 1.08 0.40 12.3 0.25 1.85%
WD-23 113 115 2.00 0.21 0.40 0.18 12.8 0.23 1.19%
WD-23 115 117 2.00 0.06 0.08 0.04 7.6 0.11 0.42%
WD-23 117 119 2.00 0.04 0.09 0.01 3.1 0.03 0.23%
WD-23 119 119.87 0.87 0.05 0.04 0.01 2.5 0.06 0.22%
WD-23 119.87 121.87 2.00 0.21 0.04 0.02 4.7 0.09 0.51%
WD-23 121.87 123.87 2.00 0.17 0.60 0.24 5.6 0.11 1.09%
WD-23 123.87 125.64 1.77 0.27 1.18 1.36 11.0 0.12 2.50%
WD-23 125.64 126.64 1.00 0.87 7.33 6.32 41.9 0.31 12.20%
WD-23 126.64 127.36 0.72 0.48 7.00 3.67 35.2 0.27 9.60%
WD-23 127.36 128.04 0.68 0.23 0.92 0.49 23.1 0.16 1.96%
WD-23 128.04 129 0.96 0.67 8.59 6.60 36.0 0.26 12.99%
WD-23 129 131 2.00 0.49 0.81 0.46 21.6 0.21 2.22%
WD-23 131 133 2.00 0.04 0.04 0.02 2.5 0.08 0.22%
WD-23 133 135 2.00 0.09 0.18 0.06 2.8 0.08 0.43%
WD-23 135 136 1.00 0.05 0.11 0.05 4.1 0.10 0.37%
WD-23 136 137 1.00 0.33 0.59 0.34 7.2 0.11 1.38%
WD-23 137 138 1.00 0.05 0.10 0.04 4.0 0.14 0.39%
WD-23 138 139 1.00 0.37 0.18 0.05 5.8 0.11 0.89%
WD-23 139 140 1.00 0.06 0.08 0.01 5.0 0.14 0.39%
WD-23 140 141 1.00 0.07 0.02 0.01 7.2 0.21 0.47%
WD-23 141 142 1.00 0.00 0.01 0.01 2.9 0.11 0.20%
WD-23 142 143 1.00 0.01 0.06 0.02 2.7 0.09 0.22%
WD-23 143 144 1.00 0.25 0.23 0.20 11.2 0.16 1.03%
WD-23 144 145 1.00 0.04 0.06 0.02 4.5 0.12 0.33%
WD-23 145 146 1.00 0.09 0.13 0.05 5.0 0.13 0.48%
WD-23 146 147 1.00 0.01 0.03 0.01 2.1 0.07 0.15%
WD-23 147 148 1.00 0.08 0.07 0.03 5.0 0.14 0.41%
WD-23 148 149 1.00 0.04 0.03 0.02 4.3 0.10 0.28%
WD-23 149 150 1.00 0.06 0.13 0.03 3.8 0.10 0.38%
WD-23 150 151 1.00 0.04 0.04 0.02 3.5 0.13 0.30%
WD-23 151 152 1.00 0.03 0.23 0.07 5.0 0.11 0.47%
WD-23 152 153 1.00 0.07 0.09 0.06 4.3 0.14 0.43%
WD-23 153 154 1.00 0.09 0.16 0.04 2.8 0.12 0.45%
WD-23 154 155 1.00 0.11 0.57 0.16 4.2 0.14 0.94%
WD-23 155 156 1.00 0.08 0.74 0.32 4.5 0.16 1.17%
WD-23 156 157.29 1.29 0.21 1.64 0.94 7.7 0.18 2.53%
WD-23 157.29 159.29 2.00 0.41 2.22 0.97 24.7 0.53 3.98%
WD-23 159.29 161.29 2.00 0.21 0.30 0.15 9.2 0.23 1.03%
WD-23 161.29 163.29 2.00 0.27 0.80 0.35 8.0 0.11 1.49%
WD-23 163.29 165.29 2.00 0.07 0.78 0.47 4.6 0.08 1.19%
WD-23 165.29 167.29 2.00 0.03 0.26 0.10 3.5 0.10 0.48%
WD-23 167.29 169.29 2.00 0.04 0.46 0.17 6.3 0.14 0.80%
WD-23 169.29 171.29 2.00 0.08 0.72 0.33 7.4 0.16 1.21%
WD-23 171.29 173.29 2.00 0.14 0.86 0.62 10.2 0.18 1.65%
WD-23 173.29 175.29 2.00 0.12 0.45 0.29 8.6 0.20 1.07%
WD-23 175.29 177.29 2.00 0.11 0.71 0.51 9.4 0.21 1.43%
WD-23 177.29 179.29 2.00 0.11 0.72 0.35 8.6 0.28 1.41%
WD-23 179.29 181.29 2.00 0.05 0.68 0.27 9.3 0.31 1.28%
WD-23 181.29 182.22 0.93 0.03 0.18 0.07 5.0 0.11 0.43%
WD-23 182.22 184.22 2.00 0.06 0.34 0.13 9.2 0.20 0.82%
WD-23 184.22 185.62 1.40 0.04 0.46 0.32 7.7 0.14 0.92%
WD-23 186.62 186.67 0.05 0.03 0.46 0.14 2.5 0.10 0.64%
WD-23 186.67 187.53 0.86 0.41 5.03 2.00 38.7 0.17 6.81%
WD-23 187.53 188.13 0.60 0.19 3.70 1.44 21.8 0.17 4.75%
WD-23 188.13 189.13 1.00 0.31 1.10 1.01 16.4 0.23 2.48%
WD-23 189.13 190.13 1.00 0.22 1.08 0.39 15.3 0.27 1.97%
