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Anglesey Mining #AYM – Directorate Changes
Anglesey Mining plc (AIM:AYM), the UK-based mineral exploration and development company, today announces the following changes to the Company’s board of directors (the “Board”).
Rob Marsden will resign from the Board with immediate effect and, to support an orderly handover process, will step down from his role as Chief Executive Officer (“CEO”) of Anglesey on the 31 st May 2026.
Following the significant strategic and financial repositioning of Anglesey over the past 6 months, both the Board and Rob have agreed that this is now an appropriate time to transition leadership of the Company. The Board has commenced the process to appoint Rob’s successor.
In addition, Andrew King, currently Non-Executive Chairman, will step down from this role, effective immediately, and will remain as a Non-Executive Director. Jim Williams, currently Non-Executive Director, will become Executive Chair effective immediately.
On behalf of the Board, Jim Williams will lead the process to appoint a CEO. Further announcements regarding the appointment of a new CEO, as well as an operational update, will be released in due course.
The Board would like to thank Rob for his contribution to the Company and we wish him well in his future endeavours.
For further information, please contact:
Anglesey Mining plc
Jim Williams, Executive Chairman – Tel: +44 (0)7774 274836
Davy
Nominated Adviser & Joint Corporate Broker
Brian Garrahy / Daragh O’Reilly – Tel: +353 1 679 6363
ALBR Capital Limited Tel: +44 (0)20 7562 0930
Joint Broker
Lucy Williams / Duncan Vasey
Anglesey Mining #AYM – Annual Report 2025
Anglesey Mining plc is a UK company engaged in the development of mining projects.
Parys Mountain: 100% ownership of the Parys Mountain underground copper-zinc-lead-silver-gold deposit in North Wales, UK where an independent Preliminary Economic Assessment dated January 2021 included a financial model for a 3,000 tpd mining operation with a pre-tax NPV10% of US$120 million, (£96 million), 26% IRR and 12-year mine life.
Grängesberg Iron: 49.8% interest in the Grängesberg iron ore project in Sweden where Anglesey had management rights which it relinquished in August 2025.
Probable Ore Reserves of 82.4 million tonnes, 16-year mine life with annual production of 2.5 million tonnes of concentrate grading 70% iron.
Labrador Iron Mines: 11.9% shareholding in Labrador Iron Mines Holdings Limited which holds Direct Shipping Ore (DSO) deposits of iron in Canada with potential for production of 2 million tonnes of DSO per year, with an initial 12-year mine life, for total production of 23.4 million tonnes of product at 62.2% Fe.
Chairman’s statement
During the 2024-25 financial year your company has been focused in two areas:
Determining an incremental path to the development of a polymetallic mine at Parys Mountain, and I’m pleased to report that this work has identified the deployment of a high density pumped hydro energy storage scheme (energy project) to be a logical initial step. The energy project has the attributes to attract third party funding and would dewater and re-establish underground access at the modern Parys Mountain mine for the first time since it was allowed to flood in 1991. Polymetallic mine development will also benefit from the energy project’s environmental studies and surface facility and infrastructure build.
Secondly, attempting various strategies to realise value from the minority stakes the company holds in Grängesberg Iron in Sweden and Labrador Iron Mines in Canada. Whilst these endeavours have, unfortunately, been unsuccessful to date, the Board has credible rational to believe in the substantial intrinsic value of each of the underlying assets, and will continue to pursue realisation of the company’s share of value.
Immediately before the publication of this report we announced a new financing facility of up to £2 million which will secure Anglesey’s near-term future and allow us to move forward with Parys Mountain as well as with activities that mitigate the prevailing risks of the energy project. In turn this facility should improve the prospects of securing other third-party funding on reasonable terms. The successful shaping of a credible path to the incremental development of Parys Mountain has allowed this finance to be secured,
Board changes
At the 2024 Annual General Meeting the appointment of Rob Marsden to the Board was confirmed by the shareholders.
On 5 December 2024 Jo Battershill stepped down as a non-executive director of the company and on the same day Doug Hall was appointed to the board. I would like to thank Jo for his service to Anglesey in recent years, both as Chief Executive Officer and more recently as a non-executive director. His decision to step down as a director follows his relocation to Australia earlier this year to pursue a new opportunity in the resources sector and we wish him well in his future endeavours.
On 6 September 2024 we were sorry to accept the resignation of Namrata Verma as a non-executive director. We thank her for her services since 2021.
Parys Mountain
While the company has not had sufficient financial resources to update the statement of geological resources at Parys Mountain, it remains our intention to do so, particularly with results of the Northern Copper Zone drilling campaign, the assays from which were published in the first half of 2024. Progress has also been made with the planning permissions required and with the Environmental Impact Assessment Scoping Report which was approved in January this year.
Grängesberg
You will have seen from our announcement in August 2025 that we felt it necessary to remove ourselves from the management of the Grangesberg Iron project. This is not the outcome we would have preferred, however, in the circumstances it was unavoidable. We remain 49.8% owners of the project and are hopeful that its intrinsic value as a potential producer of high-quality steel by a low carbon emissions process will be of value and use in coming years.
Appreciation
I wish to recognise the dedication and enthusiasm of our small management team, led by Rob Marsden. I would also like to thank our board of directors for their leadership, as well as consultants and advisors for their contribution. Finally, I should welcome our new shareholders and thank them, and all our shareholders, for their continued support.
Andrew King
Chairman
30 September 2025
Strategic report – Operations
We are very pleased to have landed on a strategy that will allow the incremental development of a mine at Parys Mountain.
As we have announced, the plan is to utilise the existing modern underground mine at Parys Mountain as a pumped hydro energy store using fluid, to be pumped and dropped in a closed loop cycle between upper and lower reservoirs. This fluid will be manufactured from existing surface mine waste and will have a density 2.5 times greater than water, allowing significantly more energy to be stored than would otherwise be the case.
It is hoped and expected that this project will attract third party funding which will allow the development of Parys Mountain as a polymetallic mining operation to be incremental, allowing risks to be mitigated in stages, keeping options open for the next step.
At the beginning of the financial year in mid-2024, results were received from the three-hole drilling program in the Northern Copper and Gareth Daniel zones. These were very encouraging and demonstrated good grades and continuity although obviously more work will need to be done to bring these up to the standard needed for modern ore resource calculations.
Late in 2024, the UK 2024 critical minerals assessment was completed and it is worth reminding ourselves of the significant amounts of critical minerals contained within the Parys Mountain deposits which have been identified so far. While we have not had sufficient financial resources to update the statement of geological resources at Parys Mountain, it remains our intention to do so, particularly with results of the Northern Copper Zone drilling campaign.
In January this year I was pleased to be able to report that the Environmental Impact Assessment Scoping Report for development of the polymetallic mine at Parys Mountain had been approved.
Proposed fund raising and restructuring of share capital
It was pleasing to announce on 25 September 2025 that we had entered into a conditional equity financing facility for up to £2 million with Alumni Capital LP, an American finance house. This will provide funds for our activities and the development of the Parys Mountain property. In order to carry out the refinancing the company’s existing ordinary shares will need to be consolidated on a 20 for 1 basis. This and certain other actions will require the approval of shareholders which will be sought in a general meeting called for 23 October 2025. A circular which was issued on 26 September 2025 describes all of these matters in more detail, however in outline the facility will require Alumni to subscribe for shares valued at up to £2 million in cash over the 18 month period following its signing. Anglesey will issue these new ordinary shares at 80% of the market price of those shares. Further, Alumni will receive a warrant priced at 120% of the issue price for every two shares issued. There are limits on the rate of the subscriptions and certain fees to be paid including in respect of early termination of the arrangement.
