Black Angel’s Glacier Zone Continues
to Return High Grade Intersections
21/09/2006
Press Release
Angus & Ross PLC (AGU) (“Angus & Ross” or the “Company”)
is pleased to announce the second set of assay results from this
summer’s drilling programme at its Black
Angel zinc/lead property
in West Greenland. All 16 holes (see table) were drilled
in the Glacier Zone, which is developing into a
sub vertical sheet of continuous mineralisation, now confirmed over 500
metres along
strike and with a down dip extension of at least 170 metres. It
remains open both laterally and down dip. The Company
continues to be highly encouraged by these results, which include
further high grade massive sulphide intersections.
- Results for an additional 16 holes drilled in the Glacier
Zone are presented in this news release. Results are pending
for a further 116 holes.
- Mineralized intersections have been encountered in all
26 Glacier Zone drill holes assayed to date.
- Zone of mineralization now drill tested along 500 metres
of strike and traced to 170 metres below surface.
- High grade sulphide intersections, e.g. hole 06GLA031
grading 4.9% lead and 11.5% zinc over 3.83 metres, continue to
be found.
- Geological modelling work commencing and Civil Engineering
tenders being prepared.
Bulk metallurgical samples have been taken from the old Black Angel
mine, the Glacier Zone; and from the ARK Zone. They have now been
shipped to Wardell Armstrong International, for metallurgical testing. Of
particular interest will be the results from Dense Media Separation
testwork, as it is believed that these deposits may be amenable to
low cost upgrading prior to concentrate flotation.
Hole |
Eastings |
Northings |
From |
Intercept |
Pb |
Zn |
Ag |
UTM 22 |
UTM W |
|
|
|
(m) |
(m) |
(m) |
(m) |
(%) |
(%) |
(g/t) |
Glacier
Prospect (44 holes drilled, results pending from
16 holes) |
06GLA006 |
500 900 |
7 889 898 |
64.80 |
2.50 |
2.4 |
4.6 |
10.9 |
06GLA006 |
500 900 |
7 889 898 |
77.95 |
5.17 |
3.1 |
8.1 |
20.2 |
|
|
|
|
Including
1.37m at 22.0%Zn |
06GLA007 |
500 950 |
7 889 796 |
162.50 |
0.12 |
4.5 |
13.2 |
34.0 |
06GLA008 |
500 950 |
7 889 898 |
87.18 |
0.40 |
2.4 |
8.6 |
9.0 |
06GLA008 |
500 900 |
7 889 898 |
91.00 |
2.38 |
2.1 |
5.9 |
19.4 |
06GLA009 |
500 900 |
7 889 898 |
118.80 |
1.34 |
1.1 |
3.7 |
8.6 |
06GLA011 |
500 850 |
7 889 872 |
101.40 |
2.55 |
2.0 |
6.9 |
8.4 |
06GLA011 |
500 850 |
7 889 872 |
107.78 |
0.57 |
10.3 |
>30.0 |
39.0 |
06GLA011 |
500 850 |
7 889 872 |
114.30 |
0.84 |
1.2 |
7.4 |
33.0 |
06GLA011 |
500 850 |
7 889 872 |
121.70 |
0.58 |
0.1 |
11.8 |
3.0 |
06GLA012 |
500 850 |
7 889 872 |
127.10 |
0.80 |
1.7 |
3.5 |
6.8 |
06GLA013 |
501 058 |
7 889 908 |
38.00 |
1.40 |
3.8 |
9.5 |
22.5 |
06GLA014 |
500 800 |
7 889 867 |
126.45 |
0.11 |
5.7 |
14.3 |
32.0 |
06GLA014 |
500 800 |
7 889 867 |
133.05 |
1.70 |
1.9 |
6 |
6.9 |
|
|
|
|
Including
0.27m at 28.8%Zn |
06GLA015 |
501 058 |
7 889 908 |
66.88 |
0.25 |
6.1 |
14.4 |
40.0 |
06GLA016 |
500 800 |
7 889 916 |
59.50 |
1.54 |
3.5 |
10.4 |
16.4 |
06GLA016 |
500 800 |
7 889 916 |
77.87 |
2.93 |
2.4 |
7.7 |
13.8 |
|
|
|
|
Including
0.64m at 28.4%Zn |
06GLA018 |
500 800 |
7 889 916 |
101.08 |
4.82 |
2.5 |
5.6 |
10.7 |
|
|
|
|
Including
0.98m at 21.3%Zn |
06GLA020 |
500 800 |
7 889 916 |
143.95 |
1.41 |
1.9 |
6.5 |
10.6 |
06GLA029 |
500 698 |
7 889 904 |
175.75 |
10.94 |
2.6 |
6.7 |
13.8 |
|
|
|
|
Including
0.51m at 27.7%Zn |
06GLA030 |
500 698 |
7 889 904 |
149.29 |
4.70 |
1.2 |
4.1 |
8.8 |
06GLA031 |
500 698 |
7 889 904 |
170.75 |
3.83 |
4.9 |
11.5 |
23.3 |
|
|
|
|
Including
0.46m at 24.8%Zn |
06GLA032 |
500
698 |
7
889 904 |
153.79 |
2.06 |
4.5 |
5.3 |
15.1 |
| |
|
|
|
|
|
|
|
Glacier Zone holes 29, 30, 31 and 32 were all drilled on a single
section line (E 500 698) and confirm continuity of the mineralized
zone to a vertical depth of 170 metres below surface.
A revised resource estimate incorporating the results of the new discoveries
will be prepared by Wardell Armstrong International as soon as the final assay
results are received. Geological modelling work has already commenced.
This resource estimate is expected to be available to the company in November
2006.
From a preliminary assessment of the results, it appears that resources amenable
to open pit mining at both the Glacier and ARK deposits are being defined, which
would be an obvious target for early cash flow. However, most of
the Glacier Zone would have to be mined by underground methods.
Experienced Civil Engineering contractors are now on the property in order to
prepare quotations for the construction of access roads to both the Glacier and
ARK deposits from the top end of the Nunngarut tunnel which leads down to sea
level.
Robin Andrews, Chairman of Angus & Ross,
commented: “These
new results are adding to our confidence that we have discovered
sufficient additional mineral resources to make the re-opening of
the former Black Angel mine (and the recovery from it of around 2
million tons of ore) an economic and attractive proposition. However,
until the final assay results are received, and the resource estimate
and feasibility study completed, no firm production decision can
be made.”
(The programme is run by Black Angel Mining
Ltd, a wholly owned subsidiary
of
Angus & Ross plc headed by CEO Andrew Zemek.)
- Ends -
See more detailed information with photos and maps >>
Angus & Ross
plc
Robin Andrews (Chairman) +44-1751 430 988
Andrew Zemek
(COO of Angus & Ross, CEO of Black Angel Mining) +44-7850-755 450
NB: This release has been approved by the Company’s technical staff who 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, 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 outline standards of disclosure for mineral projects.
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