REG-Anglesey Mining Plc: Further drilling results confirm scale of Northern Copper Zone at Parys Mountain
13/05/2024 07:15
Trading Symbol
AIM: AYM
13th May 2024
Anglesey Mining plc
(“Anglesey” or “the Company”)
Further drilling results confirm scale of Northern Copper Zone at
Parys Mountain
Anglesey Mining plc (AIM:AYM), is pleased to announce that assay results have
been received for the recently completed drill hole NCZ003. Drill hole NCZ003
was the third hole to be completed from the infill drilling program of the
Northern Copper Zone (NCZ) and Garth Daniel Zone (GDZ) at the Company’s
Parys Mountain Cu-Zn-Pb-Ag-Au VMS project on the Isle of Anglesey in North
West Wales.
Consistent both with historical drilling and the recently completed NCZ001 and
NCZ002 holes, the assays confirm NCZ003 intersected a significant zone of
mineralisation across the NCZ with 90m @ 0.57% CuEq (including internal
dilution). Drill hole NCZ003 was terminated prematurely at a depth of 535m due
to a large, potentially fault-related void. The last 6 metres of core prior to
the 4m void assayed 1.16% CuEq and coincides with previous high-grade assays
from historic drilling.
As with the previous two holes in the program, NCZ003 intersected both broad
zones of mineralisation and multiple higher-grade zones. Importantly, the
drilling is demonstrating good continuity and further supports the integrity
of the geological model and drill targeting, with indications of greater
mineralised volumes overall.
Key intersections within the broad zone of mineralisation are detailed below:
Northern Copper Zone - Hole NCZ003
* 90.0m @ 0.51% Cu, 0.06% Zn, 0.03% Pb, 2.16g/t Ag and 0.14g/t Au (0.57% CuEq)
from a depth of 389m, including:
* 8.0m @ 0.80% Cu, 2.19g/t Ag and
0.16g/t Au (0.82% CuEq) from 427.0m
* 9.0m @ 0.99% Cu, 4.33g/t Ag and
0.15g/t Au (1.08% CuEq) from 449.0m
* 15.0m @ 0.47% Cu, 1.53g/t Ag and
0.07g/t Au (0.49% CuEq) from 490.0m, including 4.0m @ 0.48% Cu, 2.48g/t Ag and
0.13g/t Au (0.53% CuEq)
* 6.0m @ 1.20% Cu, 1.10g/t Ag and
0.01g/t Au (1.16% CuEq) from 529m (hole stopped in mineralisation)
***CuEq grades are based on recovery factors and commodity prices as detailed
after the tabulated reported assays of this release***
The third drill hole, NCZ003, concludes the on-site portion of the current
exploration and infill drilling program and we are expecting litho-geochemical
analysis results, from each of the three holes, to be back from the laboratory
in Canada in the coming weeks. Subsequently, on the strength of all the data
collected and the interpretation thereof, the Company is targeting a resource
update on the NCZ, with the aim of converting a significant portion of the
Inferred Resource into the higher confidence Indicated category. Based on the
Joint Ore Reserve Committee (JORC) guidelines, only Indicated and Measured
category Mineral Resources can be converted into Ore Reserves.
Andrew King, Interim Chairman of Anglesey Mining, commented: “Once again, we
are very pleased to see the Parys Mountain project delivering some very strong
drilling results. It is worth reminding investors that Parys Mountain is
demonstrably the largest and most advanced copper project in the UK with
substantial resource upside still evident. In addition, the project is
favourably located on a previously permitted, brownfield development site with
significant existing infrastructure already in place.“
“All three holes in the current program; NCZ001 NCZ002 and NCZ003 have
delivered some exceptional high-grade copper intersections within broad
thicknesses of mineralisation up to 100m wide. The results continue to support
our view that the NCZ provides significant upside for the Parys Mountain
project, over and above the 5 million tonne contribution included within the
2021 Preliminary Economic Assessment.”
NCZ - Cross Section 4600mE
Section 4600mE below highlights the position of the recently completed drill
hole NCZ002 and NCZ003.
The interpreted outline of the NCZ in the cross-section does not imply an
economic outcome, it simply highlights where sulphides have been identified
within the Northern Shales with a 0.5% CuEq cut-off. A significant number of
the drill holes within this zone have returned consistent zones of
higher-grade material, which was a key target of the program. The recognition
of a shear zone along the hanging wall of the NCZ could imply a structural
emplacement, or thickening of the sequence within the mine environment and
will greatly assist with future targeting and drilling.
