14 June 2001
Potential New Mineral Zone identified at Parys Mountain
Anglesey Mining plc announces that as a result of ongoing geological reassessment carried out during the financial year ended 31 March 2001 it has identified potential for a new zone of mineralisation at its Parys Mountain property.
The potential new zone lies at the western end of the property, downdip from the White Rock Zone, separated by faulting from the major part of the property, within a few hundred metres of the Morris Shaft. It is not possible at this time, without further drilling, to estimate the size or grade of the new zone.
Anglesey Mining plans as soon as possible to undertake financing for a drilling programme to explore its exploration targets which have the potential to transform Parys Mountain into a very significant mineral deposit.
- Two studies during the last year have led to the identification of a previously unrecognised potential new zone of mineralisation.
- The potential new zone is believed to be comparable to the Northern Copper Zone (a lens of disseminated / semi-massive sulphide estimated in the 1960s to contain 30,000,000 tonnes averaging 0.7% copper, with minor zinc and lead) which lies to the north and downdip of the Carreg-y-Doll Zone from which almost all of the historic underground mining took place throughout the first half of the nineteenth century.
- The potential new zone lies to the west and downdip of the White Rock Zone (which contains a possible mineral resource of 1.5 million tonnes with grades averaging 5.81% zinc, 3.02% lead and 0.41% copper) within the same stratigraphic relationship to the White Rock Zone as the Northern Copper Zone has to the Carreg-y-Doll Zone.
- The potential new zone is believed to have been intersected by a single isolated drill hole, A-32, drilled in 1978, and which recorded an intersection of 6.56 metres averaging 5.06% zinc, 2.44% lead and 0.41% copper.
- The significance of the intersection in Hole A-32 was not realized until recent re-examination of the drill logs.
- The potential for a continuation of the mineralisation intersected in Hole A-32 is considered excellent.
The identification of this potential new zone is very important to Anglesey Mining for a number of reasons:
- It opens up a second major exploration target, and new zone, to the west.
- The upper part of this potential new zone lies at reasonable depth and within close proximity to the existing shaft.
- The identification of this new zone confirms yet again the unexplored potential of the entire Parys Mountain property.
Further geological detail click here.
Contacts : Ian Cuthbertson John F. Kearney Company Secretary Chairman (44)1248 361333 (1)416 362 6686
|Anglesey Mining plc
Parys Mountain, Amlwch,
Anglesey, LL68 9RE, UK
|Phone +44 1248 361333