Business
Parys Mountain Resource Update
Parys Mountain Resource Update.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \n 3rd April 2023\n Anglesey Mining plc\n (“Anglesey” or “the Company”)\n Parys Mountain Resource Update\n Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased to announce an updated Mineral Resource Estimate (“MRE”) for its 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au project located on the isle of Anglesey. The resource estimates for the White Rock and Engine Zones have been updated on the basis of 10 additional drill holes completed in 2022 and a detailed review of the previous geological interpretations. \n \n Measured resources are now reported at Parys Mountain for the first time in the project’s history. The inclusion of 1.3Mt in the highest confidence category of resource provides a very strong base for the next round of mine optimisation work\n The combined MRE for the White Rock and Engine Zones, now referred to as Morfa Du, have been reported at 5.72Mt at 0.4% Cu, 2.30% Zn, 1.24% Pb, 28/t Ag and 0.3g/t Au, or 2.0% Copper Equivalent (“CuEq”) / 5.6% Zinc Equivalent (“ZnEq”) – reported above a cut-off based on a Net Smelter Revenue (“NSR”) of US$45.15/t, including 1.6Mt at 2.5% CuEq in the Engine Zone\n The Morfa Du Zone has 5.3Mt (93%) of the resource now reporting to the Measured and Indicated (“M&I”) categories (23% Measured and 70% Indicated) and contains 213,000t of combined Zn/Pb/Cu, 4.8Moz silver and 48koz gold\n The overall MRE for Parys Mountain, including the Northern Copper Zone which has not yet been updated, is reported at 16.1Mt at 1.0% Cu, 1.3% Zn, 0.7% Pb, 15g/t Ag and 0.2g/t Au (1.9% CuEq or 5.3% ZnEq) containing 486,000t of combined Zn/Pb/Cu, 7.9Moz silver and 86koz gold\n The Company will undertake a similar resource update process for the large Northern Copper Zone including additional drilling, which will be the first into this zone since 2008. As detailed in the RNS dated 28 November 2022, the company believes there is substantial upside to the existing resource base of 9.4Mt, relative to the 1969 internal resource of 32.7Mt (which should not be considered compliant with any modern JORC or NI43-101 methodologies)\n The updated MRE will provide the foundation for the Pre-Feasibility Study, which will incorporate an optimised mine design layout and results from recently commenced metallurgical testwork\n \n \n Jo Battershill, Chief Executive of Anglesey Mining, comme...