15 April 1999
Encouraging Results from Gold Drilling in Wales
Anglesey Mining plc reports encouraging results of exploration drilling at its Dolaucothi gold property near Lampeter in Wales. Two diamond drill holes have been drilled on the property over the past six months as part of the research and training programme of the Department of Earth Sciences at Cardiff University of Wales. Assay results from these holes, together with results from a third hole drilled previously, have recently been obtained. All three holes intersected significant mineralized quartz veins within a newly identified major north-east striking, north westerly dipping zone of deformed sedimentary rocks. The three holes were drilled on two section lines 100 metres apart, see plan below.
Description of Results
Hole M-11, located on section 175W, was drilled to a depth of approximately 150 metres and intersected mineralization with a gold grade of 16.4 grams per tonne gold over a width of 1.75 metres (including a high grade section grading 21.82 grams per tonne gold over 1.39 metres) within the deformation zone at a depth of approximately 135 metres below surface.
Hole M-12, located on section 275W and about 150 metres north of hole M-11, was drilled to a depth of 100 metres and gave two intersections of mineralization yielding grades of 11.76 grams of gold per tonne over 0.13 metres and 2.07 grams per tonne gold over 0.77 metres, within the deformation zone, at depths of 30 metres and 80 metres respectively below surface.
Hole M-13, also located on section 275W adjacent to hole M-12, intersected mineralization with a grade of 3.48 grams gold per tonne over 2.53 metres (including 6.50 grams per tonne gold over 0.95 metres) within the deformation zone at a depth of about 40 metres below surface. Hole M-13 was stopped at a depth of 50 metres and is expected to continue to its target depth of 150 metres during the summer.
Table of Recent Significant Intersections, Dolaucothi Gold Property, Wales
(grams per tonne)
Approximate depth below surface (metres)
Section 275 W
These four intersections, one each in holes M-11 and M-13 and two in hole M-12, represent the first time that the outline of this deformation zone has been identified. It is interpreted to be a zone dipping down to the north west from old surface trenches (Niagara and Pen Lan Wen) and underground workings (Upper and Lower Roman Adits) originally mined in the Roman times. The deformation zone has been distinguished from the Roman Lode, which was mined both by open pit and underground in Roman times and again underground in the 1930s. The Roman Lode is a sub-concordant quartz vein which appears to follow the crest of a small anticlinal fold above the deformation zone. The deformation zone is interpreted to lie below or in the immediate footwall of the old Roman Lode.
It is now believed that three previous holes drilled in the early 1990s (holes M-8, M-9 and M-10), did not go deep enough to test the deformation zone, although hole M-10, on section 175W which passed through the Roman Lode, did intersect mineralization grading 1.03 grams per tonne gold over 2.82 metres within a pyritic shale horizon at a depth of about 100 metres.
New Target Area
The identification of the deformation zone, and the four new mineral intersections below the old Roman Lode, have opened up a new target area and have extended the gold mineralization known on the property. These results provide considerable encouragement for further exploration.
More information is required to better define and understand this deformation zone and its relationship to the old Roman Lode. However, hitting four intersections up to 100 metres apart, with good gold grades, outside the old Roman Lode, has provided considerable encouragement that justifies and requires further follow-up work. It is planned to deepen hole M13 as part of the Universitys training programme within the next few months with the objective of testing the deeper horizon intersected in the adjacent hole M-12. A further drilling programme has been planned and would require further financing.
The Dolaucothi property, which was acquired by Anglesey Mining in 1997, has a long history of gold production going back to Roman times. The property, which covers approximately 11,000 acres, consists of a series of old workings including pits, trenches, adits and shafts which are distributed over 1.1 kilometers. These old workings are the product of four main periods of mining, the first in Roman times, the second in the late 19th century, the third in the early 20th century, whilst the final and most extensive phase lasted from 1931 until the onset of war in 1939 and mined the Roman Lode to a depth of about 110 metres.
The current exploration programme is aimed at targets down plunge from the old 1930s mine and below the old Roman Lode in areas where there has been no previous exploration work, with the objective of discovering new or extended gold zones.
In addition to the Dolaucothi property, Anglesey Mining owns the Parys Mountain property on the island of Anglesey in Wales, the only undeveloped polymetallic mineral deposit in the United Kingdom, which contains an important identified geological resource of 6.5 million tonnes with a combined average grade of over 10% zinc, copper and lead with gold and silver.
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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