Northern Copper Zone and Garth Daniel Zone, update

 

 

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