Anglesey Mining said assays from the recently completed second drill hole at Parys Mountain in Wales confirmed a significant zone of mineralisation consistent with earlier exploration.
Focused on an area known as the Northern Copper Zone, the drilling recorded a best intercept of 9.4m at 1.9% copper. which Anglesey believes is part of a 114m zone of mineralisation across the NCD.
“Within the broad mineralised envelope, there are numerous higher-grade zones,” Anglesey added that demonstrate good continuity with previous drilling results.
A resource update on the NCZ is now planned to convert a significant portion of the Inferred Resource into the higher confidence Indicated category.
Andrew King, interim chairman, said: “Once again, we are very excited to see the project delivering some very strong drilling results.
“Both NCZ001 [the first hole] and NCZ002 have delivered some exceptional high-grade copper intersections, including 11m at 3.4% CuEq, 22m at 3.2% CuEq, 6.3m at 2.8% CuEq and 9.4m at 2.1% CuEq, within broad thicknesses of mineralisation up to 100m wide.
The results continue to support our view that the provides significant upside for the project, over and above the 5 million tonne contribution included within the 2021 Preliminary Economic Assessment.
"In addition, the project is favourably located on a previously permitted, brownfield development site with significant existing infrastructure already in place.“
A third drill hole, NCZ003, is currently at a depth of around 450 metres, King added.