WD-23 190.13 191.13 1.00 0.32 1.12 0.54 18.8 0.20 2.24%
WD-23 191.13 192.13 1.00 0.22 0.88 0.35 19.8 0.62 2.24%
WD-23 192.13 192.94 0.81 0.45 0.79 0.34 13.4 0.20 1.91%
WD-23 192.94 194.94 2.00 0.11 0.66 0.27 7.2 0.18 1.18%
WD-23 194.94 196.94 2.00 0.07 0.23 0.11 3.9 0.09 0.51%
WD-23 196.94 198.94 2.00 0.19 0.89 0.31 9.1 0.21 1.56%
WD-23 198.94 200.94 2.00 0.12 1.70 1.09 11.2 0.15 2.60%
WD-23 200.94 202.94 2.00 0.10 0.87 0.34 9.4 0.10 1.33%
WD-23 202.94 204.94 2.00 0.17 1.43 0.46 8.9 0.11 1.96%
WD-23 204.94 206.94 2.00 0.06 0.90 0.63 6.6 0.12 1.45%
WD-23 206.94 208.94 2.00 0.08 1.11 0.37 7.4 0.15 1.54%
WD-23 208.94 210.94 2.00 0.13 1.68 0.74 9.0 0.20 2.38%
WD-23 210.94 212.94 2.00 0.07 0.81 0.38 5.8 0.19 1.30%
WD-23 212.94 214.94 2.00 0.05 0.63 0.30 4.7 0.19 1.05%
WD-23 214.94 216.94 2.00 0.11 0.80 0.40 7.4 0.19 1.38%
WD-23 216.94 218.94 2.00 0.13 1.33 0.93 9.8 0.16 2.18%
WD-23 218.94 220.94 2.00 0.18 0.61 0.30 13.3 0.23 1.41%
WD-23 220.94 222.94 2.00 0.07 0.53 0.20 6.8 0.21 0.99%
WD-23 222.94 224.94 2.00 0.15 0.91 0.40 11.9 0.26 1.68%
WD-23 224.94 226.94 2.00 0.16 1.52 0.70 12.9 0.24 2.38%
WD-23 226.94 228.94 2.00 0.10 1.02 0.54 11.9 0.45 1.99%
WD-23 228.94 230.94 2.00 0.08 0.98 0.47 11.7 0.38 1.81%
WD-23 230.94 232.94 2.00 0.07 0.65 0.35 9.7 0.21 1.23%
WD-23 232.94 234.94 2.00 0.13 0.73 0.34 17.1 0.70 2.01%
WD-23 234.94 236.92 1.98 0.13 1.89 0.86 17.0 0.30 2.88%
Total 142.92m
WD-24 188.79 189.13 0.34 0.39 14.20 7.38 64.7 16.20 34.51%
WD-24 208.39 210.31 1.92 0.19 1.19 0.63 64.8 0.51 3.34%
WD-24 238.5 239.42 0.92 0.64 5.01 3.59 77.9 3.19 11.90%
WD-24 239.42 239.98 0.56 2.69 17.50 10.40 365 1.94 33.14%
WD-24 262.94 264.11 1.17 0.35 1.53 1.03 24.8 0.40 3.22%
WD-24 264.11 265.11 1.00 0.37 1.96 1.25 27.9 0.45 3.86%
WD-24 265.11 266.11 1.00 0.22 1.52 0.68 24.8 0.38 2.80%
WD-24 266.11 266.74 0.63 0.40 3.04 1.59 56.4 0.63 5.70%
WD-24 266.74 267.91 1.17 1.45 14.90 7.80 248 5.28 28.98%
WD-24 267.91 268.91 1.00 0.84 7.13 3.47 290 3.92 18.47%
WD-24 268.91 269.91 1.00 2.38 18.60 8.25 219 3.87 31.57%
WD-24 269.91 270.91 1.00 0.38 3.35 1.74 158 1.07 8.34%
WD-24 270.91 271.91 1.00 0.47 5.28 3.11 69.9 2.19 10.42%
WD-24 271.91 272.91 1.00 0.10 1.27 0.52 15.5 0.23 2.02%
WD-24 272.91 273.91 1.00 0.24 2.90 1.36 34.5 0.35 4.54%
WD-24 273.91 274.91 1.00 0.06 1.00 0.61 11.5 0.24 1.74%
WD-24 274.91 275.91 1.00 0.31 3.06 1.71 85.4 0.57 6.13%
WD-24 275.91 276.91 1.00 0.06 0.38 0.21 20.5 0.28 1.18%
WD-24 276.91 277.91 1.00 0.04 0.31 0.12 13.8 0.21 0.84%
WD-24 277.91 278.91 1.00 0.06 0.42 0.20 22.4 0.26 1.23%
WD-24 278.91 279.91 1.00 0.13 0.82 0.36 22.9 0.46 1.96%
WD-24 279.91 280.34 0.43 1.39 10.00 4.37 138 3.23 18.62%
WD-24 280.34 282.34 2.00 0.03 0.15 0.06 6.8 0.10 0.43%
WD-24 282.34 284.34 2.00 0.01 0.02 0.02 5 0.04 0.16%
WD-24 284.34 286.81 2.47 0.01 0.03 0.04 6.3 0.03 0.20%
WD-24 286.81 287.81 1.00 0.84 4.11 2.25 123 0.11 8.28%
WD-24 287.81 288.81 1.00 1.40 4.64 3.50 152 0.17 10.83%
