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Anglesey Mining #AYM – Northern Copper Zone Drilling Update – Broad Zone of Sulphides Intersected in Hole NCZ002

Anglesey Mining plc (AIM:AYM), is pleased to provide an update on the Northern Copper Zone (‘NCZ’) Mineral Resource delineation drilling program at the Parys Mountain Cu-Zn-Pb-Ag-Au VMS project on the Isle of Anglesey in NW Wales.

The 2023/2024 exploration drilling campaign has been designed to verify the reliability of historical drill holes and infill gaps in the drilling that will be used to update the Parys Mountain Mineral Resource Estimate.

Drill hole NCZ002 was recently completed with a 107m (apparent thickness) zone of visible sulphides identified between 413m – 520m downhole.  The hole was designed as an infill hole between two pierce points from the previous drilling programme undertaken at the site in the 1970s that intersected broad zones of mineralisation – 91m grading 0.9% copper equivalent (‘CuEq’) and 75m grading 0.8% CuEq – both of which reported higher grade zones including 43m grading 1.2% CuEq and 26m grading 1.3% CuEq.

Samples from NCZ002 were dispatched to the ALS laboratory in Ireland on 16th February and the results are expected within a few weeks. Based on the encouraging intersection of visible sulphides and the promising assay results from NCZ001 (as detailed in the announcement released by the Company on 19th January 2024), it is anticipated that the assay results will confirm the continuity of the Cu-Zn-Pb-Ag-Au mineralisation at Parys Mountain.  Drilling of the third drill hole in this latest programme, NCZ003, has commenced with 200m drilled to date.

Key takeaways from the drilling results so far include:

–          Further verification of the existing Parys Mountain geological model.

–          Significant high-grade widths of polymetallic mineralisation identified along the contact with the Garth Daniel Zone.

–          Intersect of 22m grading 3.2% CuEq1 recently reported from NCZ001 represents a significant potential upside to the current resource estimate.

Andrew King, Interim Chairman of Anglesey Mining plc, commented: “On behalf of Anglesey management and the field team, I am delighted to report that ongoing drilling of the Northern Copper Zone is confirming that Parys Mountain has a significant zone of copper dominant mineralisation within an area 600 to 700 metres along strike and 300 to 400m downdip. Widths of mineralisation appear to be averaging over 20 metres in this zone with copper equivalent grades of between 1.0 – 1.3%.”

“The positive verification and infill drilling of the Northern Copper Zone completed so far is a key element to advancing the project through future development studies and ultimately providing sufficient data on which to base a decision to mine. Current management has always believed the Northern Copper Zone to be much more significant than the current resource numbers implied, and the first two drill holes of this program are encouraging in supporting that view.”

“We look forward to reporting back with the assay results from NCZ002 and the drilling results of NCZ003 in due course, along with further detail on the potential upside to the current Parys Mountain resource estimate.”

1Copper Equivalent (CuEq %) = Cu grade % * Cu Recovery + (Zn grade % * Zn Recovery * (Zn price $/t /Cu price $/t)) + (Pb grade % * Pb Recovery * (Pb price $/t /Cu price $/t)) + (Ag grade g/t / 31.103 * Ag recovery * (Ag price $/oz /Cu price $/t)) + (Au grade g/t / 31.103 * Au recovery * (Au price $/oz /Cu price $/t))

Commodity prices: Zn – US$3350/t, Cu – US$9523/t, Pb – US$2292/t, Ag – US$25.50/oz and Au – US$1850/oz

Recovery assumptions for Northern Copper Zone: Zn – 82%, Cu – 93%, Pb – 78%, Ag – 72% and Au -65%

Competent Person:

The information in this announcement which relates to Drilling Results has been approved by Mrs. Liz de Klerk, M.Sc., Pr.Sci.Nat., FIMMM who is a professional registered with the South African Council for Natural Scientific Professionals (SACNASP: 400090/08) and independent consultant to the Company. Mrs. de Klerk is the Senior Geologist & Managing Director of Micon International Co Limited and has over 20 continuous years of exploration and mining experience in a variety of mineral deposit styles. Mrs. de Klerk has sufficient experience which is relevant to the style of exploration, mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves” (JORC Code). Mrs. de Klerk consents to inclusion in the announcement of the matters based on this information in the form and context in which it appears.

About Anglesey Mining plc:

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

Anglesey is developing the 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au VMS 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 a 49.75% interest in the Grängesberg iron ore project in Sweden and 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

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

Jo Battershill, Non-Executive Director – Tel: +44 (0)7540 366000

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

Brand Communications

Public & Investor Relations

Alan Green – Tel: +44 (0) 7976 431608

Alan Green covers Fulcrum Metals #FMET, Power Metal Resources #POW and Anglesey Mining #AYM on this week’s Stockbox Research Talks

Alan Green covers Fulcrum Metals #FMET, Power Metal Resources #POW and Anglesey Mining #AYM on this week’s Stockbox Research Talks

Anglesey Mining #AYM – Parys Mountain drilling returns strong assays including 22.0m at 3.7% CuEq

Anglesey Mining plc (AIM:AYM), is pleased to announce that the assay results have been received from the recently completed drill hole NCZ001. Drill hole NCZ001 is the first hole from the infill drilling program of the Northern Copper and Garth Daniel Zones at the Company’s Parys Mountain Cu-Zn-Pb-Ag-Au VMS project on the Isle of Anglesey in north-west Wales.

Drill hole NCZ001 was designed to provide a repeat of the historical drill hole H34, drilled in the early 1970’s, which intersected three mineralised zones that bulked out to 146 metres at 1.2% copper equivalent (CuEq). Due to the deviation of NCZ001, the intersection encountered is estimated to be approximately 75 metres up-dip from the H34 intersection and provides a valuable infill pierce point.

Garth Daniel Zone – Hole NCZ001

    • 22.0m @ 2.3% Cu, 2.8% Zn, 1.3% Pb, 5.0g/t Ag and 0.03g/t Au (3.7% CuEq / 9.2% ZnEq) from a depth of 559m, including
      • 4.0m @ 5.2% Cu, 5.0g/t Ag and 0.03g/t Au (4.9% CuEq) from 569m; and,
      • 6.0m @ 2.5% Cu, 9.9% Zn, 4.7% Pb, 10g/t Ag and 0.1g/t Au (6.1% CuEq / 17.4% ZnEq) from 575m

Northern Copper Zone – Hole NCZ001

Significant intersections include:

