Anglesey Mining #AYM – Following assay results for hole NCZ003, WH Ireland maintains fair value at 5.4p per share
The Northern Copper Zone is shaping up to underpin enhanced mine plans and project economics for Parys Mountain Anglesey recently reported the assay results for the third drill hole completed at its’ Parys Mountain project. Drilling has confirmed the continuity and scale of the Northern Copper Zone (NCZ) which we believe is likely to contribute significant volumes of high-grade ore to mine plans in on-going feasibility studies. Surging metal prices and increased volumes will, we believe, contribute to significantly enhanced project economics once feasibility studies are reported.
The Parys Mountain drill programme has successfully demonstrated the continuity of mineralisation at the NCZ, and it has improved confidence in the Garth Daniel and Central zones. Drilled intervals from the NCZ extend over at least 700m of strike and 400m down-dip, mineralisation is recorded in intervals over 10’s of meters. It is our belief that the drilled intervals lend themselves to low-cost bulk-mining methods and that this will significantly enhance the economic projections for Parys Mountain once feasibility studies are reported. We expect Anglesey will report an updated resource for Parys Mountain that we anticipate will include higher confidence resource categories as well as boosting contained metal. We maintain our fair value at 5.4p per share.
Introduction from new Anglesey Mining #AYM CEO Rob Marsden
An introduction from new Anglesey Mining #AYM CEO Rob Marsden from Parys Mountain
- Rob provides an overview of his CV, along with a brief overview of Parys Mountain mine and the surrounding area
- A brief overview of today’s assay results that “demonstrate good continuity, supporting the integrity of the geological model”
- Litho geochemical results from all three holes due in the coming weeks
- Targeting a resource update on the Northern Copper Zone
Anglesey Mining #AYM – 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
- 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:
- 0m @ 0.80% Cu, 2.19g/t Ag and 0.16g/t Au (0.82% CuEq) from 427.0m
- 0m @ 0.99% Cu, 4.33g/t Ag and 0.15g/t Au (1.08% CuEq) from 449.0m
- 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)
- 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
Quoted Micro 10 May 2024
Time to ACT is planning to join the Aquis Stock Exchange later this month and it has launched a fundraising ahead of the flotation. The flotation will take place even if there is no money raised. Time to ACT plans to develop a group of engineering-based energy transition businesses. Middlesborough-based Time to ACT has two subsidiaries. Diffusion Alloys is a long-established diffusion coating business. The technology provides an intermetallic layer that protects metal components at high temperatures. GreenSpur is a much newer business that is developing direct drive generator technology for use in wind power that does not require rare earths for magnets. The Winterflood Retail Access Platform is being used to raise up to £1m. The issue price and closing date have yet to be announced. Investors have to apply for shares via a broker. The minimum subscription is £100.
Cykel AI (CYK) has agreed a bid from standard listed Mustang Energy (MUST). The offer is 1.911 Mustang Energy shares for each Cykel AI share. Both companies’ shares have been suspended since 17 January. The Mustang Energy suspension price was 30.6p, but the bid is based on a much lower share price valuing the company, which has net liabilities, at £1m. That values the bid at 9.37p/share and Cykel AI is valued at £19.2m. Cykel AI is developing artificial intelligence products.
Newbury Racecourse (NYR) increased 2023 revenues by 9% to £19m and reported pre-tax profit improved from £130,000 to £720,000. However, there was a £700,000 exceptional gain relating to the release of a provision included. Cost increases reduced underlying profit. Raceday attendances fell from 141,000 to 130,000. The nursery has increased capacity by 18%. Shaun Hinds will become chief executive on 3 June.
Silverwood Brands (SLWD) executive director acquired 100,000 shares at 20p following the restoration of trading at the beginning of May. The share price recovered by 48.5% to 24.5p, but it is still not back to its suspension price.