Grangesberg and Labrador
We have been working on unlocking value from our minority stakes in Grängesberg and Labrador Iron Mines, as we feel it is the best way, without diluting existing shareholders, to secure funds for the group’s activities. It is frustrating that we have not yet been able to move forward with either of these assets. Value remains in these two minority positions and pursuing Anglesey Mining’s share from them will remain a priority.
We no longer manage the Grangesberg Iron project. We remain 49.8% owners of the project and believe there is significant value in this investment.
We intend to dispose of our holding in Labrador Iron Mines Holdings Limited which owns the Canadian iron ore properties which we originally developed over 15 years ago. We are not immediately optimistic that this sale will eventuate however we intend to continue to explore all reasonable avenues.
Financial results and position
There are no revenues from the operation of the properties.
The loss before other comprehensive income for the year ended 31 March 2025 after tax was £656,504 compared to a loss of £1,213,279 in the 2024 fiscal year. The administrative and other costs excluding investment income and finance charges were £450,086 compared to £839,424 in the previous year. The decrease from financial year 2024 was largely due to exceptional items occurring in that year.
The value of the group’s holding in LIM is reported in other comprehensive income and effectively is based on its share price. This year there is a loss of £0.2 million as the share price declined. The outcome for the group is a total comprehensive loss for the year of £827,677, compared to a loss of £1,859,181 in the previous year.
During the year there were no additions to fixed assets (2024 – nil) and £141,206 (2024 – £679,475) was capitalised in respect of the Parys Mountain property, the reduction being due to the completion of the programmes of drilling, geological environmental work carried out in 2023-24.
At 31 March 2025 the mineral property exploration and evaluation assets had a carrying value of £17.0 (2024 – £16.9) million. These carrying values are supported by the results of the 2021 Preliminary Economic Assessment of the Parys Mountain project.
At the reporting date, as detailed in note 10, the directors considered the carrying value of the Parys Mountain exploration and evaluation assets to determine whether specific facts and circumstances suggest there is any indication of impairment. They carefully considered the positive results of the resource update completed in March 2023, the independent PEA and the plans for moving the project forward. Consequently, the directors concluded that there were no facts and circumstances which materially changed during the year which might trigger an impairment review and that there are no indicators of impairment.
In June and September 2024 £635,000 was raised by means of investor placings at 1p per ordinary share. Directors participated in the first of these placings. In November 2024 1.23 million shares were issued at 1p in satisfaction of amounts due to suppliers. Further details are included in the directors’ report and note 20.
Post year end, on 30 May 2025 the group borrowed £100,000 for working capital purposes at an interest rate of 10% per annum for a period of five years, secured on freehold property at Parys Mountain.
The cash balance at 31 March 2025 was £44,264, compared to £219,685 at 31 March 2024. At 19 September 2025 the group the cash resources of the group were £53,193.
At 31 March 2025 there were 484,822,255 ordinary shares in issue (2024 – 420,093,017), the increase being due to the financing events referred to above. At 19 September 2025 there were also 484,822,255 ordinary shares in issue.
Outlook
In the current year, we are:
- Focused on delivering a polymetallic underground mine at Parys Mountain. To that end, Anglesey Mining’s management has developed the energy storage scheme that will enable investment in the development of Parys Mountain to be incremental so far as practicable, thus allowing risks to be mitigated in stages before considering options for the next step of development.
- Progressing a Pre-feasibility study for the energy storage scheme.
- Formalising joint venture arrangements with RheEnergise as the IP holders of the high-density pumped hydro energy storage solution.
- Progressing the re-permitting of Parys Mountain.
Development of a new mine at Parys Mountain, producing copper, zinc and lead with gold and silver credits, can deliver economic growth in the UK, regional jobs for the community and business opportunities for local service providers. Importantly, these critical and strategic metals, essential for the decarbonisation of the economy, are primarily imported into the UK currently. This creates a unique and timely opportunity, both for Anglesey Mining and for the UK, to develop a new, modern, mine at Parys Mountain in an environmentally sustainable manner.
This report was approved by the board of directors on 30 September 2025 and signed on its behalf by:
Rob Marsden
Chief Executive
30 September 2025
Anglesey Mining #AYM – Board Changes
Anglesey Mining plc (AIM:AYM), the UK minerals development company is pleased to announce the appointment of Mr. Robert Douglas Hall as a non-executive director of the Company, with immediate effect. Anglesey also announces that Jo Battershill has informed the Board of his decision to step down as a non-executive director of the Company with immediate effect.
Doug Hall is a qualified lawyer with over 30 years of UK and international legal experience, including in the mining sector. Doug currently serves as General Counsel for West Cumbria Mining and previously also served in the position of General Counsel for Avesoro Resources, a West-African focused gold exploration, development and production company. Prior to moving in-house, Doug served as a Partner in a number of leading international law firms, including Norton Rose Fulbright and MinterEllison.
Andrew King, Chairman of Anglesey, commented: “I am delighted to welcome Doug to the board of Anglesey. With a risk assessment and project finance background, he brings extensive experience of guiding companies in the natural resources sector through complex negotiations, often with a cross border and cross-cultural element. I am sure he will make a significant contribution to the Anglesey board as we seek to progress the business, in particular the advancement of our Parys Mountain project.
I would also like to thank Jo for his service to Anglesey in recent years, both as Chief Executive Officer and, more recently, as a non-executive director. His decision to step down as a director follows his relocation to Australia earlier this year to pursue a new opportunity in the resources sector and, on behalf of everyone at Anglesey, we wish him well in his future endeavours.”
Additional Information:
Mr. Robert Douglas James Hall (age 63) does not hold any ordinary shares or related securities in the Company.
The Company confirms that there is no other information that is required to be disclosed under Schedule 2(g) of the AIM Rules for Companies in respect of Mr. Hall.
End
For further information, please contact:
Anglesey Mining plc
Rob Marsden, Chief Executive – Tel: +44 (0)7531 475111
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
LEI: 213800X8BO8EK2B4HQ71
Anglesey Mining #AYM – Directorate Change
Anglesey Mining plc (AIM:AYM), announces that Namrata Verma has informed the Board of her decision to resign as a non-executive director of the Company with immediate effect in order to pursue other interests.
Andrew King, Interim Chairman of Anglesey Mining, commented: “On behalf of the Board of Anglesey, I would like to thank Namrata for her contribution to the Company and we wish her well for the future. The Board intends to initiate a process to recruit a new non-executive director and we will update the market as appropriate in due course.“
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.
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
Anglesey Mining #AYM – Result of Placing and Subscription
Anglesey Mining Plc (AIM:AYM) is pleased to announce that, further to its announcement of 7 a.m.. (London time) on 28 June 2024, it has successfully completed and closed the Placing and Subscription.
