REG - Pembridge Resources - Minto Drill Results

Pembridge ResourcesAnnouncement

15/03/2022 10:00

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RNS Number : 8098E  Pembridge Resources plc  15 March 2022

 

15 March 2022

 

Pembridge Resources plc

Results from Minto's 2021 Drilling Programme

London, United Kingdom - Pembridge Resources plc (LSE: PERE) ("Pembridge" or
the "Company") is pleased to announce that Minto Metals Corp. ("Minto") has
announced results today from 14 of the 22 holes that it drilled as part of its
2021 drilling programme.

Minto conducted 9,400 metres of drilling in 22 holes in 2021 on the Minto Mine
Property, targeting extensions at depth or along strike of current or
historically producing orebodies, particularly Minto North, Minto Main and
Minto East.  To date, Minto has received results from 14
holes.  Highlights from the 2021 drilling include:

·    Hole 21EXP003, Minto North: 1.58% Copper (Cu) over 28 metres
including 3.50% Cu over 9 metres;

·    Hole 21EXP012, Minto North: 1.76% Cu over 5 metres;

·    Hole 21SDME‐001, Minto East:  1.83% Cu over 20 metres including
3.07% Cu over 5 metres;

·    Hole 21SDME‐002, Minto East: 1.53% Cu over 22 metres including
2.20% Cu over 12 metres

 

The full release from Minto is available at this link.

 http://www.rns-pdf.londonstockexchange.com/rns/8098E_1-2022-3-15.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/8098E_1-2022-3-15.pdf)

Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board of
Pembridge said:

"We are very encouraged to see these results, which indicate that there is a
lot of potential to find further high-grade copper and precious metal lenses
near to the mine's existing resources.  They give a strong start for the
planned 2022 exploration programme, which I believe will confirm my
expectations of a much longer Minto life of mine to the currently confirmed
remaining 7 years."

 

Cautionary Statement

This News Release includes certain "forward-looking statements" which are not
comprised of historical facts. Forward-looking statements include estimates
and statements that describe the Company's future plans, objectives or goals,
including words to the effect that the Company, or management, expects a
stated condition or result to occur. Forward-looking statements may be
identified by such terms as "believes", "anticipates", "expects", "estimates",
"may", "could", "would", "will", or "plan". Since forward-looking statements
are based on assumptions and address future events and conditions, by their
very nature they involve inherent risks and uncertainties. Although these
statements are based on information currently available to the Company, the
Company provides no assurance that actual results will meet management's
expectations. Risks, uncertainties and other factors involved with
forward-looking information could cause actual events, results, performance,
prospects and opportunities to differ materially from those expressed or
implied by such forward-looking information. Forward-looking information in
this news release includes, but is not limited to, the Company's intentions
regarding its objectives, goals or future plans and statements. Factors that
could cause actual results to differ materially from such forward-looking
information include, but are not limited to, the Company's ability to predict
or counteract the potential impact of COVID-19 coronavirus on factors relevant
to the Company's business, failure to identify additional mineral resources,
failure to convert estimated mineral resources to reserves with more advanced
studies, the inability to eventually complete a feasibility study which could
support a production decision, the preliminary nature of metallurgical test
results may not be representative of the deposit as a whole, delays in
obtaining or failures to obtain required governmental, environmental or other
project approvals, political risks, uncertainties relating to the availability
and costs of financing needed in the future, changes in equity markets,
inflation, changes in exchange rates, fluctuations in commodity prices, delays
in the development of projects, capital, operating and reclamation costs
varying significantly from estimates and the other risks involved in the
mineral exploration and development industry, and those risks set out in the
Company's public documents. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information in this news
release are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time
frames or at all. The Company disclaims any intention or obligation to update
or revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by law.

 

ENDS

 

NOTES TO EDITORS

Pembridge is a mining company that is listed on the standard segment of the
Official List of the FCA and trading on the main market for listed securities
of London Stock Exchange plc. Pembridge has an investment in Minto Metals
Corp, a British Columbia incorporated business listed on the TSX Venture
Exchange under the symbol "MNTO" that operates the Minto mine in Yukon,
Canada.

About Minto Metals Corp

Minto Metals Corp operates the underground copper-gold-silver mine located in
central Yukon, approximately 240 kilometres north of the capital Whitehorse
along the Klondike Highway. In excess of US$350 million of capital expenditure
has been invested into Minto operations since site construction began in 2006.
The Minto mine was in continuous production between 2007 and 2018, when the
mine was placed onto temporary care and maintenance. Pembridge acquired the
Minto mine from Capstone Mining Corporation in June 2019 and restarted
operations in October 2019.

Enquiries:

 

Pembridge Resources plc:
 
+44 (0)7905 125740

Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board

David James, Chief Financial Officer

 

Tavira Securities - United Kingdom:
                                    +44
(0)20 7100 5100

Jonathan Evans

 

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