Anglesey Mining achieves significant milestones in Parys Mountain Project with latest drilling results

Anglesey Mining plc (AIM: AYM) has announced assay results from the completion of drill hole NCZ003, the third installment of the infill drilling program at the Northern Copper Zone (NCZ) and Garth Daniel Zone (GDZ) of their Parys Mountain Cu-Zn-Pb-Ag-Au VMS project on the Isle of Anglesey in North West Wales.

Expansion and Exploration Progress:

The assays confirm that NCZ003 intersected a significant zone of mineralisation across the NCZ with remarkable results showing 90m at 0.57% CuEq, despite including internal dilution. The completion of this hole marks a consistent performance with historical drilling and recent holes NCZ001 and NCZ002, reinforcing the validity and effectiveness of the current geological model.

Unfortunately, drill hole NCZ003 had to be terminated prematurely at a depth of 535m due to encountering a large, potentially fault-related void. The last 6 meters of core before this void assayed at an impressive 1.16% CuEq, aligning with previously identified high-grade zones from historic drilling.

Anglesey Mining reports significant milestones in Parys Mountain Project with latest drilling results

Strategic Insights from Drilling Results:

These findings support the continued exploration and development strategy at Parys Mountain. Each drill hole in the program has intersected broad zones of mineralisation, with multiple higher-grade zones identified. This includes a cross-section of 90.0m at various grades of copper, zinc, lead, silver, and gold, indicating robust mineral presence and potential for the project.

Andrew King, Interim Chairman of Anglesey Mining, commented on the results, “Once again, we are very pleased to see the Parys Mountain project delivering some very strong drilling results. It is worth reminding investors that Parys Mountain is demonstrably the largest and most advanced copper project in the UK with substantial resource upside still evident.”

Future Developments and Resource Updates:

The completion of NCZ003 concludes the on-site portion of the current exploration and infill drilling program. The company now awaits litho-geochemical analysis results from the drilled holes, expected from a Canadian laboratory in the coming weeks. These results will play a crucial role in the planned resource update for the NCZ, aiming to convert a significant portion of the Inferred Resource into the higher confidence Indicated category, in accordance with JORC guidelines.

The consistent and promising results from the NCZ drilling program at Parys Mountain underscore the project’s potential and Anglesey Mining’s adept management of geological challenges and opportunities. The strategic location, coupled with substantial existing infrastructure, positions the Parys Mountain project as a cornerstone for future developments in the UK’s metal mining sector.