The Placing and Subscription raised, in aggregate, gross proceeds of £415,000. The Placing comprises the placing of 32,500,000 Ordinary Shares (the “Placing Shares”) with certain institutional and other investors at a price of 1 pence per share (the “Issue Price”), and the Subscription comprised a subscription of 9,000,000 Ordinary Shares (“Subscription Shares“) at a price of 1 pence per share.
The Placing and Subscription is conditional on, amongst other matters, Admission.
The net proceeds of the Placing and Subscription will be applied to developmental work at Parys Mountain, advancing development options at Grängesberg Iron Ore Mine, debt repayment; and general working capital purposes.
The Company has been notified of the following participants in the Subscription (conditional only on admission of the Subscription Shares to trading on AIM):
PDMR Participation in the Subscription
| Name | Role | Ordinary Shares subscribed for in the Subscription | Total Holding of the enlarged Share Capital after the Subscription | Percentage holding of the enlarged Share Capital after the Placing and Subscription |
| Rob Marsden | Chief Executive Officer | 1,000,000 | 1,251,103 | 0.27 |
| Andrew King | Interim-Chairman | 2,000,000 | 2,000,000 | 0.43 |
Substantial Shareholder Participation
Energold Minerals Inc. has subscribed for 6,000,000 Ordinary Shares in the Subscription increasing its total holding in the Company to 95,108,204 Ordinary Shares (being 20.6% of the enlarged share capital of the Company after completion of the Placing and the Subscription).
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for admission of the Placing Shares and the Subscription Shares, (being a total of 41,500,000 Ordinary Shares) to trading on AIM. It is expected that admission will become effective and dealings in the Placing Shares commence on AIM at 8.00 a.m. on 04 July 2024 (or such later date as may be agreed between the Company and the Bookrunner, but no later than 28 July 2024).
The Placing Shares and the Subscription Shares will be issued fully paid and will rank pari passu in all respects with the Company’s existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 461,593,017 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company’s share capital pursuant to (i) the Company’s Articles, (ii) the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.
Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in the Company’s announcement made at 7.00 a.m. on 28 June 2024, unless the context requires otherwise.
For further information on the Company, please visit www.angleseymining.co.uk or contact:
Enquiries:
Anglesey Mining Plc www.angleseymining.co.uk
Rob Marsden, Chief Executive Officer Tel: +44 (0)7531 475111
Andrew King, Interim-Chairman Tel: +44 (0)7825 963700
Davy (Nominated Adviser & Joint Broker)
Brian Garrahy Tel: +353 1 679 6363
Daragh O’Reilly
WH Ireland Limited (Joint Broker & Bookrunner)
Harry Ansell Tel: +44 (0) 207 220 1666
Katy Mitchell
Anglesey Mining #AYM – Proposed Placing and Subscription to raise approximately £415,000
Anglesey Mining Plc (AIM:AYM) is pleased to announce its intention to raise gross proceeds of approximately £325,000 by means of a proposed placing (the “Placing”) of approximately 32,500,000 new ordinary shares of nominal value £0.01 (“Ordinary Shares”) each in the capital of the Company (the “Placing Shares”), to certain institutional and other investors, and a direct subscription of 9,000,000 new ordinary shares, to raise approximately £90,000 (the “Subscription”) (together the “Fundraising”), in each case at a price of 1p pence per share (the “Issue Price”).
Rob Marsden and Andrew King are directors of the Company and have indicated their intention to subscribe for new Ordinary Shares as part of a subscription. Energold Minerals Inc. has also indicated its intention to subscribe for new Ordinary Shares as part of a subscription.
The Issue Price represents a discount of approximately 16.67 per cent. to the Closing Price of 1.2 pence per Ordinary Share on 27 June 2024 being the latest practicable business day prior to the publication of this Announcement.
The Placing is to be conducted by way of an accelerated bookbuild (the “Bookbuild”) process which will commence immediately following this Announcement and will be subject to the terms and conditions set out in the Appendix to this Announcement.
The Placing and Subscription is conditional on, amongst other matters, admission of the Placing Shares and the Subscription Shares to trading on AIM.
A further announcement confirming the closing of the Bookbuild and the number of Placing Shares and Subscription Shares to be issued pursuant to the Placing and Subscription is expected to be made in due course.
WH Ireland Limited (“WH Ireland”) is acting as bookrunner in relation to the Placing.
Capitalised terms used but not otherwise defined in this Announcement shall have the meanings ascribed to such terms at the end of the Appendix to this Announcement, unless the context requires otherwise.
Fundraising Highlights
- Placing and Subscription to raise approximately £415,000 (before expenses) from certain existing shareholders and other institutional investors.
- Placing to be conducted via an accelerated bookbuild process launching today.
- Issue Price of 1 pence per share represents a discount of 16.67 per cent. to the closing mid-market price of the Company’s existing Ordinary Shares on 27 June 2024, being the latest practicable business day prior to the publication of this Announcement.
- Certain directors of the Company have also indicated their intention to participate in the Subscription at the Issue Price.
Reasons for the Fundraise, Use of Proceeds and Transaction Summary
The Company is undertaking the Fundraise to progress its corporate and operational strategy and the net proceeds will therefore be applied towards:
- Developmental work at Parys Mountain
- Advancing development options at Grängesberg Iron Ore Mine
- Debt repayment; and
- General working capital purposes
The Company is advancing a number of initiatives with a view to supporting its cash position, however if these are not successful the Company will need to raise further funds towards the end of the calendar year to continue to progress its activities.
The Placing and Subscription
The Company intends to raise gross proceeds of up to £415,000 (before expenses) from participants in the Placing and Subscription.
WH Ireland is acting as Bookrunner (“Bookrunner”) in connection with the Placing. The Placing Shares are being offered by way of an accelerated bookbuild (the “Bookbuild”), which will be launched immediately following this Announcement, in accordance with the terms and conditions set out in the Appendix to this Announcement.
Admission of the Placing Shares is conditional, inter alia, upon the placing agreement dated 27 June 2024 between the Company and the Bookrunner (the “Placing Agreement”) not having been terminated and becoming unconditional prior to 04 July 2024 (or such later time and / or date as the Company and Bookrunner shall agree, not being later than 28 July 2024).
The Placing is also conditional upon, amongst other things:
- admission of the Placing Shares becoming effective by no later than 8.00 a.m. on 04 July 2024 (or such later time and / or date as the Company and Bookrunner shall agree, not being later than 28 July 2024);
• the delivery by the Company to the Bookrunner of certain documents required under the Placing Agreement;
• the Company having fully performed its obligations under the Placing Agreement to the extent that such obligations fall to be performed prior to admission of the Placing Shares;
• the Placing Agreement not having been terminated by the Bookrunner in accordance with its terms.
The timing of the closure of the Bookbuild and the allocation of the Placing Shares to be issued at the Issue Price are to be determined at the discretion of the Company and the Bookrunner.
Admission to trading
Application will be made to the London Stock Exchange for admission of the Placing Shares and the Subscription Shares to trading on AIM. It is expected that admission will become effective and dealings in the Placing Shares and Subscription Shares will commence at 8.00 a.m. on or around 04 July 2024.
The Placing Shares and Subscription Shares will be issued fully paid and will rank pari passu in all respects with the Company’s existing Ordinary Shares.