    • 11.0m @ 0.6% Cu, 1.4% Zn, 0.5% Pb, 9.0g/t Ag and 0.4g/t Au (1.3% CuEq / 3.6% ZnEq) from a depth of 503m including
      • 4.0m at 1.1% Cu, 2.7% Zn, 1.0% Pb, 16g/t Ag and 0.7g/t Au (2.4% CuEq / 6.9% ZnEq) from 510m
    • 63.0m @ 0.6% Cu, 0.06% Zn, 0.03% Pb, 3g/t Ag and 0.2g/t Au (0.7% CuEq) from a depth of 362m including
      •  16.0m @ 0.9% Cu, 0.05% Zn, 0.02% Pb, 3g/t Ag and 0.2g/t Au (1.0% CuEq) from 382m
      • 7.0m @ 1.3% Cu, 0.11% Zn, 0.05% Pb, 5.5g/t Ag and 0.2g/t Au (1.3% CuEq) from 404m
    • 13.0m @ 0.5% Cu, 0.05% Zn, 0.01% Pb, 2g/t Ag and 0.1g/t Au (0.5% CuEq) from a depth of 455m

***CuEq and ZnEq grades are based on recovery factors and commodity prices as detailed on page 9 of this release***

Andrew King, Interim Chairman of Anglesey Mining, commented: “We are very encouraged by the broad widths encountered across both the Garth Daniel and Northern Copper Zones in NCZ001. In particular, we are excited to see the significant intersection within the Garth Daniel Zone. The 22-metre intersection grading 3.7% copper equivalent we believe continues to demonstrate the prospectivity of the Parys Mountain mineralised system.”

“Infill drilling of these mineralised zones will play a crucial role in the development studies for Parys Mountain. The primary target for this program is to provide additional pierce points to enable the current Inferred resources to be upgraded to the Indicated category. The second drill hole, NCZ002, is currently at a depth of around 360 metres with the Northern Copper Zone target estimated to commence at a downhole depth of around 420 metres”.

Drill hole details 

Hole ID Co-ordinates

        (E)                    (N)

Elevation

(m)

Azimuth

(°)

Dip (°) End of Hole (m)
NCZ001 244008 390981 78.3 165 -75 635

Reported Assays (results >0.5 CuEq in bold)

Hole Number From To Sample Length Assays
  (m) (m) (m) Cu

(%)

Zn

 (%)

Pb

(%)

