Released 19 August 2005
First 2005 Drill Hole at Parys Mountain
Anglesey Mining plc is pleased to report that it has now drilled the first hole of the 2005 summer exploration programme on its Parys Mountain polymetallic zinc, copper, lead, silver and gold deposit at Anglesey North Wales.
Hole AMC 15, the first to be drilled on Parys Mountain since 1997, was completed on 8 August 2005 at a depth of 632 meters and successfully intersected both the targeted Engine zone and the shallower North Central zone. The drill has now been moved to the next hole, AMC 16, which is again targeted at both the Engine zone and the North Central zone.
Massive Sulphide Intersections
Hole AMC 15 reached the Engine zone target at the anticipated depth of 563 metres where it intersected 2.5 metres of massive sulphide in the Engine zone horizon. The hole also intersected 3.2 metres of lower grade disseminated sulphide below the massive sulphides. At a higher elevation hole AMC 15 had earlier intersected the North Central zone at a depth of 366 metres, which included a 0.2 metre section of massive sulphides.
The drill core from the two massive sulphide intersections in AMC 15 has been sent away for analysis and assay result are expected in a few weeks.
The probable ore reserves at Parys Mountain upon which the 1990 positive Mine Feasibility Study is based lie principally at the Engine zone horizon and at the western tip of the Parys Mountain volcanic complex, near the Morris Shaft. The current drilling program is targeted in part at this same Engine zone horizon but along the northern margin of the volcanic complex which extends over a strike length of at least 1.5 kilometres and which to date is very poorly explored with only limited drilling. At the same time the drilling is also targeted at the less well developed North Central zone which lies at shallower depth above the Engine zone. Later it is also planned to test the separate White Rock zone and the Northern Copper zone.
The intersection of the Engine zone in the recently completed hole AMC 15 has demonstrated the validity of the company's geological model and interpretation and has indicated the continuation of the Engine zone at least 100 metres east of the nearest previous intersection in hole H30. Further, the narrow intersection of the shallower lying North Central zone, which has now been identified in a number of holes, gives this less well developed but emerging new zone a potential strike length of 500 metres. Due to drilling deviation, AMC 15 did not go through the area of the Northern Copper zone, one the original targets of the hole.
The company believes that Parys Mountain has the potential for the discovery of major zones of massive sulphide mineralisation, similar to those outlined both by drilling and by underground development in the early 1990ís, over the largely unexplored 1.5 kilometre strike length Parys mountain volcanic complex.
Contacts J F Kearney + (1) 416 362 6686
Ian Cuthbertson + (44) 1248 361333
|Anglesey Mining plc
Parys Mountain, Amlwch,
Anglesey, LL68 9RE, UK
|Phone +44 1248 361333