Anglesey Mining kicks off fresh economic assessment of Parys Mountain
"We are confident that the results from the PEA will confirm our expectation in the extent of the mineral resources at Parys Mountain," said Bill Hooley.
Company
LON:AYM
Anglesey Mining PLC is engaged in exploring and developing its Parys Mountain property which hosts a significant polymetallic zinc, copper, lead, silver and gold deposit where there is a head frame, a 300m deep production shaft, planning permission for operations and freehold ownership of the minerals and land.
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"We are confident that the results from the PEA will confirm our expectation in the extent of the mineral resources at Parys Mountain," said Bill Hooley.
Economic studies on Parys Mountain are currently in progress
Anglesey Mining will also use the money to evaluate new projects
The continuing support of premium iron prices for the premium product that Grangesberg would produce has encouraged Anglesey to seek out alternative development strategies to move the project forward.
Review by QME identified several ways to improve the project’s economics
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The mineable tonnage can be increased by using a lower cut-off grade and by adopting a revised mine development plan.
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The Parys Mountain project is currently the subject of an optimisation study
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The new work could result in an increased resource for Parys Mountain
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The company is looking to advance Parys Mountain in a planned and sequential manner.