Importantly, every hole drilled into the interpreted position of the NCZ has
intersected broad zones of sulphides; the drilling has demonstrated the
predictability of the mineralised zone from the detailed geological model that
has been constructed and refined over several years.
The most recent drill hole, NCZ003, targeted the up-dip area above historical
hole H17A and has provided important additional information relating to the
key lithology Rhyolite B – the emplacement of this unit is closely
associated to the mineralising event. This additional information will now be
incorporated into the geological model and the resource block model of the
NCZ.
Drill hole NCZ003 ended prematurely at a depth of 535m due to faulted ground
conditions and the intersection of a 4m void. The last metre of core prior to
the void assayed 1.3% Cu and 1.22% CuEq. The location of the void correlates
to the contact position of Rhyolite B and the host northern shale unit, which
has traditionally been a zone related to higher grade intersections – drill
hole A15 intersected 1.6m @ 3.7% CuEq approximately 100m up-dip from NCZ003
and NCZ001 intersected 22.0m @ 3.2% CuEq on section 4800mE (200m along
strike).
NCZ - Cross Section 4800mE
Section 4800mE below highlights the position of drill hole NCZ001.
As per section 4600mE, this section also highlights the continuity of sulphide
mineralisation across the NCZ. With the completion of NCZ003, the Company has
gained a greater understanding of the influence from Rhyolite B on the
higher-grade zones of mineralisation.
Section 4800mE also highlights the potential related to the Central Zone with
significant intersections from historical 1970’s drilling, including 3.8m @
8,6% Cu and 6.7m @ 2.4% Cu. The Company believes potential exists for these
intersections to link to the 22m @ 3.2 % CuEq (including 4.0m @ 5.2% Cu) in
NCZ001.
Drill hole details:
Hole ID Co-ordinates (E) (N) Elevation (m) Azimuth (°) Dip (°) End of Hole (m)
NCZ003 243806.92 390948.57 73.09 165 -72 535
Reported Assays (results >0.5 CuEq in bold):
Hole Number From To Sample Length Assays
(m) (m) (m) Cu (%) Zn (%) Pb (%) Ag (g/t) Au (g/t) CuEq (%)*
NCZ003 264.4 264.8 0.4 0.02 1.34 0.26 3.6 0.11 0.42%
NCZ003 339.8 340.3 0.5 0.00 0.00 0.01 0.5 0.01 0.01%
NCZ003 340.3 340.8 0.5 0.00 0.00 0.01 0.5 0.01 0.01%
NCZ003 340.8 341.3 0.5 0.00 0.00 0.01 0.5 0.01 0.01%
NCZ003 385 386 1 0.12 0.00 0.01 0.5 0.02 0.12%
NCZ003 386 387 1 0.38 0.00 0.01 0.7 0.02 0.37%
NCZ003 387 388 1 0.50 0.02 0.05 1.9 0.12 0.54%
NCZ003 388 389 1 0.36 0.01 0.09 1.1 0.12 0.42%
NCZ003 389 390 1 0.50 0.01 0.05 1.4 0.11 0.53%
NCZ003 390 391 1 0.25 0.00 0.03 1.0 0.18 0.32%