A further announcement will be made following the closure of the Bookbuild, confirming final details of the Placing.
The Placing is not being underwritten and the Placing is not conditional on a minimum amount being raised.
The person responsible for arranging for the release of this announcement on behalf of Anglesey is Rob Marsden.
For further information on the Company, please visit www.angleseymining.co.uk or contact:
Enquiries:
Anglesey Mining Plc www.angleseymining.co.uk
Rob Marsden, Chief Executive Officer Tel: +44 (0)7531 475111
Andrew King, Interim-Chairman Tel: +44 (0)7825 963700
Davy (Nominated Adviser & Joint Broker)
Brian Garrahy / Daragh O’Reilly Tel: +353 1 679 6363
WH Ireland Limited (Joint Broker and Bookrunner)
Harry Ansell / Daniel Bristowe Tel: +44 (0) 207 220 1666
Katy Mitchell / Andrew de Andrade
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
A Perfect Storm and Copper Bottomed Squeeze – by Jill Baker
by Jill Baker
That so many analysts have been caught napping as the copper price ‘unexpectedly’ broke to new highs is something of a surprise, particularly given the compelling economic drivers that have been clearly signalling a supply squeeze for some years.
Copper is thought to be the first metal humans discovered, dating back well over 10,000 years. Previously the price was kept in check due to the fact that in general copper is more abundant than the majority of non-ferrous metals. It’s historical uses in cookware, tools and fittings, along with its durability, conductivity and even anti-bacterial properties have ensured copper’s iconic status in the world of metals.
However, the emergence of new industries in clean technology and EV production have created an added impetus and urgency to sourcing new copper supplies. This increase in demand has also coincided with a forecast fall in production for the next few years (see Fig 1 – courtesy Refinitiv) opposite.
The first few months of 2024 has seen copper analysts hastily rewrite their scripts and switch to forecasts for deeper deficits, while striking redlines through previous forecasts for expected surpluses.
Some copper bulls have stuck to their guns: Goldman Sachs sees copper trading at $10,000 / tonne by the end of 2024, Capital Economics forecasts a year end price of $9,250 and ANZ sees the metal trading above $10,000 / tonne over the next 12 months.
But with the price rocketing skywards, even these latest forecasts are looking out of date. Along with gold, copper has broken out of a recent trading range and at time of writing (April 19 2024) stands at $9,651 / tonne (see Fig 2 opposite – courtesy Markets Insider).
And Jeremy Weir, CEO of commodity giant Trafigura believes that there will be a potential supply gap of 8m tonnes by 2034, fully supporting $10,000 / tonne and possibly as high as $12,000 / tonne.
So copper is faced with a perfect backdrop: an increase in demand and a fall in production. Both are combining to drive the copper price much, much higher. The ramifications for Governments seeking to meet net zero commitments are huge. Equally, the fortunes of mining juniors holding copper assets looks set to change dramatically. Historically uneconomic and / or dormant projects are being hurriedly revisited as the record high copper prices validate and bring back to life historically uneconomical projects.
Two companies outlined here both have copper projects at different stages of development, and in each case the share prices of both companies have yet to catch up with the rocketing copper price and benefit from the perfect storm and copper bottomed squeeze.
Early Stage:
Aquis listed VVV Resources (AQX: VVV) is building a new portfolio in a user-friendly, low-risk, prolific and historic copper region of Austria. Last October, VVV acquired the Mitterberg Copper Project in Austria, considered the largest copper occurrence in the area defined as the Eastern Alps and also a “brownfield” site. It is reported that copper mining commenced during prehistoric times and recommenced around 1830 until 1977 when the mines were closed due to low copper prices at the time.
According to historic data, more than 120,000 tonnes of copper have been extracted and during the 1970’s it is reported that approximately 200,000 tonnes of copper-rich mineralisation with an average copper grade of 1.4% was mined annually. Mitterberg is located approximately 60 kilometres south of Salzburg, Austria and comprises 198 contiguous exploration licences over an area of some 90 square kilometres.
Although trading at 10.5p per share with a market cap of just £730,000, VVV has just appointed Ben Hill, former Head of Legal at RAB Capital and Senior Advisor for The Growth Stage to the board in order to structure a funding package to enable VVV to fast track Mitterberg development. Chairman and mining industry veteran Jim Williams said that the surge in copper prices, and expected supply squeeze, meant that the development of Mitterberg was “of the utmost importance”, and that Ben Hill and his network “possessed the necessary corporate skills to assist in generating traction and liquidity.”
Later Stage:
Aside from owning a 50% stake in the Grängesberg Iron Ore Project in Sweden and 11% of Labrador Iron Mines Holdings Ltd in Canada, AIM listed Anglesey Mining (AIM: AYM) is the owner of the famous Parys Mountain mine in Anglesey, Wales. Currently engaged in a drilling programme, Parys Mountain hosts a significant polymetallic zinc, copper, lead, silver and gold deposit. A head frame and a 300m deep production shaft already exists, along with planning permission for operations and freehold ownership of the minerals and land. Added to this the local infrastructure is good, political risk is low and the project enjoys the support of local people and government.
Early results from a recent drilling campaign have indicated potential for significant upside to an existing 5 million tonnes of copper within the 2021 Preliminary Economic Assessment. Current drilling has demonstrated good continuity with previous drilling results, further supporting the integrity of the geological model and identifying a large mineralised zone in excess of 100m thick. In the words of Chairman Andrew King, Parys Mountain is “demonstrably the largest and most advanced copper project in the UK with substantial resource upside still evident.”
Anglesey have made a prescient appointment in the form of mining engineer and former Rio Tinto investment committee head Rob Marsden as its new Chief Executive to fast track the drilling programme and bring the Parys Mountain onstream. Despite the pace of developments, the existing infrastructure and new appointment, bafflingly the share price remains rooted at 1.4p, giving Anglesey a current market capitalisation of just £6m.
Anglesey Mining #AYM – Appointment of new CEO
Anglesey Mining plc (AIM:AYM), 100% owner of the Parys Mountain Cu-Zn-Pb-Ag-Au VMS deposit in Anglesey, North Wales, is pleased to announce the appointment of Robert (“Rob”) Marsden to the Board as Chief Executive Officer with effect from 1st May 2024.
Rob is a Mining Engineer with 29 years of international experience. Upon graduation from the Camborne School of Mines in 1995 he joined Rio Tinto plc and over the next 18 years held several technical, operational and management roles , living and working in South Africa, Australia, France and the USA, and was latterly employed in the Business Evaluation Department at Rio Tinto’s head office in London.
In 2013 Rob founded his own consultancy, MarsdenGray, based in the UK, to draw together his unique blend of technical, financial and practical experience, providing clients with clear robust insights into the planning, operation and evaluation of mining projects.
During his career, Rob has gained experience across a wide range of commodities including copper, diamonds, gold, silver, coal, industrial minerals, and iron ore with on the ground assignments around the world, including Australia, Botswana, Brazil, Chile, Canada, Ghana, Madagascar, Peru, South Africa and Zimbabwe.
Rob is a Member of the Institute of Materials, Minerals and Mining (IOM), Qualified for Mineral Reporting (by IOM), is a Fellow of the Geological Society (London) and an Associate of the Camborne School of Mines.
