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