Anglesey targets increased indicated resource

Anglesey Mining plc expects results from its three now completed infill drill holes to increase the indicated resource category at its 100% owned Parys Mountain polymetallic project.

CONTINUITY

The programme targeted the Northern Copper zone (NCZ) and Garth Daniel zone, where holes NCZ001 and NCZ002 were previously drilled.

The final hole NCZ003 has intersected a “significant zone of mineralisation” with assays consistent with historical drilling and the first two holes.

Results include 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,” added Anglesey.

“The last six metres of core prior to the 4m void assayed 1.16% CuEq and coincides with previous high-grade assays from historic drilling.”
 
NCZ003 intersected broad zones of mineralisation and “multiple higher-grade zones” with drilling “demonstrating good continuity”.

The programme further supported the “integrity of the geological model and drill targeting, with indications of greater mineralised volumes overall”.

Anglesey has now ended the on-site part of its current exploration and infill drilling and expects litho-geochemical analysis results from the three holes in the coming weeks.

The company said that, from data collected, it aimed to convert a “significant” portion of inferred resource into the indicated category.

Interim chairman Andrew King added that Parys Mountain was 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 programme 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.”