Ag (g/t) Au (g/tt) CuEq

(%)*

NCZ001 77.5 78 0.50 0.27 0.19 0.16 3.3 <0.005 0.36%
NCZ001 83.4 83.9 0.50 0.03 0.01 0.00 <0.5 <0.005 0.03%
NCZ001 98.6 99.1 0.50 0.08 0.01 0.00 <0.5 <0.005 0.08%
NCZ001 99.1 99.6 0.50 0.02 0.01 0.00 <0.5 <0.005 0.02%
NCZ001 99.6 100.1 0.50 0.02 0.00 0.00 <0.5 <0.005 0.02%
NCZ001 100.1 100.6 0.50 0.02 0.01 0.00 <0.5 <0.005 0.02%
NCZ001 100.6 101.1 0.50 0.03 0.00 0.00 <0.5 <0.005 0.03%
NCZ001 101.1 101.6 0.50 0.56 0.22 0.13 9.6 <0.005 0.66%
NCZ001 101.6 102 0.40 0.12 0.32 0.06 2.9 <0.005 0.23%
NCZ001 102 102.5 0.50 0.02 0.02 0.05 <0.50 <0.005 0.03%
NCZ001 102.5 103 0.50 0.32 0.02 0.03 3.4 <0.005 0.33%
NCZ001 131 131.5 0.50 0.02 0.01 0.00 <0.5 <0.005 0.02%
NCZ001 132.5 133 0.50 0.00 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 139 139.5 0.50 0.01 0.02 0.01 <0.5 <0.005 0.01%
NCZ001 243.65 244.15 0.50 0.00 0.27 0.05 <0.5 <0.005 0.09%
NCZ001 267.8 268.3 0.50 0.01 0.70 0.07 <0.5 <0.005 0.22%
NCZ001 303.9 304.4 0.50 0.01 0.03 0.01 1.2 <0.005 0.03%
NCZ001 304.4 304.9 0.50 0.00 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 304.9 305.4 0.50 0.07 0.01 0.00 1.0 <0.005 0.08%
NCZ001 305.4 305.9 0.50 0.01 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 305.9 306.4 0.50 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 318.45 318.95 0.50 0.00 0.00 0.00 <0.5 <0.005 0.00%
NCZ001 327.15 327.65 0.50 0.01 0.59 0.02 <0.5 <0.005 0.18%
NCZ001 351 352 1.00 0.00 0.00 0.00 <0.5 <0.005 0.00%
NCZ001 352 353 1.00 0.00 0.00 0.00 <0.5 <0.005 0.00%
NCZ001 353 354 1.00 0.00 0.00 0.00 <0.5 <0.005 0.00%
NCZ001 354 355 1.00 0.02 0.00 0.00 <0.5 <0.005 0.02%
NCZ001 355 356 1.00 0.01 0.00 0.00 <0.5 0.01 0.01%
NCZ001 356 357 1.00 0.00 0.00 0.00 <0.5 <0.005 0.00%
NCZ001 357 358 1.00 0.00 0.00 0.00 <0.5 <0.005 0.00%
NCZ001 358 359 1.00 0.00 0.00 0.00 <0.5 <0.005 0.00%
NCZ001 359 360 1.00 0.03 0.01 0.00 <0.5 0.02 0.04%
NCZ001 360 361 1.00 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 361 362 1.00 0.27 0.01 0.00 <0.5 0.025 0.26%
NCZ001 362 363 1.00 0.98 0.01 0.01 1.7 0.223 1.02%
NCZ001 363 364 1.00 0.49 0.00 0.01 0.9 0.142 0.52%
NCZ001 364 365 1.00 1.04 0.00 0.04 6.5 0.119 1.06%
NCZ001 365 366 1.00 1.38 0.00 0.01 3.1 0.621 1.56%
NCZ001 366 367 1.00 0.15 0.02 0.00 <0.5 0.03 0.15%
NCZ001 367 368 1.00 0.35 0.01 0.00 0.8 0.068 0.36%
NCZ001 368 369 1.00 0.78 0.03 0.01 1.7 0.31 0.87%
NCZ001 369 370 1.00 0.57 0.01 0.00 0.8 0.23 0.63%
NCZ001 370 371 1.00 0.16 0.01 0.00 <0.5 0.024 0.16%
NCZ001 371 372 1.00 0.15 0.01 0.01 <0.5 0.024 0.16%
NCZ001 372 373 1.00 0.11 0.01 0.00 <0.5 0.127 0.16%
NCZ001 373 374 1.00 0.56 0.00 0.01 1.5 0.464 0.73%
NCZ001 374 375 1.00 0.45 0.01 0.01 1.6 0.22 0.52%
NCZ001 375 376 1.00 0.40 0.01 0.01 1.2 0.376 0.54%
NCZ001 376 377 1.00 0.59 0.02 0.01 1.5 0.221 0.65%
NCZ001 377 378 1.00 0.12 0.01 0.00 <0.5 0.031 0.12%
NCZ001 378 379 1.00 0.08 0.00 0.00 0.7 0.048 0.10%
NCZ001 379 380 1.00 1.58 0.02 0.03 5.6 1.19 1.99%
NCZ001 380 381 1.00 0.09 0.01 0.01 0.5 0.115 0.14%
NCZ001 381 382 1.00 0.03 0.03 0.00 <0.5 0.051 0.06%
NCZ001 382 383 1.00 0.73 0.08 0.02 1.9 0.219 0.81%
NCZ001 383 384 1.00 0.95 0.04 0.05 4.3 0.953 1.31%
NCZ001 384 385 1.00 2.01 0.02 0.02 3.4 0.04 1.91%
NCZ001 385 386 1.00 0.31 0.03 0.01 0.8 0.037 0.32%
NCZ001 386 387 1.00 0.75 0.11 0.03 1.6 0.056 0.76%
NCZ001 387 388 1.00 0.06 0.02 0.00 0.5 0.01 0.07%
NCZ001 388 389 1.00 0.84 0.04 0.01 1.5 0.04 0.82%
NCZ001 389 390 1.00 1.14 0.03 0.02 3.3 0.159 1.15%
NCZ001 390 391 1.00 0.21 0.04 0.01 1.1 0.07 0.24%
NCZ001 391 392 1.00 0.94 0.02 0.01 2.6 0.094 0.94%
NCZ001 392 393 1.00 1.76 0.03 0.04 9.6 0.419 1.88%
NCZ001 393 394 1.00 0.85 0.04 0.01 2.6 0.115 0.86%
NCZ001 394 395 1.00 1.45 0.26 0.04 4.2 0.127 1.51%
NCZ001 395 396 1.00 1.07 0.02 0.01 2.6 0.137 1.07%
NCZ001 396 397 1.00 0.17 0.01 0.02 2.3 0.124 0.23%
NCZ001 397 398 1.00 0.60 0.01 0.00 1.3 0.088 0.61%
NCZ001 398 399 1.00 0.14 0.01 0.00 1.8 0.132 0.19%
NCZ001 399 400 1.00 0.13 0.62 0.23 3.6 0.232 0.46%
NCZ001 400 401 1.00 0.20 0.07 0.03 2.9 0.133 0.28%
NCZ001 401 402 1.00 0.28 0.02 0.03 3.5 0.157 0.36%
NCZ001 402 403 1.00 0.19 0.04 0.09 3.4 0.099 0.27%
NCZ001 403 404 1.00 0.07 0.02 0.02 2.1 0.235 0.19%
NCZ001 404 405 1.00 0.66 0.06 0.04 3.2 0.31 0.78%
NCZ001 405 406 1.00 1.73 0.01 0.01 4.0 0.305 1.76%
NCZ001 406 407 1.00 1.80 0.01 0.04 5.8 0.052 1.74%
NCZ001 407 408 1.00 0.97 0.01 0.01 1.9 0.057 0.94%
NCZ001 408 409 1.00 1.35 0.37 0.16 8.7 0.226 1.53%
NCZ001 409 410 1.00 1.53 0.02 0.04 7.3 0.142 1.54%
NCZ001 410 411 1.00 0.98 0.30 0.08 7.4 0.255 1.16%
NCZ001 411 412 1.00 0.20 0.13 0.07 2.9 0.101 0.30%
NCZ001 412 413 1.00 0.45 0.40 0.10 4.0 0.192 0.65%
NCZ001 413 414 1.00 0.10 0.04 0.02 1.7 0.139 0.17%
NCZ001 414 415 1.00 0.21 0.02 0.02 2.6 0.113 0.27%
NCZ001 415 416 1.00 0.26 0.25 0.07 2.8 0.092 0.38%
NCZ001 416 417 1.00 0.33 0.03 0.01 1.1 0.005 0.33%
NCZ001 417 418 1.00 0.67 0.04 0.01 2.5 0.014 0.66%
NCZ001 418 419 1.00 0.60 0.03 0.01 2.2 0.013 0.58%
NCZ001 419 420 1.00 0.52 0.16 0.03 2.7 0.031 0.56%
NCZ001 420 421 1.00 0.38 0.06 0.02 2.9 0.019 0.40%
NCZ001 421 422 1.00 0.20 0.03 0.01 1.5 0.012 0.21%
NCZ001 422 423 1.00 0.46 0.06 0.01 2.2 0.011 0.46%
NCZ001 423 424 1.00 0.28 0.04 0.01 1.8 0.022 0.29%
NCZ001 424 425 1.00 0.52 0.04 0.01 2.2 0.044 0.53%
NCZ001 425 426 1.00 0.01 0.01 0.01 <0.5 <0.005 0.01%
