REG-Anglesey Mining Plc: Parys Mountain - Positive Preliminary Results from Metallurgical Testwork

Anglesey MiningAnnouncement

04/12/2023 07:15

 

 

Trading Symbol

AIM: AYM

 

4th December 2023

 

Anglesey Mining plc

(“Anglesey” or “the Company”)

 

Parys Mountain – Positive Preliminary Results from Metallurgical Testwork

 

Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased
to report that it has received preliminary results from the metallurgical
testwork on the White Rock and Engine Zones at the Company’s Parys Mountain
Cu-Zn-Pb-Ag-Au project, located on the Isle of Anglesey.

 

In June, the Company dispatched a 340kg sample to Grinding Solutions Limited
(GSL) comprising a blend of material from both the White Rock and Engine Zones
with a combined head-grade of 0.42% Cu, 3.60% Zn, 3.08% Pb, 49g/t Ag and
0.7g/t Au (10.8% ZnEq). The blend was 3.3 (White Rock) to 1.0 (Engine Zone),
similar to the contribution that is expected to be delivered from the mine in
the early years of production, prior to the Northern Copper Zone commencing.

 

Highlights

 
* Two pre-concentration methods were conducted – Dense Media Separation
(DMS) undertaken by Pesco and X-Ray Transmission sorting (XRT) completed by
TOMRA. One element of the testwork was to determine the optimal process to
take forward into the Pre-Feasibility Study.  
* Both methods demonstrated that a successful pre-concentration stage would be
applicable with the overall base metals only head-grade increasing from 7.5%
ZnEq to 11.4% ZnEq from the DMS (+52%) and 11.7% ZnEq from the XRT (+55%) –
results will be updated once the gold and silver numbers are finalised – the
precious metals are expected to add 3-4% to the ZnEq grade. The preliminary
results are tabulated below:
 

                  Zn (%)  Pb (%)  Cu (%)  ZnEq (%)  Mass Rejection (%)  Metal Loss (%)  
 Original Sample  3.6     3.1     0.42    7.5       -                   -               
 DMS Results      6.4     3.8     0.60    11.4      35                  5.2             
 XRT Results      6.4     3.7     0.70    11.7      29                  3.0             

 
* Preliminary results from the locked-cycle flotation testwork demonstrated
higher recoveries than those achieved in historical testing. These results are
based on calibrated pXRF readings with the full wet chemistry expected over
the coming 2-3 weeks. The results are tabulated below:
 

                Cu Concentrate      Zn Concentrate      Pb Concentrate      Au Concentrate      
                Cu Grade  Recovery  Zn Grade  Recovery  Pb Grade  Recovery  Au Grade  Recovery  
 PEA Estimates  21.8      56        56.2      82        51.8      76        n/a       40        
 GSL Testwork   31.5      74        50.7      86        56.4      80        300       65        
 Difference               +32%                +5%                 +5%                 +63%      

 
* Testwork with regards to net acid generation, settling rates and contact
leaching on the tailings is ongoing with results expected over the next 2-3
weeks. In addition, GLS will also be completing a diagnostic leach test on the
final zinc tailings to ensure optimal recovery of gold.
 

 

Jo Battershill, Chief Executive of Anglesey Mining, commented: “We are very
pleased by the preliminary results from the metallurgical testwork on the
White Rock and Engine Zones, which have demonstrated that the assumptions used
in the 2021 PEA are potentially on the conservative side. The results show
that the overall metal recoveries appear to be better than expected,
particularly for both copper and gold. It is also very positive to confirm
that the Parys Mountain deposit is amenable to both DMS and XRT
pre-concentration methods with the potential feed grade increased by over
50%.”

“Successful pre-concentration has many benefits ranging from increased feed
grade into the processing plant, lower volumes of tailings for disposal and
the potential to build smaller, lower cost processing infrastructure. We will
now look to investigate the relevant capital and operating costs for each
option to determine which is the most optimal route to move forward with in
the planned Pre-Feasibility Study.”

About Anglesey Mining plc

Anglesey Mining is traded on the AIM market of the London Stock Exchange and
currently has 420,093,017 ordinary shares on issue.

 

Anglesey is developing its 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au deposit in
North Wales, UK with a reported resource of 5.3 million tonnes at over 4.0%
combined base metals in the Measured and Indicated categories and 10.8 million
tonnes at over 2.5% combined base metals in the Inferred category. 

Anglesey also holds an almost 50% interest in the Grängesberg Iron project in
Sweden, together with management rights and a right of first refusal to
increase its interest to 100%.  Anglesey also holds 12% of Labrador Iron
Mines Holdings Limited, which through its 52% owned subsidiaries, is engaged
in the exploration and development of direct shipping iron ore deposits in
Labrador and Quebec.

 

 

For further information, please contact:

Anglesey Mining plc

Jo Battershill, Chief Executive – Tel: +44 (0)7540 366000

Andrew King, Interim-Chairman – Tel: +44 (0)7825 963700

 

Davy

Nominated Adviser & Joint Corporate Broker

Brian Garrahy / Daragh O’Reilly – Tel: +353 1 679 6363

 

WH Ireland

Joint Corporate Broker

Katy Mitchell / Harry Ansell – Tel: +44 (0) 207 220 1666

 

 

 

LEI: 213800X8BO8EK2B4HQ71

 

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