View Rob’s LinkedIn profile here.
Andrew King, Interim Chairman of Anglesey Mining, commented: “On behalf of the Anglesey Mining board, we are delighted to welcome Rob as our new CEO to head up the development of the Parys Mountain project and optimise the Company’s iron ore investments. In setting our brief for the role, we knew the right candidate had to be not only an experienced mining executive, but a person also in possession of the requisite corporate skills to step into a high-profile role and engage with all stakeholders, including our shareholders and the community and local government in regions in which the Company operates. Rob possesses an abundance of experience, both as an engineer and as an accomplished operator at an executive level. Having already spent some time with him at Parys Mountain, it is clear Rob has the skillset to oversee the evolution and development of Parys Mountain and, like us, he is enthused by the latest drilling results and grade continuity. As we await the assay results for drill hole NCZ003, I am very much looking forward to his input and perspective as we seek to progress both this project and the Company more generally in the future.”
Incoming CEO Rob Marsden commented: “I am pleased and excited to be joining Anglesey Mining as CEO at such a pivotal time for the Company and the Parys Mountain project. I very much enjoyed spending time at the mine with Andrew and former CEO Jo Battershill, meeting the Team and examining the latest exploration drill cores, and I’m looking forward to starting work and building on the exciting opportunities I see at Anglesey.”
The following information relating to Robert Hanning Marsden is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:
Current directorships and/or partnerships
MarsdenGray Ltd. 9th September 2013 to present
Former directorships and/or partnerships (within the last five years)
- Lorenzo Investments Plc 2nd February 2021 to 24th October 2023
- NRR Group Pty Ltd. (Australian company) 13th October 2020 to 22nd March 2021
As at the date of this announcement, Mr. Marsden holds 251,103 Ordinary Shares in Anglesey. There are no further disclosures required under Schedule Two paragraph (g) of the AIM Rules for Companies.
For further information, please contact:
Anglesey Mining plc
Andrew King, Interim-Chairman – Tel: +44 (0)7825 963700
Jo Battershill, Non-Executive Director – Tel: +44 (0)7540 366000
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
LEI: 213800X8BO8EK2B4HQ71
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
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 the assay results have been received for the recently completed drill hole NCZ002. Drill hole NCZ002 was the second 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 with historical drilling, assays confirm that NCZ002 intersected a significant zone of mineralisation across the NCZ with 114m @ 1.0% CuEq (including internal dilution). Within the broad mineralised envelope, there are numerous higher-grade zones. These demonstrate good continuity with previous drilling results and further support the integrity of the geological model and drill targeting.
Key intersections within the broad zone of mineralisation are detailed below:
Northern Copper Zone – Hole NCZ002
- 0m @ 0.9% Cu, 0.09% Zn, 0.1% Pb, 4.2g/t Ag and 0.17g/t Au (1.0% CuEq) from a depth of 426m, including:
- 3m @ 2.6% Cu, 3.2g/t Ag and 0.86g/t Au (2.8% CuEq) from 426.0m
- 1m @ 0.9% Cu, 4.6g/t Ag and 0.11g/t Au (1.0% CuEq) from 448.3m, including:
- 4m @ 1.9% Cu, 0.26% Pb, 0.22% Zn, 13.2g/t Ag and 0.22g/t Au (2.1% CuEq)
- 0m @ 0.6% Cu, 3.1% Pb, 1.9% Zn, 47.9g/t Ag and 0.09g/t Au (2.0% CuEq / 7.1% ZnEq) from 483.0m
- 5m @ 2.2% Cu, 1.1% Pb, 0.3% Zn, 47.3g/t Ag and 0.14g/t Au (2.7% CuEq / 7.5% ZnEq) from 484.5m
- 4m @ 1.0% Cu, 0.16% Pb, 0.26% Zn, 4.4g/t Ag and 0.16g/t Au (1.1% CuEq / 3.1% ZnEq) from 486.6m
- 5m @ 1.4% Cu, 3.5g/t Ag and 0.44g/t Au (1.6% CuEq) from 508.5m, including:
- 0m @ 3.0% Cu, 6.3g/t Ag and 1.20g/t Au (3.4% CuEq) from 515m
***CuEq grades are based on recovery factors and commodity prices as detailed after the tabulated reported assays of this release***
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 excited 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.“
“Both NCZ001 and NCZ002 have delivered some exceptional high-grade copper intersections, including 11m at 3.4% CuEq, 22m at 3.2% CuEq, 6.3m at 2.8% CuEq and 9.4m at 2.1% CuEq, within broad thicknesses of mineralisation up to 100m wide. The results continue to support our view that the Northern Copper Zone provides significant upside for the Parys Mountain project, over and above the 5 million tonne contribution included within the 2021 Preliminary Economic Assessment.
“The third drill hole, NCZ003, is currently at a depth of around 450 metres. The geological and drill targeting model anticipated the Northern Copper Zone to commence at a downhole depth of around 400 metres. Once again, the model has been validated by these latest results from NCZ002 and we look forward to providing a further update once drilling of NCZ003 is complete.”
Northern Copper Zone – Cross Section 4600mE
Section 4600mE below highlights the position of the recently completed drill hole NCZ002 and the up-dip position of NCZ003, which is currently being drilled.
The interpreted outline of the Northern Copper Zone in the cross-section does not imply an economic outcome, it simply highlights where sulphides have been identified within the Northern Shales. A significant number of the drill holes within this zone have returned consistent zones of higher-grade material, which is a key target of the current program. The recognition of a shear zone along the hanging wall of the Northern Copper Zone 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 Northern Copper Zone has intersected broad zones of sulphides; and the current drilling is demonstrating the predictability of the mineralised zone from the detailed geological model that has been constructed and refined over several years.
The current drill hole, NCZ003, is targeting the up-dip area above historical hole H17A and could potentially provide additional information relating to the key lithology Rhyolite B, which included an intersection of 9.2m @ 2.7% CuEq in drill hole A15.