NCZ001 426 427 1.00 0.01 0.01 0.01 <0.5 <0.005 0.02%
NCZ001 427 428 1.00 0.03 0.05 0.01 0.5 0.007 0.05%
NCZ001 428 429 1.00 0.32 0.04 0.01 1.4 0.019 0.33%
NCZ001 429 430 1.00 0.06 0.01 0.00 <0.5 0.007 0.06%
NCZ001 430 431 1.00 0.01 0.01 0.00 <0.5 <0.005 0.02%
NCZ001 431 432 1.00 0.01 0.03 0.00 <0.5 <0.005 0.02%
NCZ001 432 433 1.00 0.65 0.03 0.01 1.5 0.012 0.63%
NCZ001 433 434 1.00 0.08 0.01 0.00 <0.5 0.005 0.08%
NCZ001 434 435 1.00 0.04 0.01 0.00 <0.5 0.007 0.04%
NCZ001 435 436 1.00 0.00 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 436 437 1.00 0.00 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 437 438 1.00 0.01 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 438 439 1.00 0.00 0.01 0.00 <0.5 0.007 0.01%
NCZ001 439 440 1.00 0.03 0.06 0.00 1.0 0.005 0.05%
NCZ001 440 441 1.00 0.00 0.05 0.02 <0.5 0.007 0.02%
NCZ001 441 442 1.00 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 442 443 1.00 0.01 0.02 0.00 <0.5 <0.005 0.02%
NCZ001 443 444 1.00 0.00 0.03 0.00 <0.5 0.005 0.01%
NCZ001 444 445 1.00 0.04 0.04 0.01 0.7 0.031 0.07%
NCZ001 445 446 1.00 0.23 0.07 0.03 2.6 0.061 0.28%
NCZ001 446 447 1.00 0.15 0.17 0.17 4.7 0.112 0.29%
NCZ001 447 448 1.00 0.32 0.33 0.15 3.9 0.179 0.52%
NCZ001 448 449 1.00 0.00 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 449 450 1.00 0.08 0.03 0.00 <0.5 <0.005 0.09%
NCZ001 450 451 1.00 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 451 452 1.00 0.18 0.01 0.00 <0.5 <0.005 0.17%
NCZ001 452 453 1.00 0.10 0.02 0.00 <0.5 0.007 0.10%
NCZ001 453 454 1.00 0.19 0.05 0.01 0.9 0.048 0.22%
NCZ001 454 455 1.00 0.02 0.07 0.00 0.5 0.043 0.06%
NCZ001 455 456 1.00 0.55 0.06 0.01 2.3 0.077 0.57%
NCZ001 456 457 1.00 0.35 0.02 0.00 0.9 0.028 0.35%
NCZ001 457 458 1.00 0.75 0.02 0.01 1.7 0.02 0.72%
NCZ001 458 459 1.00 0.18 0.05 0.02 2.3 0.067 0.23%
NCZ001 459 460 1.00 0.06 0.02 0.01 1.9 0.077 0.11%
NCZ001 460 461 1.00 0.13 0.02 0.00 0.9 0.063 0.16%
NCZ001 461 462 1.00 0.50 0.04 0.02 3.9 0.224 0.59%
NCZ001 462 463 1.00 0.47 0.03 0.02 3.0 0.173 0.54%
NCZ001 463 464 1.00 0.17 0.02 0.01 2.1 0.163 0.25%
NCZ001 464 465 1.00 0.86 0.02 0.02 3.8 0.218 0.92%
NCZ001 465 466 1.00 0.70 0.07 0.02 3.0 0.126 0.74%
NCZ001 466 467 1.00 0.71 0.19 0.02 2.3 0.103 0.78%
NCZ001 467 468 1.00 0.55 0.06 0.02 1.9 0.065 0.57%
NCZ001 468 469 1.00 0.20 0.07 0.02 2.5 0.125 0.28%
NCZ001 469 470 1.00 0.09 0.11 0.02 2.7 0.106 0.18%
NCZ001 470 471 1.00 0.19 0.05 0.01 1.1 0.007 0.21%
NCZ001 471 472 1.00 0.16 0.03 0.01 1.8 0.039 0.19%
NCZ001 472 473 1.00 0.07 0.10 0.03 2.1 0.021 0.12%
NCZ001 473 474 1.00 0.19 0.09 0.04 3.4 0.119 0.28%
NCZ001 474 475 1.00 0.38 0.13 0.04 2.2 0.063 0.43%
NCZ001 475 476 1.00 0.18 0.08 0.01 1.5 0.037 0.22%
NCZ001 476 477 1.00 0.07 0.03 0.00 <0.5 0.011 0.08%
NCZ001 477 478 1.00 0.20 0.03 0.01 1.1 0.017 0.21%
NCZ001 478 479 1.00 0.08 0.04 0.01 0.5 <0.005 0.09%
NCZ001 479 480 1.00 0.03 0.02 0.01 <0.5 0.007 0.04%
NCZ001 480 481 1.00 0.01 0.03 0.00 <0.5 <0.005 0.01%
NCZ001 481 482 1.00 0.01 0.04 0.01 0.8 0.007 0.03%
NCZ001 482 483 1.00 0.03 0.04 0.05 0.8 0.042 0.07%
NCZ001 483 484 1.00 0.09 0.08 0.06 1.3 0.015 0.14%
NCZ001 484 485 1.00 0.06 0.01 0.00 <0.5 0.011 0.07%
NCZ001 485 486 1.00 0.13 0.55 0.30 1.7 0.019 0.36%
NCZ001 486 487 1.00 0.05 0.06 0.01 0.7 0.026 0.09%
NCZ001 487 488 1.00 0.01 0.01 0.01 <0.5 0.036 0.03%
NCZ001 488 489 1.00 0.01 0.10 0.17 0.7 0.029 0.09%
NCZ001 489 490 1.00 0.05 0.01 0.00 0.6 0.03 0.07%
NCZ001 490 491 1.00 0.00 0.03 0.00 <0.5 0.009 0.02%
NCZ001 491 492 1.00 0.10 0.04 0.01 0.7 0.019 0.12%
NCZ001 492 493 1.00 0.00 0.04 0.02 0.6 0.019 0.03%
NCZ001 493 494 1.00 0.08 2.10 0.75 3.4 0.022 0.85%
NCZ001 494 495 1.00 0.01 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 495 496 1.00 0.01 0.02 0.00 <0.5 0.005 0.02%
NCZ001 496 497 1.00 0.03 0.01 0.01 0.5 0.072 0.07%
NCZ001 497 498 1.00 0.24 0.03 0.02 2.1 0.188 0.33%
NCZ001 498 499 1.00 0.20 0.04 0.03 1.3 0.052 0.23%
NCZ001 499 500 1.00 0.06 0.01 0.01 0.5 0.016 0.07%
NCZ001 500 501 1.00 0.12 0.02 0.01 0.6 0.021 0.13%
NCZ001 501 502 1.00 0.11 0.07 0.02 1.6 0.093 0.17%
NCZ001 502 503 1.00 0.08 0.34 0.08 2.2 0.096 0.24%
NCZ001 503 504 1.00 0.23 0.69 0.12 4.2 0.127 0.51%
NCZ001 504 505 1.00 0.11 0.81 0.13 5.3 0.187 0.47%
NCZ001 505 506 1.00 0.22 0.57 0.08 9.5 0.266 0.55%
NCZ001 506 507 1.00 0.64 0.20 0.02 4.3 0.19 0.76%
NCZ001 507 508 1.00 0.23 0.38 0.06 4.1 0.216 0.45%
NCZ001 508 509 1.00 0.22 0.54 0.12 6.2 0.235 0.52%
NCZ001 509 510 1.00 0.27 1.11 0.24 5.8 0.266 0.76%
NCZ001 510 511 1.00 0.41 1.28 0.37 8.1 0.425 1.04%
NCZ001 511 512 1.00 1.19 7.34 3.19 21.3 0.782 4.27%
NCZ001 512 513 1.00 2.50 2.07 0.54 30.2 1.41 3.78%
NCZ001 513 514 1.00 0.45 0.06 0.07 3.3 0.082 0.51%
NCZ001 514 515 1.00 0.01 0.01 0.00 <0.5 0.008 0.02%
NCZ001 515 516 1.00 0.01 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 516 517 1.00 0.14 0.07 0.06 0.6 0.006 0.17%
NCZ001 517 518 1.00 0.05 0.22 0.03 0.7 0.016 0.12%
NCZ001 518 519 1.00 0.02 0.06 0.02 0.6 0.01 0.05%
NCZ001 519 520 1.00 0.07 0.01 0.00 <0.5 0.006 0.07%
NCZ001 520 521 1.00 0.02 0.01 0.00 <0.5 0.006 0.03%
NCZ001 521 522 1.00 0.01 0.01 0.00 <0.5 0.005 0.01%
NCZ001 522 523 1.00 1.80 0.03 0.05 5.6 0.029 1.74%
