Anglesey Mining plc              

 

5 September 2006                                                                            LSE: AYM   

 

Success with White Rock Drilling at Parys Mountain

 

 

Anglesey Mining plc is pleased to report that the first seven holes have now been completed in the 2006 drilling programme of the White Rock Zone adjacent to the Morris Shaft at its Parys Mountain project in North Wales.  The assay results from the first four of these holes confirm the continuation of the zone through to surface.  In addition a hole has been drilled into the Upper Engine Zone also adjacent to the Morris Shaft to establish upward continuity. 

This White Rock programme is designed to test the near surface potential of the zone to assist with bringing forward the start of production.  The programme on the Upper Engine Zone will further add to this aim.

 

White Rock

The plan below shows the location of both the White Rock Zone and the Engine Zone included in the original estimate and the location of the new holes.

 

 

Plan Showing Original Resources and New Drill Holes

 

The White Rock Zone was originally identified during the underground development programme in 1990.  A large part of the zone was located near the 280 metre level driven from the Morris Shaft and the current drilling programme was designed to test the upward continuity of this zone towards the surface.  The indicated resource estimate on the White Rock Zone calculated in 1990 was:

 

840,000 tonnes at 0.49% Cu, 3.44% Pb, 6.84% Zn, 42ppm Ag, and 0.45ppm Au.

 

Holes WD1 to WD6 were located on a hillside on roughly the same elevation and inclined at 60 degrees to the vertical to test the White Rock Zone at a depth of approximately 50 metres.  WD7 was also inclined at 60 degrees but was collared lower on the hill than the previous holes to test the zone at around 100 metres deep.  Holes WD1 and WD7 were each drilled to 120 metres deep to intersect the complete geological sequence whilst the remaining holes were each drilled to approximately 65 metres deep to test the mineralised horizons. 

The Company has recently received assay results from the first four holes and these are summarised below.

 

 

Width

(m)

Cu

(%)

Pb

(%)

Zn

(%)

Ag

(ppm)

Au

(ppm)

WD1

40.1m–47.5m

6.3

0.51

3.83

7.03

40

0.75

including

1.8

1.24

10.69

19.20

83

1.83

 

WD2

44.0m– 49.0m

5.0

0.15

1.08

2.10

25

0.31

 

WD3

25.1m– 49.5m

24.4

0.16

1.02

2.18

39

0.70

including

3.0

0.22

1.58

3.51

82

1.32

 

WD4

26.4m– 50.4m

24.0

0.54

4.19

6.90

51

0.55

including

8.5

0.63

5.78

10.02

59

0.49

   and

3.5

1.13

7.31

10.85

108

0.48

 

These assays compare favourably with the 1990 estimate of White Rock resources and indicate that the zone is likely to continue from below the 280 metre level through to surface.  The high grade intercepts in the adjacent holes WD1 and WD4 suggest that a high value core may exist in the zone surrounded by a lower grade halo.  Such a configuration would be amenable to low cost bulk mining methods in this area.

Holes WD5 and WD7 have also been sent for assay and results are expected shortly.  Hole WD6 did not intersect mineralised material and this hole therefore defines the southern limit of the zone at this elevation.  Visual examination of both WD5 and WD7 show mineralisation over extensive intercepts perhaps of a similar nature to WD2.

Hole WD2, with its relatively lower grade, probably indicates the northern extremity of the zone.  The distance between WD3 and WD5 is approximately 100 metres and could represent the potential strike length of the mineable zone at this elevation.  This compares favourably with the zone on the 280 metre level.

 

“The extended mineralised widths encountered within this White Rock drilling programme which contain potentially economic ore grades coupled with the apparent high-grade core to the White Rock Zone, and with the continuation or even extension of the strike length of the zone over that observed on the 280 metre level bode well for the development of a sustainable underground mining programme commencing close to surface and proceeding down to and below the 280 metre level” said Bill Hooley, Executive Director of Anglesey Mining“In addition, the location of the extension of the Engine Zone at a higher elevation, if further continuity can be established, will add to the economic benefits of commencing underground production from the mine decline in this vicinity.  We look forward to receiving the ongoing geological and assay results from both these zones and incorporating these into a viable mining and processing programme”

 

Future White Rock Drilling

To prove the lateral extent of the zone, it is planned that further holes will be drilled on the elevation of WD7 at that elevation.  It is expected that a further series of holes will then be drilled to investigate the zone approximately 50 metres deeper to tie in with the previous underground drilling.  When this programme is complete it is hoped that significant additional tonnage will be added to the resource and in sufficient detail to enable planning for the initial stopes in the underground mining programme to be completed.

 

Mining Potential

Both the White Rock Zone and the Upper Engine Zone above the 280 metre level that are being drilled with the holes discussed here, are located close to the mine’s planned decline portal site.  The Company has planning permission for use of this decline and excavation work on the portal was commenced in 1991.  Initial discussions have been held with contractors to recommence this decline development.  The current drilling programme on the White Rock Zone is being carried out at sufficiently close spacing to enable the initial mining stopes in this area to be laid out with confidence.  Production from these stopes using trackless methods trucking through the decline will involve relatively low levels of capital expenditure coupled with low operating costs.  The completion of the next phases of this White Rock drilling programme will enable such a plan to be drawn up speedily.

 

Engine Zone 

The majority of the known resources of the Engine Zone which hold the larger part of the Parys Mountain indicated resources are located below the 280 metre level of the Morris Shaft.  The upward extension of the Engine Zone between the 280 metre level and surface was not clearly understood.  The Company has therefore commenced a short programme to test this vertical continuation.  The first of these holes, CZ10 has been drilled vertically to 220 metres deep and has intersected the Engine Zone at around 200 metres.  These intersections have been sent for assay and results are awaited.  This success has encouraged the drilling of CZ11 which will commence in the next few days and is expected to intersect the Engine Zone at around 150 metres deep.

 

About Anglesey Mining 

Anglesey Mining plc is a UK based company established in 1984, listed on the London Stock Exchange with two major projects under active development towards mining production.

 

 

For further details:

Ian Cuthbertson, Finance Director        + (44) 1248 361333

Bill Hooley, Executive Director              + (44) 1492 541981

John F. Kearney, Chairman                  + (1) 416 362 6686

Cathy Malins / Annabel Leather,
Parkgreen Communications                  + (44) 20 7493 3713

 


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  Anglesey Mining plc
Parys Mountain, Amlwch,
Anglesey, LL68 9RE, UK
  Phone  +44 1248 361333  
 mail@angleseymining.co.uk
 

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