Northern Copper Zone – 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 Northern Copper Zone. With the completion of NCZ001, 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) | |
| NCZ002 | 243818 | 390943 | 72.0 | 165 | -80 | 575 |
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
(%)* |
|
| NCZ002 | 203.9 | 204.4 | 0.50 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 215 | 215.5 | 0.50 | 0.02 | 0.01 | 0.00 | 0.5 | 0.008 | 0.03% |
| NCZ002 | 235 | 235.5 | 0.50 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 243.2 | 243.7 | 0.50 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 253.5 | 254 | 0.50 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 256.3 | 256.8 | 0.50 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 260.2 | 260.7 | 0.50 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 261.7 | 262.2 | 0.50 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 267.9 | 268.4 | 0.50 | 0.01 | 0.01 | 0.01 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 273.4 | 273.9 | 0.50 | 0.00 | 0.01 | 0.00 | 0.5 | 0.025 | 0.02% |
| NCZ002 | 303.5 | 304 | 0.50 | 0.08 | 0.00 | 0.00 | 0.5 | 0.007 | 0.08% |
| NCZ002 | 348 | 348.5 | 0.50 | 0.00 | 0.00 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 351.6 | 352.1 | 0.50 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 368 | 369 | 1.00 | 0.02 | 0.01 | 0.01 | 1.0 | 0.33 | 0.16% |
| NCZ002 | 369 | 370 | 1.00 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 370 | 371 | 1.00 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 371 | 372 | 1.00 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 372 | 373 | 1.00 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 373 | 374 | 1.00 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 374 | 375 | 1.00 | 0.00 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 406 | 406.5 | 0.50 | 0.00 | 0.00 | 0.00 | 0.5 | 0.023 | 0.02% |
| NCZ002 | 410 | 410.5 | 0.50 | 0.12 | 0.01 | 0.01 | 0.5 | 0.066 | 0.14% |
| NCZ002 | 413.5 | 414 | 0.50 | 2.11 | 0.01 | 0.01 | 1.5 | 0.039 | 1.99% |
| NCZ002 | 415 | 416 | 1.00 | 0.00 | 0.00 | 0.00 | 0.5 | 0.01 | 0.01% |
| NCZ002 | 416 | 417 | 1.00 | 0.00 | 0.00 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 417 | 418 | 1.00 | 0.12 | 0.01 | 0.00 | 0.5 | 0.006 | 0.12% |
| NCZ002 | 418 | 419 | 1.00 | 0.36 | 0.01 | 0.00 | 0.7 | 0.017 | 0.35% |
| NCZ002 | 419 | 420 | 1.00 | 0.11 | 0.01 | 0.00 | 0.5 | 0.008 | 0.11% |
| NCZ002 | 420 | 421 | 1.00 | 0.05 | 0.01 | 0.00 | 0.5 | 0.008 | 0.06% |
| NCZ002 | 421 | 422 | 1.00 | 0.54 | 0.00 | 0.00 | 1.0 | 0.071 | 0.54% |
| NCZ002 | 422 | 423 | 1.00 | 0.20 | 0.01 | 0.01 | 1.8 | 0.025 | 0.21% |
| NCZ002 | 423 | 424 | 1.00 | 0.12 | 0.01 | 0.00 | 0.6 | 0.01 | 0.12% |
| NCZ002 | 424 | 425 | 1.00 | 0.14 | 0.01 | 0.00 | 0.5 | 0.013 | 0.14% |
| NCZ002 | 425 | 426 | 1.00 | 0.41 | 0.04 | 0.01 | 1.2 | 0.022 | 0.41% |
| NCZ002 | 426 | 427 | 1.00 | 0.59 | 0.26 | 0.06 | 3.8 | 0.257 | 0.76% |
| NCZ002 | 427 | 428 | 1.00 | 3.24 | 0.01 | 0.01 | 3.0 | 0.272 | 3.15% |
| NCZ002 | 428 | 429 | 1.00 | 1.26 | 0.02 | 0.01 | 1.6 | 0.278 | 1.30% |
| NCZ002 | 429 | 430 | 1.00 | 2.26 | 0.01 | 0.01 | 2.6 | 1.215 | 2.61% |
| NCZ002 | 430 | 431 | 1.00 | 2.70 | 0.00 | 0.01 | 2.9 | 1.18 | 3.01% |
| NCZ002 | 431 | 431.6 | 0.60 | 6.18 | 0.01 | 0.01 | 5.4 | 1.15 | 6.25% |
| NCZ002 | 431.6 | 432.3 | 0.70 | 3.85 | 0.01 | 0.01 | 4.4 | 2.19 | 4.50% |
| NCZ002 | 433.7 | 434.3 | 0.60 | 0.19 | 0.01 | 0.00 | 0.5 | 0.023 | 0.19% |
| NCZ002 | 434.3 | 435 | 0.70 | 0.23 | 0.01 | 0.00 | 0.5 | 0.041 | 0.23% |
| NCZ002 | 435 | 436 | 1.00 | 0.20 | 0.01 | 0.01 | 0.6 | 0.071 | 0.22% |
| NCZ002 | 436 | 437 | 1.00 | 0.39 | 0.02 | 0.00 | 1.2 | 0.082 | 0.41% |
| NCZ002 | 437 | 438 | 1.00 | 0.65 | 0.01 | 0.00 | 1.3 | 0.341 | 0.75% |
| NCZ002 | 438 | 439 | 1.00 | 0.04 | 0.01 | 0.00 | 0.5 | 0.021 | 0.05% |
| NCZ002 | 439 | 440 | 1.00 | 0.16 | 0.01 | 0.00 | 0.5 | 0.012 | 0.16% |
| NCZ002 | 440 | 441 | 1.00 | 0.51 | 0.05 | 0.00 | 0.5 | 0.053 | 0.51% |
| NCZ002 | 441 | 442 | 1.00 | 0.64 | 0.01 | 0.00 | 0.7 | 0.136 | 0.66% |
| NCZ002 | 442 | 443 | 1.00 | 0.56 | 0.03 | 0.03 | 1.6 | 0.299 | 0.67% |
| NCZ002 | 443 | 444 | 1.00 | 0.33 | 0.01 | 0.01 | 0.5 | 0.124 | 0.36% |
| NCZ002 | 444 | 445 | 1.00 | 0.35 | 0.01 | 0.00 | 0.5 | 0.035 | 0.35% |
