Anglesey Mining PLC (AIM:AYM) expects to start in-fill drilling at the Parys Mountain project in Wales in October, it has confirmed.
The target will be to convert inferred category resources to the higher confidence indicated category in the Northern Copper Zone.
Metallurgical test work is also underway on a trade-off study of pre-concentration methods, it added, which will be taken into the next round of studies and design.
“All of these activities are required to move the project into the next stage of study, prior to a fully committed decision to proceed to production,” Anglesey said.
Elsewhere, Parys said it expects 49.7% associate Grängesberg to commence environmental baseline studies during the year after a pre-feasibility update provided a series of recommendations to move it forward.
“Discussions with potential partners are expected to continue as we determine the most appropriate route to progress the Grängesberg development opportunity,” said the statement.
Losses for the year to end March 2023 were £961,000 with cash at the year end of £247,000. Anglesey has since raised £1.5 million through two fundings.