Anglesey Mining PLC (AIM:AYM) has engaged Central Alliance to conduct a proof-of-concept study using its pioneering muon tomography technology in the Morris Shaft at Parys Mountain in Wales.
Muon tomography is a technique that measures naturally generated subatomic particles, called muons, from which it creates an image of the subsurface through density differentials.
Anglesey Mining added drilling would start on Parys Mountain next month, with a groundwater study also underway as part of its permit application.
Jo Battershill, chief executive, said: “We are very excited to announce the proof-of-concept study with Central Alliance and its muon tomography technique.
"Historical drilling across the Parys Mountain project has identified many zones of interest that have not been followed up on or included within the current resource estimates and the Morris Shaft provides an ideal location to test this cutting-edge exploration tool.
“With conventional geophysical methods being increasingly difficult to employ on the Isle of Anglesey due to impediments such as power cables, windfarms and roads, the need to develop new technology is becoming more important.”
Placing raises £500,000
Anglesey added it has also carried out a placing to raise approximately £0.5 million gross from certain existing shareholders and other institutional investors at a price of 1.5p per share plus warrants.