Marula Mining (MARU) has appointed a new mine manager at the Larisoro manganese mine in Kenya. Bernard Kiprotich has five years of mining experience in Kenya. Marula Mining is investing in the established Larisoro manganese mining operation by securing a 60% commercial interest with an option to increase it to 70%. There are three shallow open pits. The purchase price is £300,000 satisfied by the issue of 2.4 million shares. Marula Mining will provide investment of $1.5m for equipment to enable production to be increased.
Essentially Group (ESSN) has completed the acquisition of Best Latin Foodstuff Trading for £1.945m in shares at 52.5p each. Catalina Onate, who founded the food importer, has been appointed as an executive director.
Shareholders passed resolutions at the AGM of Supernova Digital Assets (SOL), including a cancelation of the share premium account and authority to buy back shares.
TruSpine Technologies (LON: TSP) chief executive Laurence Strauss has resigned. He was appointed in April 2023.
RentGuarantor Holdings (RGG) raised £35,000 at 274p/share.
AIM
Metallurgical coal company Bens Creek (BEN) says a further court hearing related to the three US operations that are in Chapter 11 bankruptcy protection will be held on 6 June. The court has accepted the proposed Avanti debtor in possession financing and $2m has been drawn down. This provides enough cash until the end of May. The final terms of the facility are being negotiated.
Genedrive (GDR) has raised £2.1m in a placing at 1.5p. This follow’s yesterday evening’s announcement of a fundraising, where the point of care pharmacogenetic testing company wanted to raise £2.5m via a placing. There is also a REX retail offer for up to £3.5m, which closes on 17 May, and a one-for-one open offer that could raise up to £2.1m. If the total amount raised is not at least £6m the fundraising will not go ahead, so a further £3.9m is required. The company’s tests are being commercialised and a direct to consumer strategy pursued in the UK, while there will be distributors in other countries. There will also be investment to improve manufacturing efficiency and to fund regulatory approvals.
Plant Health Care (PHC) generated a 72% increase in revenues to $4.3m in the first four months of 2024. There is cash of $2.3m. The loss could be reduced from $3m to less than $1m this year. A profit is possible in 2025.
Third quarter driver management systems units produced by Seeing Machines (SEE) have gone into 313,662 vehicles, which is 51% higher than the previous quarter. This is more than treble the number in the same period two years and 80% higher than one year previously with more contracts set to contribute. Monitored connections of the Guardian fleet units were 5% higher on the quarter at 59,706.
Push-to-talk and workplace management technology developer Mobile Tornado (MBT) has won a contract through its regional partner to supply technology for a mobile network in the Middle East and Africa, which has more than 50 million customers. Management believes that there should be increasing sales momentum following the deal.
Healthcare services provider Totally (TLY) reassured the market with its latest trading statement. Full year EBITDA was £2.3m, down from £6.9m, and net debt was £800,000 at the end of March 2024. Revenues fell 22% to £106m because of the loss of a contract. Cost reductions and efficiency improvements have offset the tough market. Annualised cost savings of £3.5m are expected.
Bushveld Minerals (BMN) has agreed the conditional disposal of Vanchem to Southern Point Resources Fund 1 for up to $40.6m. The initial consideration is $20.6m. This requires shareholder approval. Southern Point Resources is increasing the interim working capital facility it is providing that is secured on production at Vanchem. This, and a $9m working capital facility, will be offset against the initial consideration and be used to pay creditors. This will leave a cash payment to Bushveld Minerals of $3.5m when the disposal happens. The deferred consideration is based on 25% of distributable free cash flow with a minimum of $1.25m paid for each quarter of the three-year period.
Mothercare (MTC) reported a 13% decline in global system sales last year due to poor trading in the Middle East. Destocking is a problem. There was better trading in the UK and Indonesia. The retailer will improve EBITDA, but Cavendish reduced its forecast EBIDA by 9% to £7m, compared to £6.7m in 2022-23. Refinancing talks continue and a conclusion should reduce the interest bill.