NCZ003 391 392 1 0.27 0.01 0.05 1.0 0.05 0.29%
NCZ003 392 393 1 0.44 0.01 0.04 1.5 0.41 0.60%
NCZ003 393 394 1 1.90 0.00 0.09 2.2 0.12 1.85%
NCZ003 394 395 1 0.04 0.00 0.01 0.5 0.06 0.07%
NCZ003 395 396 1 0.67 0.00 0.01 1.1 0.11 0.68%
NCZ003 396 397 1 0.33 0.00 0.00 1.1 0.32 0.45%
NCZ003 397 398 1 0.10 0.02 0.06 0.8 0.16 0.18%
NCZ003 398 399 1 0.18 0.01 0.02 0.8 0.06 0.20%
NCZ003 399 400 1 0.02 0.00 0.01 0.5 0.06 0.05%
NCZ003 400 401 1 0.32 0.01 0.01 1.2 0.18 0.38%
NCZ003 401 402 1 0.33 0.01 0.01 1.7 0.20 0.40%
NCZ003 402 403 1 0.34 0.00 0.01 1.1 0.10 0.37%
NCZ003 403 404 1 0.29 0.01 0.01 1.2 0.08 0.31%
NCZ003 404 405 1 2.80 0.02 0.01 4.2 0.28 2.75%
NCZ003 405 406 1 0.26 0.02 0.01 1.5 0.10 0.30%
NCZ003 406 407 1 0.27 0.01 0.01 2.6 0.25 0.37%
NCZ003 407 408 1 0.32 0.00 0.01 1.0 0.07 0.33%
NCZ003 408 409 1 0.23 0.00 0.01 0.8 0.14 0.28%
NCZ003 409 410 1 0.08 0.00 0.01 0.5 0.11 0.13%
NCZ003 410 411 1 0.62 0.01 0.01 2.0 0.49 0.79%
NCZ003 411 412 1 0.11 0.00 0.01 0.5 0.03 0.11%
NCZ003 412 413 1 0.19 0.01 0.01 0.9 0.12 0.24%
NCZ003 413 414 1 0.17 0.02 0.01 1.3 0.16 0.24%
NCZ003 414 415 1 0.29 0.00 0.00 0.8 0.10 0.31%
NCZ003 415 416 1 0.33 0.00 0.01 0.7 0.15 0.37%
NCZ003 416 417 1 1.14 0.01 0.02 1.8 0.15 1.14%
NCZ003 417 418 1 0.09 0.01 0.01 0.5 0.09 0.12%
NCZ003 418 419 1 0.50 0.01 0.01 1.8 0.09 0.52%
NCZ003 419 420 1 0.66 0.02 0.01 2.4 0.18 0.70%
NCZ003 420 421 1 0.25 0.01 0.01 1.0 0.08 0.28%
NCZ003 421 422 1 0.56 0.01 0.01 2.4 0.19 0.61%
NCZ003 422 423 1 0.76 0.01 0.01 2.6 0.24 0.83%
NCZ003 423 424 1 0.16 0.01 0.01 1.5 0.06 0.19%
NCZ003 424 425 1 0.05 0.01 0.01 1.2 0.11 0.10%
NCZ003 425 426 1 0.41 0.01 0.04 1.1 0.05 0.43%
NCZ003 426 427 1 0.17 0.00 0.01 0.7 0.08 0.20%
NCZ003 427 428 1 0.92 0.02 0.01 2.8 0.13 0.93%
NCZ003 428 429 1 0.86 0.00 0.01 1.5 0.10 0.86%
NCZ003 429 430 1 1.82 0.01 0.01 2.8 0.13 1.77%
NCZ003 430 431 1 1.41 0.04 0.01 4.2 0.19 1.43%
NCZ003 431 432 1 0.48 0.01 0.01 1.5 0.10 0.50%
NCZ003 432 433 1 0.07 0.00 0.00 0.6 0.05 0.09%
NCZ003 433 434 1 0.27 0.01 0.01 2.0 0.43 0.44%
NCZ003 434 435 1 0.53 0.01 0.00 2.1 0.15 0.57%
NCZ003 435 436 1 0.29 0.06 0.21 4.5 0.30 0.49%
NCZ003 436 437 1 0.12 0.01 0.01 2.2 0.15 0.19%
NCZ003 437 438 1 0.11 0.00 0.01 1.1 0.14 0.17%
NCZ003 438 439 1 0.21 0.02 0.00 1.7 0.09 0.25%
NCZ003 439 440 1 0.04 0.01 0.01 1.4 0.10 0.09%
NCZ003 440 441 1 0.05 0.00 0.00 0.9 0.08 0.09%
NCZ003 441 442 1 0.09 0.00 0.00 1.0 0.07 0.12%
NCZ003 442 443 1 0.80 0.01 0.00 2.4 0.19 0.84%
NCZ003 443 444 1 0.37 0.01 0.00 2.0 0.19 0.43%
NCZ003 444 445 1 0.38 0.04 0.04 4.3 0.36 0.55%
NCZ003 445 446 1 0.18 0.01 0.01 1.6 0.13 0.24%
NCZ003 446 447 1 0.31 0.01 0.00 2.0 0.14 0.36%
NCZ003 447 448 1 0.53 0.09 0.27 4.8 0.16 0.68%
