Anglesey Mining PLC (LSE:AYM) chief executive Jo Battershill told investors the company is making good progress at its Parys Mountain site in North Wales.
The minerals exploration and development group is advancing Parys – a copper, zinc, lead, silver and gold deposit – which is located at a historic mining site on the Isle of Anglesey.
“The logging shed is now operational and drill core samples will be submitted to the assay laboratory this month, Battershill said.
“The assay results will feed directly into the metallurgical testwork programme, which will take several months to complete.
Infill drilling at Parys is focussed on the White Rock and Engine Zone deposits, four of nine planned holes are complete, and the programme is due to run until the end of March (with results due next quarter).
“The environmental and tailings work programmes are both critical to the permitting requirements for restarting operations at Parys Mountain, subsequently we would expect to see activity levels start to increase as we receive feedback from the North Wales Mineral and Waste Planning Services,” Battershill added.
The company also updated on its Grängesberg iron ore project, in Sweden, where consultants are finalising a review of historical information that was the basis for a pre-feasibility study in 2012.
It was targeting the end of March for the initial study results but the timeline is dependent upon the timing of a site visit which is due to take place later this month.
Battershill, meanwhile, noted that current iron ore prices (around US$140 per tonne) provide a “very strong backdrop” for the Grängesberg project.