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Drilling to commence at Parys Mountain in November
Drilling to commence at Parys Mountain in November.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \n Trading Symbol\n LSE: AYM\n 20 October 2021\n Anglesey Mining plc\n Drilling to commence at Parys Mountain in early November\n Anglesey Mining plc (LSE:AYM), the UK minerals exploration and development company, is pleased to provide the following update on its key projects following the completion of the fund raising on 8 October 2021.\n \n Highlights\n \n \n A drill rig has been secured for the first drilling programme at Parys Mountain since 2012 which is set to commence in early November\n A nine-hole programme for 2,750m of diamond core drilling has been designed to provide additional information that will feed into the planned Feasibility Study in 2022, including: \n\nInfill drilling of the White Rock Zone to increase the remaining Inferred resource category confidence to Indicated category confidence between surface and the 280m level. Currently, around 78% of the White Rock resource is in the Indicated category.Provide geotechnical information to enable domain modelling for the mine design; and,Allow for additional metallurgical testwork from both the Engine Zone and White Rock Zone\n With respect to the environmental and permitting process, we have commenced a gap analysis of the baseline studies and reports completed since the late 1980’s to determine our work requirements over the next 6-12 months.\n \n \n Jo Battershill, the CEO of Anglesey Mining, commented: “Now that the recent funding has been successfully completed, it is time to get the work programmes moving. With the drilling at Parys Mountain expected to commence in early November, we would expect to have results coming back to us during Q1 of 2022.\n We have also commenced a review of the historical environmental studies to determine what is required to take the project through to a development decision. We aim to engage a specialist consultant to assist with the environmental baseline and permitting activities at Parys Mountain as soon as possible given the potential lead time usually required with baseline work.\n Recently, copper and zinc prices have moved up significantly – primarily due to energy shortages in the downstream processing sectors. However, with the rapidly accelerating move towards the electrification and decarbonisation of the economy, the prospects for elevated copper and zinc prices remain well supported.”\n Parys Mountain drilling ...