NCZ001 523 524 1.00 0.00 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 524 525 1.00 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 525 526 1.00 0.21 0.02 0.01 1.0 0.011 0.22%
NCZ001 526 527 1.00 1.23 0.02 0.01 4.3 0.022 1.18%
NCZ001 527 528 1.00 0.21 0.04 0.02 1.8 0.041 0.24%
NCZ001 528 529 1.00 0.01 0.08 0.16 1.1 0.011 0.08%
NCZ001 529 530 1.00 0.28 0.02 0.02 1.0 0.008 0.28%
NCZ001 530 531 1.00 0.01 0.05 0.01 <0.5 0.29 0.14%
NCZ001 531 532 1.00 0.01 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 532 533 1.00 0.01 0.01 0.00 <0.5 0.005 0.01%
NCZ001 533 534 1.00 0.01 0.35 0.59 4.5 0.021 0.25%
NCZ001 534 535 1.00 0.00 0.01 0.01 <0.5 0.005 0.01%
NCZ001 535 536 1.00 0.00 0.01 0.00 <0.5 0.013 0.01%
NCZ001 536 537 1.00 0.06 0.01 0.00 <0.5 <0.005 0.06%
NCZ001 537 538 1.00 0.24 0.11 0.02 0.7 0.027 0.28%
NCZ001 538 539 1.00 0.00 0.02 0.00 <0.5 0.02 0.02%
NCZ001 539 540 1.00 0.04 0.01 0.01 0.8 0.032 0.06%
NCZ001 540 541 1.00 0.01 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 541 542 1.00 0.01 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 542 543 1.00 0.02 0.01 0.00 <0.5 <0.005 0.02%
NCZ001 543 544 1.00 0.06 0.01 0.00 <0.5 <0.005 0.06%
NCZ001 544 545 1.00 0.00 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 545 546 1.00 0.00 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 546 547 1.00 0.00 0.03 0.01 <0.5 <0.005 0.01%
NCZ001 547 548 1.00 0.07 0.02 0.01 0.7 <0.005 0.08%
NCZ001 548 549 1.00 0.04 0.02 0.00 <0.5 <0.005 0.04%
NCZ001 549 550 1.00 0.04 0.01 0.00 <0.5 <0.005 0.04%
NCZ001 550 551 1.00 0.10 0.01 0.00 <0.5 <0.005 0.10%
NCZ001 551 552 1.00 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 552 553 1.00 0.10 0.02 0.01 1.1 <0.005 0.11%
NCZ001 553 554 1.00 0.21 0.01 0.01 2.0 <0.005 0.22%
NCZ001 554 555 1.00 0.08 0.01 0.00 <0.5 <0.005 0.08%
NCZ001 555 556 1.00 0.48 0.01 0.01 1.4 <0.005 0.46%
NCZ001 556 557 1.00 0.29 0.01 0.00 0.6 <0.005 0.28%
NCZ001 557 558 1.00 0.00 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 558 559 1.00 0.13 0.04 0.04 <0.5 <0.005 0.14%
NCZ001 559 560 1.00 1.82 0.02 0.01 2.8 <0.005 1.71%
NCZ001 560 561 1.00 0.32 0.01 0.00 <0.5 0.009 0.31%
NCZ001 561 562 1.00 0.49 0.02 0.01 1.7 0.02 0.48%
NCZ001 562 563 1.00 1.98 0.03 0.01 3.7 0.021 1.88%
NCZ001 563 564 1.00 2.77 0.02 0.01 3.3 0.023 2.61%
NCZ001 564 565 1.00 3.43 0.02 0.01 4.0 0.045 3.24%
NCZ001 565 566 1.00 1.02 0.02 0.01 1.8 0.016 0.97%
NCZ001 566 567 1.00 0.35 0.03 0.01 1.3 0.015 0.35%
NCZ001 567 568 1.00 0.02 0.02 0.01 0.5 0.01 0.04%
NCZ001 568 569 1.00 0.37 0.06 0.02 1.4 0.031 0.39%
NCZ001 569 570 1.00 5.83 0.04 0.04 5.6 0.042 5.49%
NCZ001 570 571 1.00 6.81 0.02 0.00 6.4 0.033 6.39%
NCZ001 571 572 1.00 2.82 0.01 0.00 2.4 0.018 2.65%
NCZ001 572 573 1.00 5.46 0.01 0.00 4.8 0.026 5.12%
NCZ001 573 574 1.00 1.21 2.08 0.84 3.1 0.029 1.91%
NCZ001 574 575 1.00 0.77 0.02 0.02 1.0 0.008 0.73%
NCZ001 575 576 1.00 1.95 1.90 0.68 3.6 0.022 2.52%
NCZ001 576 577 1.00 2.34 11.35 4.67 14.5 0.141 6.47%
NCZ001 577 578 1.00 3.29 4.19 1.67 8.6 0.207 4.72%
NCZ001 578 579 1.00 2.44 14.50 6.51 11.4 0.083 7.78%
NCZ001 579 580 1.00 3.27 18.45 9.66 13.3 0.075 10.29%
NCZ001 580 581 1.00 1.45 8.70 5.08 5.8 0.036 4.86%
NCZ001 581 582 1.00 0.03 0.04 0.02 0.7 0.01 0.05%
NCZ001 582 583 1.00 0.01 0.04 0.02 0.6 0.008 0.03%
NCZ001 583 584 1.00 0.01 0.02 0.00 <0.5 0.005 0.02%
NCZ001 584 585 1.00 0.02 0.02 0.00 <0.5 0.013 0.03%
NCZ001 585 586 1.00 0.40 2.43 1.42 7.7 0.012 1.40%
NCZ001 586 587 1.00 0.00 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 587 588 1.00 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 588 589 1.00 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 589 590 1.00 0.01 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 590 591 1.00 0.00 0.02 0.01 <0.5 <0.005 0.01%
NCZ001 591 592 1.00 0.00 0.00 0.00 <0.5 <0.005 0.00%
NCZ001 592 593 1.00 0.00 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 593 594 1.00 0.00 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 594 595 1.00 0.00 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 595 596 1.00 0.00 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 596 597 1.00 0.00 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 597 598 1.00 0.00 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 598 599 1.00 0.00 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 599 600 1.00 0.00 0.02 0.00 <0.5 <0.005 0.00%
NCZ001 600 601 1.00 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 601 602 1.00 0.00 0.02 0.00 <0.5 <0.005 0.00%
NCZ001 602 603 1.00 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 603 604 1.00 0.00 0.01 0.00 <0.5 <0.005 0.00%
NCZ001 604 605 1.00 0.01 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 605 606 1.00 0.00 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 606 607 1.00 0.01 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 607 608 1.00 0.16 0.01 0.00 <0.5 <0.005 0.15%
NCZ001 608 609 1.00 0.01 0.01 0.00 <0.5 <0.005 0.01%
NCZ001 609 610 1.00 0.00 0.02 0.00 <0.5 <0.005 0.01%
NCZ001 610 611 1.00 0.10 0.02 0.00 <0.5 <0.005 0.10%
NCZ001 611 612 1.00 0.33 0.02 0.00 <0.5 <0.005 0.31%
NCZ001 612 613 1.00 0.58 0.03 0.02 0.5 <0.005 0.55%
NCZ001 613 614 1.00 0.54 0.02 0.01 <0.5 <0.005 0.51%
NCZ001 614 615 1.00 0.04 0.01 0.00 <0.5 <0.005 0.04%
NCZ001 615 616 1.00 0.05 0.00 0.00 <0.5 <0.005 0.04%
Total     276.40            