| NCZ002 | 445 | 446 | 1.00 | 0.24 | 0.01 | 0.00 | 1.2 | 0.051 | 0.25% |
| NCZ002 | 446 | 446.8 | 0.80 | 0.54 | 0.01 | 0.01 | 0.6 | 0.023 | 0.51% |
| NCZ002 | 447.5 | 448.3 | 0.80 | 0.07 | 0.01 | 0.00 | 0.7 | 0.019 | 0.08% |
| NCZ002 | 448.3 | 449 | 0.70 | 0.03 | 0.01 | 0.00 | 0.5 | 0.006 | 0.04% |
| NCZ002 | 449 | 450 | 1.00 | 0.17 | 0.01 | 0.00 | 0.5 | 0.028 | 0.17% |
| NCZ002 | 450 | 451 | 1.00 | 0.07 | 0.01 | 0.00 | 0.5 | 0.012 | 0.08% |
| NCZ002 | 451 | 452 | 1.00 | 0.07 | 0.01 | 0.00 | 0.5 | 0.012 | 0.08% |
| NCZ002 | 452 | 453 | 1.00 | 0.39 | 0.01 | 0.00 | 0.5 | 0.029 | 0.38% |
| NCZ002 | 453 | 454 | 1.00 | 0.50 | 0.01 | 0.00 | 0.5 | 0.014 | 0.48% |
| NCZ002 | 454 | 455 | 1.00 | 0.46 | 0.05 | 0.03 | 2.6 | 0.173 | 0.53% |
| NCZ002 | 455 | 456 | 1.00 | 0.07 | 0.01 | 0.01 | 0.5 | 0.017 | 0.08% |
| NCZ002 | 456 | 457 | 1.00 | 0.07 | 0.01 | 0.02 | 0.5 | 0.015 | 0.08% |
| NCZ002 | 457 | 458 | 1.00 | 0.78 | 0.04 | 0.03 | 2.4 | 0.113 | 0.80% |
| NCZ002 | 458 | 459 | 1.00 | 0.43 | 0.01 | 0.03 | 1.0 | 0.041 | 0.43% |
| NCZ002 | 459 | 460 | 1.00 | 4.24 | 0.01 | 0.01 | 3.5 | 0.027 | 3.98% |
| NCZ002 | 460 | 461 | 1.00 | 0.05 | 0.01 | 0.01 | 0.6 | 0.045 | 0.07% |
| NCZ002 | 461 | 462 | 1.00 | 0.49 | 0.01 | 0.03 | 2.3 | 0.151 | 0.54% |
| NCZ002 | 462 | 463 | 1.00 | 0.41 | 0.01 | 0.01 | 1.3 | 0.11 | 0.44% |
| NCZ002 | 463 | 464 | 1.00 | 0.10 | 0.01 | 0.01 | 0.6 | 0.063 | 0.13% |
| NCZ002 | 464 | 465 | 1.00 | 0.69 | 0.01 | 0.01 | 0.8 | 0.037 | 0.66% |
| NCZ002 | 465 | 466 | 1.00 | 1.43 | 0.01 | 0.02 | 2.6 | 0.143 | 1.41% |
| NCZ002 | 466 | 467 | 1.00 | 0.15 | 0.01 | 0.01 | 1.3 | 0.043 | 0.17% |
| NCZ002 | 467 | 468 | 1.00 | 0.22 | 0.01 | 0.01 | 1.1 | 0.06 | 0.24% |
| NCZ002 | 468 | 469 | 1.00 | 0.74 | 0.01 | 0.02 | 1.9 | 0.135 | 0.76% |
| NCZ002 | 469 | 470 | 1.00 | 0.48 | 0.01 | 0.03 | 2.8 | 0.122 | 0.52% |
| NCZ002 | 470 | 471 | 1.00 | 0.27 | 0.00 | 0.01 | 0.8 | 0.071 | 0.29% |
| NCZ002 | 471 | 472 | 1.00 | 0.13 | 0.01 | 0.01 | 0.5 | 0.036 | 0.14% |
| NCZ002 | 472 | 473 | 1.00 | 0.32 | 0.01 | 0.01 | 1.1 | 0.057 | 0.33% |
| NCZ002 | 473 | 474 | 1.00 | 2.82 | 0.72 | 1.26 | 25.8 | 0.11 | 3.27% |
| NCZ002 | 474 | 475 | 1.00 | 2.90 | 0.01 | 0.03 | 5.6 | 0.312 | 2.87% |
| NCZ002 | 475 | 476 | 1.00 | 3.29 | 0.10 | 0.08 | 11.2 | 0.591 | 3.41% |
| NCZ002 | 476 | 477 | 1.00 | 2.47 | 0.68 | 0.57 | 40.9 | 0.248 | 2.95% |
| NCZ002 | 477 | 478 | 1.00 | 2.70 | 0.06 | 0.25 | 19.9 | 0.193 | 2.78% |
| NCZ002 | 478 | 479 | 1.00 | 1.25 | 0.02 | 0.05 | 4.8 | 0.153 | 1.26% |
| NCZ002 | 479 | 480 | 1.00 | 0.73 | 0.13 | 0.07 | 4.8 | 0.142 | 0.81% |
| NCZ002 | 480 | 481 | 1.00 | 0.65 | 0.37 | 0.10 | 7.3 | 0.081 | 0.81% |
| NCZ002 | 481 | 482 | 1.00 | 0.76 | 0.01 | 0.02 | 3.2 | 0.186 | 0.81% |
| NCZ002 | 482 | 482.4 | 0.40 | 0.74 | 0.01 | 0.03 | 2.0 | 0.046 | 0.73% |
| NCZ002 | 483 | 483.95 | 0.95 | 0.57 | 1.87 | 3.09 | 47.9 | 0.093 | 1.98% |
| NCZ002 | 484.5 | 485 | 0.50 | 2.16 | 0.25 | 1.14 | 47.3 | 0.137 | 2.64% |
| NCZ002 | 486.6 | 487 | 0.40 | 1.92 | 0.72 | 0.64 | 16.1 | 0.128 | 2.26% |
| NCZ002 | 487 | 488 | 1.00 | 0.65 | 0.68 | 0.32 | 3.9 | 0.156 | 0.95% |
| NCZ002 | 488 | 489 | 1.00 | 1.63 | 0.06 | 0.05 | 4.5 | 0.091 | 1.61% |
| NCZ002 | 489 | 490 | 1.00 | 0.43 | 0.02 | 0.03 | 2.4 | 0.039 | 0.44% |
| NCZ002 | 490 | 491 | 1.00 | 0.72 | 0.08 | 0.06 | 2.3 | 0.362 | 0.87% |
| NCZ002 | 491 | 492 | 1.00 | 0.20 | 0.01 | 0.01 | 1.4 | 0.068 | 0.23% |
| NCZ002 | 492 | 493 | 1.00 | 0.02 | 0.00 | 0.00 | 0.5 | 0.005 | 0.03% |
| NCZ002 | 493 | 494 | 1.00 | 0.05 | 0.25 | 0.13 | 0.9 | 0.023 | 0.16% |
| NCZ002 | 494 | 495 | 1.00 | 0.05 | 0.01 | 0.00 | 0.5 | 0.007 | 0.06% |
| NCZ002 | 495 | 496 | 1.00 | 0.03 | 0.00 | 0.00 | 0.5 | 0.008 | 0.04% |
| NCZ002 | 496 | 497 | 1.00 | 0.01 | 0.00 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 497 | 498 | 1.00 | 0.01 | 0.01 | 0.00 | 0.5 | 0.005 | 0.02% |
| NCZ002 | 498 | 499 | 1.00 | 0.02 | 0.00 | 0.00 | 0.5 | 0.011 | 0.03% |
| NCZ002 | 499 | 500 | 1.00 | 0.01 | 0.00 | 0.00 | 0.5 | 0.007 | 0.02% |
| NCZ002 | 500 | 501 | 1.00 | 0.09 | 0.01 | 0.00 | 0.8 | 0.013 | 0.10% |
| NCZ002 | 501 | 502 | 1.00 | 0.11 | 0.21 | 0.36 | 1.3 | 0.065 | 0.26% |
| NCZ002 | 502 | 503 | 1.00 | 0.01 | 0.00 | 0.00 | 0.5 | 0.009 | 0.02% |
| NCZ002 | 508.5 | 509 | 0.50 | 1.23 | 0.01 | 0.01 | 11.4 | 0.22 | 1.31% |
