Final batch of results from
drilling and further progress towards Black Angel mine re-opening
17/10/2007
Press Release
Angus & Ross plc ( 'Angus & Ross ' or
the 'Company' ) is pleased to provide the latest drilling update
from its Black Angel mine in Greenland.
- More high grade Zinc/Lead intersections
from the Glacier discovery including 2.13 metres @ 20.1% Zinc
and 10.2% Lead;
- Updated Resource Statement currently
being prepared by Wardell Armstrong;
- Expanded drilling programme
planned for 2008;
- Cable car en route for Greenland and
construction of terminals continuing
The final batch of assays from the last five holes
of the drilling programme carried out this year on the Glacier discovery
near the Black Angel mine have been received from ALS Chemex Laboratories
in Vancouver. The important drill intersections are tabulated below.
Selected
assays from the 2007 drilling programme
at the Black Angel Glacier Zone Zn/Pb
(Batch 4)
Hole |
Eastings
UTM 22 |
Northings
UTM W |
From |
Intercept |
Pb |
Zn |
Ag |
|
(m) |
(m) |
(m) |
(m) |
(%) |
(%) |
(g/t) |
Glacier Prospect |
| 72 |
500505 |
7889868 |
265.05 |
2.13 |
10.2 |
20.1 |
34 |
|
|
and |
271.06 |
1.20 |
1.6 |
6.8 |
7 |
73 |
500505 |
7889868 |
289.76 |
0.84 |
6.0 |
15.9 |
36 |
74 |
500451 |
7889891 |
283.52 |
1.38 |
3.6 |
9.3 |
20 |
75 |
500451 |
7889891 |
130.06 |
2.88 |
0.0 |
16.2 |
10 |
|
|
and |
306.76 |
0.58 |
3.5 |
8.7 |
20 |
| |
|
and |
319.55 |
2.22 |
3.1 |
7.9 |
21 |
|
|
|
|
|
|
|
|
Overall these are very good results which have
followed the trend of the high grade Glacier ore body, discovered
last year, and which is still open to the west and at depth. Previously
announced results have indicated that the ore body pinches and swells
with mining widths varying between half a metre and ten metres; many
assays contained more than 15% combined zinc and lead.
The Glacier
zone is the third largest body of mineralisation ever found at the
Black Angel property, after the Angel and Cover zones. It is now
known to extend 650 metres along its east-west strike, this year's
drilling having extended the zone of mineralisation roughly 150 metres
to the west where it remains open.
A major fault structure is known
to cross the strike at some point but interestingly, there are several
surface showings, all to the west of the Glacier zone and further
diamond drilling is therefore planned for 2008. New structural interpretations
suggest the Glacier zone could be connected to the ARK zone. In fact
many of the numerous surface showings could be linked and further
drilling will be undertaken next year to investigate this.
The thirty
one holes completed this year and comprising 7,353 metres of diamond
drilling should increase resources considerably. The Company's consultants
Wardell Armstrong International are presently preparing an up to
date Resource Statement for the Glacier zone as well as a Bankable
Feasibility Study pertaining to early pillar extraction from the
old Black Angel mine itself.
Pictures have just been received of
the various components of the cable car leaving Switzerland en route
by land for Aalborg in Denmark and then by ship to Greenland. The
ship is expected to arrive in Greenland by the end of October. The
mine adit, 600 metres above the fjord, will be connected to the base
camp about 1.5 km away by the cable car. Stringing of the cable will
start later this winter and full installation is planned for May/June
next year. In the meantime the civil engineering work on the terminals
is proceeding.
The two cabins of the Black Angel cable car leave
Garaventa plant in Goldau in Switzerland starting their long journey
to Greenland (12/10/2007)
Robin Andrews, Chairman of Angus & Ross,
commented: “The 2007 exploration season in
Greenland has been very successful as can be seen from the recent
news releases detailing the drilling results. In addition, considerable
progress has been made in the interpretation of the structural
geology of the region so that planning is already underway for
a much enhanced exploration programme in 2008. In the meantime
work continues towards the installation of a cable car which
will provide access for the production of high grade ore from
the existing pillars and will also enable exploration drilling
to be undertaken within the mine."
- Ends -
Angus & Ross
plc
Robin Andrews (Chairman) +44-1751 430 988
Nick Hall, (Chief Executive) +44-7931 709 053
Andrew Zemek
(COO of Angus & Ross, CEO of Black Angel Mining) +44-7850-755 450
Bishopsgate Communicatons
Nick Rome +44-20-7562 3366
Landsbanki Securities(UK) Limited
Fred Walsh and Martin Potts +44-20-7426 9000
NB: This release has been approved by the Company's
technical staff in accordance with the recent Guidance Note for Mining,
Oil and Gas Companies issued by the London Stock Exchange in respect
of AIM companies, which outlines standards of disclosure for mineral
projects. These include Dr Tom Elder, Director, who holds a BSc and
Doctorate in Geology from Durham University, is a Fellow and former
Member of Council of The Institution of Mining and Metallurgy and
a Fellow of The Geological Society; and Dr Robert Dowdell formerly
a mine superintendent of the Black Angel Mine who obtained his Doctorate
in Rock Mechanics from University of Newcastle upon Tyne.
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