Anglesey Mining (AIM:AYM) has kicked off a resource growth push at its Parys Mountain project, appointing a Principal Geologist and an Exploration Geologist to drive a reassessment of historical data and target new mineralisation.
The AIM-listed mineral exploration and development company owns 100% of the Parys Mountain copper, zinc, lead, silver and gold project in Anglesey, North Wales.
The Principal Geologist will lead a review of core log assays and older drill core not incorporated in the 2023 mineral resource estimate (MRE), with an updated MRE model the stated goal.
Phase-1 airborne magnetic surveys have returned anomalies consistent with the volcanogenic massive sulphide deposits that define the Parys Mountain deposit type, with ground follow-up work planned and a second airborne geophysics programme set to extend coverage beyond the Phase-1 area.
Management has also shelved a previously proposed hydropower scheme, concluding it does not align with the primary objective of developing Parys Mountain as a mining operation and does not justify further financial commitment.
"My ambition is to develop Parys Mountain into a flourishing mining operation," said Chief Executive Andrew Fulton, citing an upward trajectory in copper, gold and zinc prices as underpinning the strategic case for domestic UK metal production.
The geospatial exploration programme is described as nearing completion, with results expected to incorporate the airborne magnetic findings.