* Copper Equivalent (CuEq %) = Cu grade % * Cu Recovery + (Zn grade % * Zn Recovery * (Zn price $/t /Cu price $/t)) + (Pb grade % * Pb Recovery * (Pb price $/t /Cu price $/t)) + (Ag grade g/t / 31.103 * Ag recovery * (Ag price $/oz /Cu price $/t)) + (Au grade g/t / 31.103 * Au recovery * (Au price $/oz /Cu price $/t))

Zn equivalent calculated using following commodity prices: Zn – US$3350/t, Cu – US$9523/t, Pb – US$2292/t, Ag – US$25.50/oz & Au – US$1850/oz

Zn Equivalent calculated using following recovery assumptions for Northern Copper Zone: Zn – 82%, Cu – 93%, Pb – 78%, Ag – 72% & Au -65%

Sample analysis and QA/QC

All samples generated from the drilling were dispatched to ALS Loughrea, Ireland.

Samples were analysed for multi-element data analysis using their ME-ICP61 package, which includes Ag, Cu, Pb and Zn. The samples were also assayed for gold using their Au-AA23 analysis package. Overlimit assays were then analysed using their Ag-OG62, Cu-OG62, Pb-OG62, Zn-OG62 and ME-OG62 analysis packages.

For QA/QC purposes, Anglesey Mining used the industry standard of inserting 5% Certified Reference Material (CRM) samples, 2.5% Certified Blank Samples (Blanks) and 5% duplicate samples at source. The CRMs were sourced from Geostats Pty Ltd, Ore Research & Exploration Pty Ltd, OREAS and Natural Resources Canada.

Competent Person

The information in this announcement which relates to Drilling Results has been approved by Mrs. Liz de Klerk, M.Sc., Pr.Sci.Nat., FIMMM who is a professional registered with the South African Council for Natural Scientific Professionals (SACNASP: 400090/08) and independent consultant to the Company. Mrs. de Klerk is the Senior Geologist & Managing Director of Micon International Co Limited and has over 20 continuous years of exploration and mining experience in a variety of mineral deposit styles. Mrs. de Klerk has sufficient experience which is relevant to the style of exploration, mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves” (JORC Code). Mrs. de Klerk consents to inclusion in the announcement of the matters based on this information in the form and context in which it appears.

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 a49.75% interest in the Grängesberg Iron project in Sweden, together with management rights. 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

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

Jo Battershill, Non-Executive Director – Tel: +44 (0)7540 366000

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

Brand Communications

Public & Investor Relations

Alan Green – Tel: +44 (0) 7976 431608

Anglesey Mining #AYM – Developing the Parys Mountain Project in 2024

In this exclusive, full length interview, Anglesey Mining #AYM director Jo Battershill discusses the illustrious history of the Parys Mountain project in Anglesey and looks at the plans to develop the project in 2024. The interview covers:

  • Current drilling campaign and pre assay core assessment at the Northern copper Zone
  • ‘Unusually Conservative’ PEA numbers
  • The project’s clean tech metal profile
  • Future Opportunities and Peer Group comparisons
  • Stakes held in Grangesberg Iron Ore Project and Labrador Iron Mines
  • Near term milestones and next steps

 

Anglesey Mining #AYM – Developing the Parys Mountain Project in 2024

On January 2nd, we release an exclusive, full length interview with Anglesey Mining director Jo Battershill Ahead of this, a sneak preview… Following the analyst site visit in December & Northern #Copper Zone drilling updates, why are the #ParysMountain PEA numbers now considered ‘unusually conservative’

StockBox Research Talks – Alan Green and Mark Fairbairn Stock Picks for 2024

StockBox Research Talks – Alan Green and Mark Fairbairn Stock Picks for 2024 including #ARK, #AYM, #BRES, #ECR, #FCM, #KDNC, #MARU, #NEO, #PALM, #POLB, #PREM, #ONDO #REE, #SVML

Anglesey Mining #AYM – Half yearly report for the six months to 30 September 2023

Chairman’s Statement and Management Report

During the reporting period significant advances were made at the company’s key asset, Parys Mountain, with the following developments:

  • Submission of the Pre-Application Inquiry to the North Wales Mineral Planning Authority and hosting an on-site hearing for over 20 statutory consultee groups.
  • Further resource update work for the Morfa Dhu zone (White Rock and Engine Zone) with 93% of the contained resources now being in the Measured and Indicated categories.
  • Commencement of confirmatory metallurgical test work and pre-concentration trade-off with 340kg of Morfa Dhu material sent to Grinding Solutions Limited. Preliminary results were received subsequent to the end of the period with overall recoveries either in-line or better than those received from previous test work.
  • Detailing the planned drilling programme for the Northern Copper Zone, the first drilling of this high potential area since 1972.  Drilling recommenced in October 2023 and the first hole was completed on 11 December at a depth of 635 metres. Visual logging of the core suggests two zones of sulphide mineralisation were intersected with the Northern Copper Zone interpreted to be between 351 – 540 metres and a second zone, potentially the Garth Daniel Zone, between 560 – 586 metres (all downhole depths). As expected, the interpreted Northern Copper Zone has varying levels of sulphide accumulation. The lower zone of sulphide accumulation between 560 – 586 metres demonstrates areas with very high levels of chalcopyrite.  A first batch of samples will be dispatched to the assay laboratory prior to Christmas with results expected in Q1 2024.

Progress at the 49.75% owned Grängesberg iron ore project in Sweden included ongoing discussions with potential development partners and the commencement of planning for the environmental baseline gap analysis with a locally based consulting group, as was recommended in the Pre-Feasibility Study Update.

Board of Directors and Management  

Following the resignation of Jo Battershill and the results of the annual general meeting held in late October 2023 the company is actively engaged in the search for a new Chief Executive Officer and Non-Executive Chairman. We are very pleased that Jo Battershill has agreed to remain on the board as a non-executive director.

Financial

The group had no revenue for the period. The loss for the six months to 30 September 2023 was £604,787 (2022 comparative period £468,656) and expenditure on the mineral properties in the period was £174,748 compared to £320,887 in the same period in 2022. This reduction was primarily due to a cessation in Parys Mountain drilling activity.

Net current assets as at 30 September 2023 were £711,635 compared to £86,781 as at 31 March 2023 with the increase being due to equity private placements in May and July 2023, which raised a total of £1.5 million to fund current operations.

Summary

We continue to firmly believe that Anglesey Mining is in a good position to advance its two key assets at Parys Mountain and Grängesberg over the next year.

