Anglesey Mining plc (AIM:AYM) 3.35p, Mkt Cap £9m – Strong assay results from Parys Mountain drilling

Anglesey Mining plc (AIM:AYM), the UK minerals development company, continues to advance work programmes at both its Parys Mountain Cu-Zn-Pb-Ag-Au VMS project on the Isle of Anglesey in north-west Wales and its Grängesberg iron ore project in Sweden.

Anglesey is pleased to announce that the first round of assay results have been received from the initial four holes of the recent infill drilling programme at Parys Mountain.

Parys Mountain Cu-Zn-Pb-Ag-Au Project

  • The 10-hole infill programme at Parys Mountain has provided important data validating the resource model and improving confidence in the mineral resource estimate and mineralisation boundaries.
  • Significant intersections include:
    • 12.36m at 4.8% Zn, 3.3% Pb, 0.5% Cu, 20g/t Ag & 0.3g/t Au (WD-19 from 140m) including
      • 3.72m at 8.5% Zn, 6.3% Pb, 1.0% Cu, 38g/t Ag & 0.3g/t Au (from 142m)
      • 2.76m at 7.2% Zn, 4.2% Pb, 0.6% Cu, 23g/t Ag & 0.3g/t Au (from 150m)
    • 21.53m at 4.0% Zn, 2.0% Pb, 0.3% Cu, 26g/t Ag & 1.0g/t Au (WD-19 from 170.5m) including
      • 6.0m at 7.1% Zn, 3.7% Pb, 0.4% Cu, 37g/t Ag & 2.0g/t Au (from 172m)
    • 3.0m at 5.9% Zn, 2.3% Pb, 0.5% Cu, 43g/t Ag & 0.7g/t Au (AMC-26 from 60m)
    • 3.75m at 3.4% Zn, 2.0% Pb, 0.3% Cu, 13g/t Ag & 0.1g/t Au (AMC-26 from 93m)
    • 3.7m at 5.8% Zn, 4.6% Pb, 0.6% Cu, 46g/t Ag & 0.2g/t Au (AMC-26 from 149m)
  • Holes WD-19 and AMC-26 both recorded multiple intercepts, with AMC-26 essentially mineralised over a total width of 163m grading over 2.0% ZnEq (0.75% CuEq) and WD-19 mineralised over a width of 72m grading over 3.9% ZnEq (1.4% CuEq). Holes WD-16 and WD-18, drilled at the perimeter of the White Rock zone, encountered only low grade to minor mineralization.
  • Samples from another four holes have been dispatched for assaying with results expected in mid-July.
  • The final two holes of the programme are being logged for additional data to assist with geotechnical domain modelling, which will be utilised in the underground mine design optimisation. Once logged, they will be sampled and dispatched for assaying.
  • With assays received, samples will now be selected for the metallurgical testwork programme. The testwork will include both Dense Media Separation and XRT ore sorting pre-concentration studies, which will also provide critical information for the Tailings Storage Facility design work.

Jo Battershill, Chief Executive of Anglesey Mining, commented: “It is very encouraging to see the White Rock resource model confirmed with the recent infill drilling. As expected, there are numerous discrete high-grade zones, with zinc equivalent grades of over 10%, within an overall larger mineralised system. The pre-concentration studies will provide important information that will help to maximise the extraction of this deposit, while also minimising the overall volume of both mill feed and tailings.”

“On the Northern Copper Zone, the team is currently planning the next round of infill drilling, which we hope to start in the September quarter. This will be the first infill programme into this deposit for almost 20 years and will provide important data for metallurgical testwork and the optimal mine design.”

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About Anglesey Mining plc

Anglesey Mining is traded on the AIM market of the London Stock Exchange and currently has 280,175,721 ordinary shares on issue.

Anglesey is developing its 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au deposit in North Wales, UK with a 2020 reported resource of 5.2 million tonnes at 4.3% combined base metals in the Indicated category and 11.7 million tonnes at 2.8% combined base metals in the Inferred category.

Anglesey holds an almost 20% interest in the Grangesberg Iron project in Sweden, together with management rights and a right of first refusal to increase its interest to 70%. 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

John Kearney, Chairman – Tel: +1 647 728 4106

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