WD-24 288.81 289.81 1.00 0.52 2.85 1.74 87.9 0.11 5.85%
WD-24 289.81 290.42 0.61 2.19 9.79 4.49 261 0.36 18.94%
WD-24 290.42 291.9 1.48 0.21 1.76 0.89 51.7 1.11 4.35%
WD-24 294.6 296.6 2.00 0.44 0.09 0.08 6.4 1.11 1.96%
WD-24 296.6 298.6 2.00 0.01 0.01 0.01 0.5 0.01 0.05%
WD-24 298.6 300.6 2.00 0.00 0.01 0.01 0.5 0.01 0.03%
WD-24 300.6 302.6 2.00 0.01 0.03 0.01 0.5 0.01 0.06%
WD-24 302.6 304.5 1.90 0.01 0.02 0.01 0.7 0.01 0.06%
WD-24 311.81 313.81 2.00 0.04 0.11 0.07 2.5 0.03 0.27%
WD-24 313.81 315.81 2.00 0.01 0.16 0.08 1.6 0.03 0.26%
WD-24 315.81 316.12 0.31 0.00 0.01 0.15 1.3 0.01 0.13%
WD-24 317.11 319.11 2.00 0.02 0.10 0.04 2.9 0.07 0.25%
WD-24 319.11 321.23 2.12 0.26 1.10 0.57 2.2 0.05 1.71%
WD-24 321.23 323.23 2.00 0.15 0.62 0.36 1.7 0.02 0.99%
WD-24 323.23 325.23 2.00 0.27 0.91 0.50 2.1 0.12 1.58%
Total 55.03m
1 Zinc Equivalent (ZnEq %) = Zn grade % * Zn Recovery + (Cu grade % * Cu
Recovery * (Cu price $/t / Zn price $/t)) + (Pb grade % * Pb Recovery * (Pb
price $/t / Zn price $/t)) + (Ag grade g/t / 31.103 * Ag recovery * (Ag price $
/oz / Zn price $/t)) + (Au grade g/t / 31.103 * Au recovery * (Au price $/oz /
Zn price $/t))
Zn equivalent calculated using following commodity prices: Zn - US$1.25/lb, Cu
- US$3.50/lb, Pb - US$1.00/lb, Ag - US$22.50/oz & Au - US$1750/oz
Zn Equivalent calculated using following recovery assumptions for White Rock
deposit: Zn - 82%, Cu - 48%, Pb - 78%, Ag - 70% & Au -50%
Sample analysis and QA/QC
All samples generated from the drilling were dispatched to ALS Loughrea.
Samples were analysed for multi-element data analysis using their ME-ICP61
package, which includes Ag, Cu, Pb and Zn. The samples were also assayed for
gold using their Au-AA23 analysis package. Overlimit assays were then analysed
using their Ag-OG62, Cu-OG62, Pb-OG62, Zn-OG62 and ME-OG62 analysis packages.
For QA/QC purposes, Anglesey Mining used the industry standard of inserting 5%
Certified Reference Material (CRM) samples, 2.5% Certified Blank Samples
(Blanks) and 5% duplicate samples at source. The CRMs were sourced from
Geostats Pty Ltd, Ore Research & Exploration Pty Ltd, OREAS and Natural
Resources Canada.
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., MIMMM 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.
About Anglesey Mining plc
Anglesey Mining is traded on the AIM market of the London Stock Exchange and
currently has 280,675,721 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
Jo Battershill, Chief Executive - Tel: +44 (0)7540 366000
John Kearney, Chairman - Tel: +1 416 362 6686
Davy
Nominated Adviser & Joint Corporate Broker
Brian Garrahy / Lauren O'Sullivan - Tel: +353 1 679 6363
WH Ireland
Joint Corporate Broker
Katy Mitchell / Harry Ansell - Tel: +44 (0) 207 220 1666
Canaccord Genuity Limited
Joint Corporate 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
END
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