At Parys Mountain, drilling of the Northern Copper Zone is expected to generate strong results leading to the conversion of significant areas of the resource from the Inferred category through into the higher confidence Indicated category. From a development study perspective, it is important that the Northern Copper Zone is upgraded to the Indicated resource category as this will allow the incorporation of this zone into any potential mineral reserve. Metallurgical test work will also be required on the Northern Copper Zone to confirm the +93% recoveries demonstrated by the original test work completed in 1969 at the Lakefield Plant in Ontario, Canada.  As suggested in the initial review of the Northern Copper Zone in 2022, we believe that the system could be significantly larger than currently modelled, although this will require additional drilling to test prospective areas.

At Grängesberg, we continue to explore options to advance the project. This initially requires finalising some of the recommendations from the preliminary feasibility study update, including baseline studies for the environmental impact assessment and updating the mining reserve to include some improvements to the proposed mine plan.  We are also exploring a number of options to optimise the ownership structure of Grängesberg Iron AB following our acquisition of an additional 29.8% stake in February 2023.

Outlook

Persistent global uncertainties and difficult financial markets have resulted in challenging conditions in which to operate.  However, we continue to be encouraged by growing investor interest in Anglesey Mining which was demonstrated by the successful raising of £1.5 million during the reporting period.  We believe that investors are finally recognising the progress made over the last two years after a period of relative inactivity.

Over the course of the next year, we look forward to advancing the Parys Mountain project and to optimising the ownership and potential of the Grängesberg iron ore project.

In closing, on behalf of the board of directors, I would like to thank our shareholders for their ongoing support, and to confirm that I remain very confident that the assets held by Anglesey Mining will deliver significant value as they continue to be progressed over the next year.

Andrew King

Interim Chairman

19 December 2023

Link here to view the full financial statements

Anglesey Mining #AYM – Parys Mountain – Northern Copper Zone Drilling Update

Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased to provide an update on the Northern Copper Zone drilling at the Company’s Parys Mountain Cu-Zn-Pb-Ag-Au project, located on the Isle of Anglesey.

Highlights

  • Further to the Company’s previous announcement on 5th December, Anglesey is pleased to confirm that the drilling of first drill hole into the Northern Copper Zone (NCZ001) was completed on 11th December at a depth of 635 metres, broadly in-line with the Company’s expectations.
  • Drill hole NCZ001 was modelled to intersect two zones of potential sulphide mineralisation – the first between 365 – 510 metres, relating to the Northern Copper Zone; and the second between 610 – 620 metres interpreted to be an extension of the high-grade Garth Daniel Zone.
  • Visual logging of NCZ001 suggests two zones of sulphide mineralisation were intersected with the Northern Copper Zone interpreted to be between 351 – 540 metres and a second zone, potentially the Garth Daniel Zone, between 560 – 586 metres (all downhole depths).
  • As expected, the interpreted Northern Copper Zone has varying levels of sulphide accumulation. This was also the case with drilling in the 1970’s with the nearest hole to NCZ001 intersecting two higher grade zones of 22.9m @ 1.20% Cu (1.42% CuEq) and 85.3m @ 1.13% Cu (1.40% CuEq) within a broader zone of 146m @ 0.98% Cu (1.20% CuEq) – no gold assaying was conducted on that drill hole.
  • The lower zone of sulphide accumulation between 560 – 586 metres demonstrates areas with very high levels of chalcopyrite, as highlighted in the picture below.

  • Logging and sampling of NCZ001 has been ongoing since the commencement of drilling and there are c.300 samples now ready for dispatch to the assay lab. The company expects the first batch to be delivered to the assay laboratory before the Christmas break, with results currently expected to be received during Q1 2024.
  • The second drill hole, NCZ002 is expected to be collared this week. Target zones are modelled at 330 – 420 metres (Northern Copper Zone) and 610 – 620 metres (Garth Daniel Zone).

Jo Battershill, Chief Executive of Anglesey Mining, commented: “We are very pleased to have finished the first drill hole into the Northern Copper Zone and get confirmation of both our geological and mineralisation models. The mineralisation from the lower zone, currently interpreted to be the Garth Daniel Zone, is particularly encouraging. As previously disclosed, the samples from this drill hole will be sent off to the assay laboratory as soon as possible and we look forward to potentially receiving the results during Q1 2024.”

“The next hole in the program is designed to step out 200 metres to the southwest and provide infill drilling pierce points within the Northern Copper Zone.  Converting the upper levels of the Northern Copper Zone from the Inferred category to the higher confidence Indicated category is the key objective of this program. Our current planning is to drill two holes from the new-collar position to reduce any down time between holes – changing the angle of the rig should ensure the targeted pierce points are achievable.”

“We were originally planning on completing the downhole Muon survey on NCZ001; however, a zone of broken ground at a depth of 390 metres – interpreted to be large fault – would present a risk to the survey tool and increases the chance of losing the tool down the hole. Subsequently, we will aim to conduct the Muon survey upon completion of the next hole.”

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

Alan Green covers Metals One #MET1 & Anglesey Mining #AYM on this week’s Stockbox Research Talks

Alan Green covers Metals One #MET1 & Anglesey Mining #AYM on this week’s Stockbox Research Talks

Quoted Micro 11 April 2022

AQUIS STOCK EXCHANGE

NFT Investments (NFT) is not going ahead with the acquisition of crypto tech and operations company Pluto Digital Assets and trading in the shares has recommenced. NFT had cash of £21.9m, having made seven investments, and net assets of £34.4m, 3.43p a share, at the end of 2021.

National Milk Records (NMRP) is linking up with another former Milk Marketing Board business Genus (GNS). National Milk Records will provide the fully listed animal breeding company with multi-panel genomic testing and evaluations. The two firms have been part of a process to map the DNA of the worst cows and bulls in terms of environmental impact. Farmers will be able to choose to breed cows with lower impact and highest milk yields. The initial contract lasts for five years.

Asimilar Group (ASLR) has joined the Access segment of the Aquis Stock Exchange. The technology investment company hopes that this will improve share liquidity. The AIM-quotation is being maintained but may be terminated to save money if the new quotation is successful.

Rogue Baron (SHNJ) has signed two new distribution deals. Oak and Still will distribute Shinju whisky in the UK from April 2022. Beverage Hunters will be the distributor in Spain from May.

Vanadium flow batteries technology developer Invinity Energy Systems (IES) has successfully concluded a validation programme by Korea-based Hyosung Heavy Industries and signed a non-binding memorandum of understanding for a global partnership and exclusivity in Korea.

Talent management and livestreaming company All Things Considered (ATC) increased revenues and other operating income by 23% to £9.9m in 2021. The loss is likely to be £2.8m. There was £4.4m in cash at the end of 2021. The live music market continues to recover. All Things Considered has invested $6m from a short-term promissory note into a new company focused on music digitisation and blockchain technology. This is a minority investment out of a total of $80m. The full year figures should be published in May.

Chapel Down Group (CDGP) has been appointed as the official sparkling wine supplier to the English Cricket Board. The company’s sparkling wines will be given to the winners of internationals and domestic finals.