Battery technology developer Ilika (IKA) is raising up to £3.4m at 28p/share to spend on the Goliath solid-state battery. This cash should last at least 12 months. A placing and subscription raised £1.7m and a one-for-26 open offer could raise up to £1.7m more. The open offer closes on 28 May. There will be £750,000 earmarked for the development of the Goliath battery and this supplements the grant assistance obtained. A further £750,000 will be used to increase testing capacity to 0.75MWh/a and for upgrading dry room facilities. Additional cash raised will support further capital expenditure and working capital for Goliath and the Stereax miniature battery.
MAIN MARKET
Packaging manufacturer and distributor Macfarlane Group (MACF) disappointed with its AGM trading statement and lost the majority of the share price gain this year. Prices are falling, but this reflects lower costs, so margins are being maintained. First quarter sales were 9.5% lower, which does reflect a reduction in volumes. There should be improvement in the second half.
Oxford Cannabinoid Technologies (LON: OCTP) plans to cancel the standard listing. Management believes that stockmarket uncertainty is making it difficult to raise cash at an acceptable share price. The development of the drug pipeline will continue. The cancelation date is 6 June.
Cadence Minerals #KDNC – Corporate Update – Evergreen Lithium (ASX: EG1) Fully Permitted to Commence Exploration at Bynoe
Cadence Minerals (AIM: KDNC; OTC: KDNCY) is pleased to note that ASX listed Evergreen Lithium Limited (“Evergreen”) (ASX: EG1) has announced the approval of its Mine Management Plan (MMP), enabling EverGreen to commence high impact exploration activities such as auger sampling and drilling at its flagship Bynoe project.
Geochemical, geophysical and mapping activities completed to date demonstrate the potential for lithium bearing LCT pegmatite style mineralisation within EverGreen’s EL 31774 lease, spanning 231 square Kilometers of tenure.
Highlights:
- EverGreen has received approval for its Mine Management Plan (MMP) which will allow for drilling and other higher impact activities to commence at its Bynoe Project. These activities include auger sampling, AC/RAB, RC and diamond drilling.
- Aboriginal Areas Protection Authority certificate (AAPA) has already been received in December 2023.
- The Bynoe project is now fully permitted to commence exploration.
- Auger sampling and drilling contractors have been secured and work is scheduled
- to commence when field conditions are suitable.
- Planned work programs for 2024 will include auger, RAB/AC and RC drilling testing of geochemical and geophysical anomalies, with potential follow-up diamond drilling.
Link here to view the full Evergreen ASX announcement
Evergreen Exploration Manager Andrew Harwood commented: “With all Bynoe exploration and drilling approvals now received and field conditions improving, it is expected that field activities will commence in the coming weeks. The Company looks forward to drilling on its 231Km2 lease at Bynoe, one of the largest land holdings in the Bynoe Pegmatite Field. The Company believes that its Bynoe Lithium Project hosts excellent and compelling drill-ready targets”.
Background to Cadence’s investment in Evergreen Lithium
Cadence Minerals received approximately 15.8 million shares in Evergreen in July 2022 when Cadence sold its 31.5% stake in Lithium Technologies and Lithium Supplies (“LT and LS”) to Evergreen as announced on 27 June 2022. A further AS$ 3.47 million (£1.86 million) of shares in Evergreen are due to Cadence on the achievement of certain performance milestones by Evergreen. The pricing of Evergreen shares associated with this consideration is based on a defined pricing mechanism linked to the VWAP and the date at which the performance milestones are achieved. Further details of these milestones can be found in the Evergreen prospectus available here . Cadence’s shares are subject to a 2-year escrow agreement as determined by the listing rules of the ASX.
For further information contact:
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Cadence Minerals plc | +44 (0) 20 3582 6636 |
Andrew Suckling | |
Kiran Morzaria | |
WH Ireland Limited (NOMAD & Broker) | +44 (0) 20 7220 1666 |
James Joyce | |
Darshan Patel | |
Fortified Securities – Joint Broker | +44 (0) 20 3411 7773 |
Guy Wheatley | |
Brand Communications | +44 (0) 7976 431608 |
Public & Investor Relations | |
Alan Green |