NCZ003 448 449 1 0.24 0.01 0.17 1.6 0.10 0.32%
NCZ003 449 450 1 2.10 0.02 0.03 7.1 0.40 2.17%
NCZ003 450 451 1 0.51 0.01 0.02 2.3 0.18 0.57%
NCZ003 451 452 1 1.60 0.28 0.80 7.1 0.13 1.87%
NCZ003 452 453 1 0.95 0.03 0.26 5.3 0.21 1.08%
NCZ003 453 454 1 0.49 0.06 0.20 3.1 0.08 0.58%
NCZ003 454 455 1 0.14 0.01 0.02 1.0 0.06 0.16%
NCZ003 455 456 1 0.29 0.12 0.22 5.9 0.06 0.42%
NCZ003 456 457 1 0.30 0.08 0.08 2.1 0.13 0.38%
NCZ003 457 458 1 2.55 0.07 0.16 5.1 0.09 2.50%
NCZ003 458 459 1 0.28 0.06 0.12 3.0 0.16 0.39%
NCZ003 459 460 1 0.70 0.04 0.09 5.4 0.19 0.79%
NCZ003 460 461 1 0.76 0.03 0.02 3.5 0.17 0.80%
NCZ003 461 462 1 0.64 0.01 0.01 1.7 0.14 0.67%
NCZ003 462 463 1 0.39 0.01 0.01 1.7 0.08 0.40%
NCZ003 463 464 1 0.13 0.26 0.53 2.9 0.06 0.36%
NCZ003 464 465 1 0.13 0.06 0.19 1.8 0.03 0.21%
NCZ003 465 466 1 1.10 0.12 0.04 5.4 0.10 1.13%
NCZ003 466 467 1 0.42 0.04 0.08 3.9 0.10 0.48%
NCZ003 467 468 1 0.18 0.00 0.07 0.7 0.02 0.20%
NCZ003 468 469 1 0.31 0.02 0.05 1.9 0.03 0.33%
NCZ003 469 470 1 0.14 0.09 0.18 1.9 0.08 0.24%
NCZ003 470 471 1 0.10 0.03 0.14 1.1 0.02 0.16%
NCZ003 471 472 1 1.71 0.05 0.09 6.4 0.05 1.68%
NCZ003 472 473 1 0.12 0.01 0.01 0.8 0.06 0.14%
NCZ003 473 474 1 0.15 0.01 0.01 0.9 0.04 0.16%
NCZ003 474 475 1 0.71 0.02 0.05 1.7 0.13 0.74%
NCZ003 475 476 1 0.58 0.02 0.01 3.2 0.17 0.63%
NCZ003 476 477 1 0.07 0.01 0.06 0.8 0.04 0.11%
NCZ003 477 478 1 0.82 0.04 0.05 3.5 0.16 0.87%
NCZ003 478 479 1 1.37 0.02 0.04 3.5 0.08 1.34%
NCZ003 479 480 1 0.10 0.01 0.05 0.8 0.04 0.12%
NCZ003 480 481 1 0.04 0.03 0.06 0.7 0.03 0.07%
NCZ003 481 482 1 0.13 0.01 0.02 0.5 0.03 0.14%
NCZ003 482 483 1 0.38 0.01 0.02 1.3 0.05 0.39%
NCZ003 483 484 1 0.07 0.00 0.01 0.5 0.01 0.08%
NCZ003 484 485 1 0.02 0.00 0.01 0.5 0.01 0.03%
NCZ003 485 486 1 0.40 0.00 0.01 0.6 0.03 0.39%
NCZ003 486 487 1 0.03 0.00 0.01 0.5 0.02 0.04%
NCZ003 487 488 1 0.02 0.13 0.06 0.8 0.02 0.07%
NCZ003 488 489 1 0.19 0.01 0.02 0.5 0.03 0.19%
NCZ003 489 490 1 0.15 0.00 0.01 0.5 0.02 0.15%
NCZ003 490 491 1 0.63 0.03 0.01 4.1 0.19 0.69%
NCZ003 491 492 1 0.51 0.07 0.02 4.0 0.26 0.63%
NCZ003 492 493 1 0.13 0.01 0.07 0.9 0.04 0.16%
NCZ003 493 494 1 0.66 0.00 0.01 0.9 0.02 0.63%
NCZ003 494 495 1 0.09 0.06 0.05 1.0 0.04 0.13%
NCZ003 495 496 1 0.01 0.01 0.01 0.5 0.02 0.03%
NCZ003 496 497 1 0.31 0.01 0.01 1.2 0.06 0.32%
NCZ003 497 498 1 0.83 0.02 0.01 1.7 0.04 0.81%
NCZ003 498 499 1 0.63 0.01 0.01 1.1 0.05 0.61%
NCZ003 499 500 1 0.03 0.00 0.01 0.5 0.01 0.04%
NCZ003 500 501 1 0.47 0.00 0.01 1.2 0.03 0.46%
NCZ003 501 504 3 0.64 0.04 0.14 1.5 0.08 0.69%
NCZ003 504 505 1 0.78 0.09 0.15 1.4 0.03 0.81%
NCZ003 505 506 1 0.08 0.00 0.01 0.5 0.01 0.08%
NCZ003 506 507 1 0.04 0.00 0.01 0.5 0.01 0.05%