Cadence Minerals (KDNC) says that iron ore stockpile shipments have started from the Amapa project in Brazil.

Eastinco Mining (EM.P) has discovered 16 new pegmatite zones following geochemical sampling at its HCK joint venture in southern Rwanda. This takes the total to 18.Surface geological exploration is underway at Musasa.

Clean Invest Africa (CIA) has renegotiated its loan facility and the £5m deemed to be outstanding has been changed into convertible loan stock that is convertible into shares at 1p each. There will be immediate conversion of £4.47m of loan notes.

Gunsynd (GUN) invested £75,000 into First Tin (1SN) at the placing price of 30p, having already invested £125,000 at 15p a share. The share price ended the first day at 30p.

AIM-quoted Vela Technologies (VELA) has acquired a 28.8% stake in healthcare and medtech firm Igraine (KING) for £404,000 or 1.8p a share. Richard Edwards had previously sold his 10.3% stake.

Giles Brand has increased his stake in EPE Special Opportunities (ESO) from 32.1% to 33.4%.

Aquis Exchange (AQX) non-exec chairman Glenn Collinson has bought an initial stake of 12,003 shares at 512p each. Shepherd Neame (SHEP) director Richard Oldfield has bought 25,000 shares at 837.4p each and 15,000 shares at 835.35p each. Hot Rocks investments (HRIP) non-exec chairman Brian Rowbotham bought 715,000 shares at 0.7p each and he owns 3.5%. Non-exec director Charles Vaughan has taken his stake to 2.53% after purchasing 1.5 million shares at 0.65p each.

AIM

The London Stock Exchange says that Arden Partners (ARDN) will lose its nominated adviser status if the merger with legal services provider Ince (INCE) goes ahead.

The Property Franchise Group (TPFG) revenues more than doubled to £24m, while pre-tax profit jumped from £4.77m to £6.42m thanks to the acquisition of rival Hunters Property. There is more to come. More financial advisers are being recruited and more of the franchisees are taking advantage of the services. The total dividend of 11.6p a share was higher than expected.

Belvoir Group (BLV) generated organic revenue growth of 25% last year. In 2021, pre-tax profit jumped from £7.5m to £10.3m, while the dividend is 8.5p a share. Management expects the residential sales part of the business to return to normal levels following the ending of incentives, while the lettings and financials businesses continue to grow.

Gaming machine monitors and consoles supplier Quixant (QXT) generated 2021 revenues of $87.1m, while pre-tax profit was $5.4m. Net cash is $17.6m. Screens supplier Densitron achieved the highest sales since it was acquired. Revenues are increasing from higher value added products.

Trading levels of most of the businesses of Tracsis (TRCS) have got back to previous levels, although the traffic data division recovery was delayed. In the six months to January 2022, group revenues were 31% ahead at £29.2m, while underlying pre-tax profit improved from £4.1m to £5m. The interim dividend is 0.9p a share. The recent US acquisition provides a customer base in the US, which is not as far advanced in terms of rail optimisation software as the UK.

Freight forwarding and transport services both improved their profit contribution to Xpediator (LSE: XPD) in 2021. The warehousing and logistics profit slumped due to problems in the UK. Pre-tax profit rose by one-quarter to £9.1m in 2021. The total dividend was reduced to 1.1p a share. A special dividend is a possibility this year, though. A new chief executive is still being sought.

Ecommerce technology provider Attraqt (ATQT) increased full year revenues by 9% to £22.9m but continued to lose money. There was £3.5m in the bank at the end of 2021 and management hopes to be cash neutral in 2022.

SourceBio International (SBI) grew Covid-19 testing revenues and core divisions also improved revenues during 2021. Group revenues grew from £50m to £92.5m, but they are expected to decline to £39.5m in 2022. That masks sharply higher core revenues partly due to a recent acquisition. The Covid testing labs can be converted to other uses.

Floorcoverings supplier Likewise (LIKE) says that first quarter of 2022 is ahead of budget. The Birmingham logistics site is up and running. The latest acquisition is Delta Carpets, which is earnings enhancing.

Anglesey Mining (AYM) has made the switch from the Main Market to AIM. It had been listed since May 1988. The company’s main asset is the 100%-owned Parys Mountain copper lead zinc deposit in Anglesey, north Wales. Other assets include a 20% interest in the Grangesberg iron project in Sweden. There is a right of first refusal to increase the stake to 70%. The share price moved up by 0.01p to 4.06p on the first day of trading on AIM.

MAIN MARKET

First Tin (1SN) raised £20m at 30p a share and ended the first day of trading at 30p (29p/31p). First Tin issued 60 million shares to acquire Taronga Mines, which owns Australian tin mining assets. The company already owned German tin projects. The cash raised should last for 18-24 months.

Radiology services provider Medica Group (MGP) had a much stronger second half to 2021. Revenues from elective surgery where slightly lower in the first half because of the effect of lockdowns and restrictions. The 2021 group revenues improved from £12.5m to £17.3m as surgery activity built back to previous levels. In 2021, group revenues improved from £36.8m to £61.9m, while underlying pre-tax profit increased from £4.74m to £11.5m. That excludes £4.13m of non-underlying costs, including amortisation, share based payments and one-off professional fees of £555,000. Net cash was £3.88m at the end of 2021. There is potential contingent consideration of £6.89m. The total dividend is 5% higher at 2.68p a share.

DG Innovate (DGI) completed its reversal into Path Investments. The company was acquired for £32.4m in shares issued at 0.6p each and has two operations. The first is developing electric drive technology and the other is developing sodium-ion batteries. The £2.55m raised at 0.5p a share, plus the £2.08m raised from warrants exercised at 0.25p each, will help to commercialise these technologies. The share price ended the first day at 0.34p, which is higher than the suspension price.

Ajax Resources (AJAX) is a shell seeking energy and natural resources assets and it raised £1.34m at 4p a share. The shares ended the week at 4.75p. The pro forma net assets are 2.6p a share. Management is seeking production that provides cash flow and/or strong exploration potential in known resources areas.

Aura Renewable Acquisitions (ARA) is a new shell seeking acquisitions in the renewable energy sector and it raised £1m at 10p a share. It ended the first day of trading at 17p. Pro forma cash is 8.4p a share. The founder shareholder is Harmony Capital Investments, which is behind the management of AIM-quoted, Asia-focused investment company Jade Road Investments Ltd (JADE), where Aura chairman John Croft is executive chairman. Aura is targeting is a range of businesses in areas such as wind, solar, biomass, hydro, carbon capture, waste management, smart grids and hydrogen supply.

OTHER MARKETS

Cyprus listed FOS Holdings has appointed Nick Kounoupias as chief executive. He is a solicitor with his own intellectual property consultancy. The film and entertainment company is planning a complex of five studios in Cyprus between Limassol and Larnaca, plus studios in other locations around the world. EU grants will help the funding of the studio complex, but other funding will need to be secured. FOS also plans to make three films a year.

Andrew Hore

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