Anglesey Mining PLC - mining company with operations in north Wales, Sweden and Canada - Posts conclusions from internal review of the northern copper zone at Parys mountain in Anglesey, Wales. Infers up to 5 grams of silver per tonne and 0.1 grams of gold per tonne. Further, estimates up to 1.27% copper, 0.38% zinc and 0.24% lead.
‘Under the preliminary economic assessment design, first mining from the northern copper zone would commence towards the end of year 4, which provides sufficient time to infill drill the first production areas immediately adjacent to the decline as it is advanced into the White Rock & Engine Zones,’ says Chief Executive Officer Jo Battershill.
He adds: ‘Therefore, we are looking to advance additional work programmes at the northern copper zone over the course of the next 12 months. These programmes will include drilling to confirm the historical grades and continuity, lift the confidence to the Inferred resource, generate samples for metallurgical testwork and provide a platform for downhole geophysical surveying – with the aim of identifying additional zones of high-grade mineralisation. Ultimately, this information will feed into a resource update.’
Current stock price: 2.45 pence, up 14% on Monday morning in London
12-month change: down 37%
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