NCZ003 507 508 1 0.00 0.00 0.01 0.5 0.01 0.01%
NCZ003 508 509 1 0.00 0.00 0.02 0.5 0.01 0.02%
NCZ003 509 510 1 0.00 0.00 0.01 0.5 0.01 0.01%
NCZ003 510 511 1 0.02 0.00 0.01 0.5 0.02 0.03%
NCZ003 511 512 1 0.19 0.00 0.05 0.5 0.01 0.20%
NCZ003 512 513 1 0.00 0.00 0.01 0.5 0.01 0.01%
NCZ003 513 514 1 0.00 0.00 0.01 0.5 0.01 0.01%
NCZ003 514 515 1 0.01 0.00 0.01 0.6 0.03 0.03%
NCZ003 515 516 1 0.07 0.00 0.01 0.5 0.01 0.08%
NCZ003 516 517 1 0.04 0.01 0.02 0.5 0.01 0.05%
NCZ003 517 518 1 0.83 0.00 0.01 0.8 0.01 0.78%
NCZ003 518 519 1 0.14 0.01 0.02 0.8 0.01 0.14%
NCZ003 519 520 1 0.15 0.00 0.02 0.5 0.01 0.15%
NCZ003 520 521 1 0.06 0.00 0.02 0.5 0.01 0.07%
NCZ003 521 522 1 0.10 0.00 0.02 0.5 0.01 0.11%
NCZ003 522 523 1 0.03 0.00 0.01 0.5 0.01 0.04%
NCZ003 523 524 1 0.25 0.00 0.02 0.5 0.01 0.24%
NCZ003 524 525 1 0.01 0.00 0.01 0.5 0.01 0.02%
NCZ003 525 526 1 0.21 0.00 0.01 0.5 0.01 0.20%
NCZ003 526 527 1 0.08 0.00 0.01 0.5 0.01 0.08%
NCZ003 527 528 1 0.00 0.00 0.01 0.5 0.01 0.01%
NCZ003 528 529 1 0.24 0.00 0.01 0.5 0.01 0.23%
NCZ003 529 531 2 1.15 0.01 0.19 1.2 0.01 1.13%
NCZ003 534 535 1 1.30 0.01 0.02 0.9 0.01 1.22%
Total 148.90
* Copper Equivalent (CuEq %) = Cu grade % * Cu Recovery + (Zn grade % * Zn
Recovery * (Zn price $/t /Cu price $/t)) + (Pb grade % * Pb Recovery * (Pb
price $/t /Cu price $/t)) + (Ag grade g/t / 31.103 * Ag recovery * (Ag price
$/oz /Cu price $/t)) + (Au grade g/t / 31.103 * Au recovery * (Au price $/oz
/Cu price $/t))
Cu Equivalent calculated using following commodity prices: Zn – US$3350/t,
Cu – US$9523/t, Pb – US$2292/t, Ag – US$25.50/oz and
Au – US$1850/oz
Cu Equivalent calculated using following recovery assumptions for Northern
Copper Zone: Zn – 82%, Cu – 93%, Pb – 78%, Ag – 72% and Au – 65%
Sample analysis and QA/QC
All samples generated from the drilling were dispatched to ALS Loughrea,
Ireland.
Samples were assayed 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 OREAS
Australia.
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.
.
About Anglesey Mining plc:
Anglesey is traded on the AIM market of the London Stock Exchange and
currently has 420,093,017 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.
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
WH Ireland
Joint Corporate Broker
Katy Mitchell / Harry Ansell – Tel: +44 (0)207 220 1666
Brand Communications
Public & Investor Relations
Alan Green – Tel: +44 (0)7976 431608
A PDF version of this RNS may be viewed/downloaded via the following
link: RNS_13May2024
(https://www.angleseymining.co.uk/wp-content/uploads/2024/05/RNS_NCZ003-assays_13May24Final.pdf)
LEI: 213800X8BO8EK2B4HQ71
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