| NCZ002 | 509 | 510 | 1.00 | 0.22 | 0.00 | 0.00 | 0.7 | 0.037 | 0.23% |
| NCZ002 | 510 | 511 | 1.00 | 0.61 | 0.00 | 0.01 | 1.1 | 0.078 | 0.61% |
| NCZ002 | 511 | 512 | 1.00 | 0.23 | 0.01 | 0.01 | 0.9 | 0.025 | 0.23% |
| NCZ002 | 512 | 513 | 1.00 | 0.32 | 0.01 | 0.03 | 2.1 | 0.014 | 0.33% |
| NCZ002 | 513 | 514 | 1.00 | 0.35 | 0.06 | 0.03 | 1.3 | 0.027 | 0.37% |
| NCZ002 | 514 | 515 | 1.00 | 0.83 | 0.04 | 0.03 | 1.6 | 0.051 | 0.82% |
| NCZ002 | 515 | 516 | 1.00 | 1.32 | 0.28 | 0.11 | 4.6 | 0.825 | 1.69% |
| NCZ002 | 516 | 517 | 1.00 | 1.97 | 0.02 | 0.01 | 4.4 | 2.24 | 2.78% |
| NCZ002 | 517 | 518 | 1.00 | 1.34 | 0.12 | 0.06 | 5.1 | 0.554 | 1.55% |
| NCZ002 | 518 | 519 | 1.00 | 4.06 | 0.83 | 0.61 | 11.0 | 5.06 | 6.25% |
| NCZ002 | 519 | 520 | 1.00 | 4.60 | 0.07 | 0.02 | 7.9 | 2.21 | 5.25% |
| NCZ002 | 520 | 521 | 1.00 | 1.53 | 0.01 | 0.00 | 3.1 | 0.407 | 1.61% |
| NCZ002 | 521 | 522 | 1.00 | 5.00 | 0.10 | 0.01 | 8.7 | 1.17 | 5.21% |
| NCZ002 | 522 | 523 | 1.00 | 6.57 | 0.02 | 0.02 | 11.0 | 0.438 | 6.37% |
| NCZ002 | 523 | 524 | 1.00 | 0.83 | 0.06 | 0.07 | 2.5 | 0.071 | 0.85% |
| NCZ002 | 524 | 525 | 1.00 | 4.13 | 0.04 | 0.01 | 7.8 | 0.179 | 3.97% |
| NCZ002 | 525 | 526 | 1.00 | 1.12 | 0.10 | 0.04 | 3.1 | 0.049 | 1.12% |
| NCZ002 | 526 | 527 | 1.00 | 0.03 | 0.01 | 0.00 | 0.5 | 0.008 | 0.04% |
| NCZ002 | 527 | 528 | 1.00 | 0.12 | 0.14 | 0.04 | 0.5 | 0.006 | 0.16% |
| NCZ002 | 528 | 529 | 1.00 | 0.06 | 0.06 | 0.07 | 0.6 | 0.008 | 0.09% |
| NCZ002 | 529 | 530 | 1.00 | 1.43 | 0.13 | 0.10 | 6.0 | 0.042 | 1.44% |
| NCZ002 | 530 | 531 | 1.00 | 0.21 | 0.01 | 0.00 | 0.7 | 0.027 | 0.21% |
| NCZ002 | 531 | 532 | 1.00 | 0.25 | 0.02 | 0.01 | 0.7 | 0.021 | 0.25% |
| NCZ002 | 532 | 533 | 1.00 | 0.18 | 0.01 | 0.00 | 1.0 | 0.041 | 0.20% |
| NCZ002 | 533 | 534 | 1.00 | 0.70 | 0.01 | 0.00 | 1.8 | 0.042 | 0.68% |
| NCZ002 | 534 | 535 | 1.00 | 0.56 | 0.01 | 0.00 | 1.4 | 0.026 | 0.54% |
| NCZ002 | 535 | 536 | 1.00 | 0.37 | 0.02 | 0.00 | 0.5 | 0.011 | 0.36% |
| NCZ002 | 536 | 537 | 1.00 | 1.01 | 0.05 | 0.08 | 4.0 | 0.032 | 1.00% |
| NCZ002 | 537 | 538 | 1.00 | 0.32 | 0.00 | 0.00 | 0.8 | 0.022 | 0.32% |
| NCZ002 | 538 | 539 | 1.00 | 2.35 | 0.02 | 0.01 | 5.5 | 0.045 | 2.25% |
| NCZ002 | 539 | 540 | 1.00 | 1.61 | 0.17 | 0.03 | 4.1 | 0.033 | 1.59% |
| NCZ002 | 540 | 541 | 1.00 | 0.15 | 0.04 | 0.00 | 0.5 | 0.012 | 0.16% |
| NCZ002 | 541 | 542 | 1.00 | 0.21 | 0.01 | 0.00 | 0.5 | 0.007 | 0.21% |
| NCZ002 | 542 | 543 | 1.00 | 0.16 | 0.01 | 0.00 | 0.6 | 0.029 | 0.17% |
| NCZ002 | 543 | 544 | 1.00 | 0.03 | 0.01 | 0.00 | 0.5 | 0.006 | 0.04% |
| NCZ002 | 544 | 545 | 1.00 | 0.04 | 0.02 | 0.00 | 0.5 | 0.018 | 0.06% |
| NCZ002 | 545 | 546 | 1.00 | 0.21 | 0.01 | 0.02 | 0.6 | 0.018 | 0.22% |
| NCZ002 | 546 | 547 | 1.00 | 0.34 | 0.06 | 0.04 | 1.1 | 0.02 | 0.36% |
| NCZ002 | 547 | 548 | 1.00 | 0.09 | 0.02 | 0.00 | 0.5 | 0.012 | 0.10% |
| NCZ002 | 548 | 549 | 1.00 | 0.19 | 0.01 | 0.00 | 0.7 | 0.016 | 0.19% |
| NCZ002 | 549 | 550 | 1.00 | 0.28 | 0.00 | 0.00 | 0.6 | 0.014 | 0.27% |
| NCZ002 | 550 | 551 | 1.00 | 0.13 | 0.01 | 0.00 | 0.7 | 0.029 | 0.14% |
| NCZ002 | 551 | 552 | 1.00 | 0.03 | 0.01 | 0.16 | 1.0 | 0.011 | 0.07% |
| NCZ002 | 552 | 553 | 1.00 | 0.01 | 0.01 | 0.00 | 0.5 | 0.005 | 0.01% |
| NCZ002 | 553 | 554 | 1.00 | 0.05 | 0.01 | 0.02 | 0.7 | 0.005 | 0.05% |
| NCZ002 | 554 | 555 | 1.00 | 0.02 | 0.05 | 0.03 | 0.5 | 0.005 | 0.04% |
| NCZ002 | 555 | 556 | 1.00 | 0.08 | 0.02 | 0.00 | 0.7 | 0.041 | 0.10% |
| NCZ002 | 563.7 | 564.2 | 0.50 | 0.02 | 0.01 | 0.00 | 0.5 | 0.008 | 0.03% |
| NCZ002 | 566 | 566.5 | 0.50 | 0.02 | 0.01 | 0.00 | 0.5 | 0.005 | 0.02% |
| NCZ002 | 570.5 | 571 | 0.50 | 0.02 | 0.01 | 0.01 | 0.5 | 0.005 | 0.03% |
| NCZ002 | 571 | 571.5 | 0.50 | 0.07 | 0.05 | 0.02 | 0.5 | 0.009 | 0.09% |
| NCZ002 | 571.5 | 572 | 0.50 | 0.14 | 0.61 | 0.10 | 1.1 | 0.027 | 0.34% |
| NCZ002 | 572 | 572.5 | 0.50 | 0.22 | 0.01 | 0.02 | 1.5 | 0.032 | 0.23% |
| NCZ002 | 572.5 | 573 | 0.50 | 0.02 | 0.00 | 0.00 | 0.5 | 0.005 | 0.02% |
| Total | 149.15 | ||||||||
* 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
Andrew King, Interim-Chairman – Tel: +44 (0)7825 963700
Jo Battershill, Non-Executive Director – Tel: +44 (0)7540 366000
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