Further results of Black Angel 2007 exploration
September 20 2007 - 2:01AM
UK Regulatory
Further results of Black Angel 2007 exploration
20th September 2007
Angus & Ross PLC
Further results of Black Angel 2007 exploration and mine reopening
progress.
* 2007 exploration programme of 8,142 metres of diamond
drilling in 37 holes completed. Excellent results obtained from
the first 26 holes; results from the remaining 11 holes awaited.
* The South Lakes Glacier Zone, (SLG), is developing into
the third largest zone, found in Black Angel area (where 8 zones
were mined).
* Hole 70 the best hole since the original Black Angel
discovery - 10.99m of 4.5% Pb and 12.2% Zn including 5.38m of 8%
Pb and 21%.4% Zn (See Table below).
* Cable car being shipped to Greenland in November with
installation due for completion in summer 2008.
* Bankable Feasibility Study expected in early November 2007
Angus & Ross PLC (AGU.L) ("Angus & Ross" or the "Company") is pleased
to update its shareholders with the latest results from its
exploration programme at the Black Angel Zinc / Lead Project in West
Greenland; as well as progress towards the re-opening of the mine
previously operated by Cominco and then Boliden - and closed in 1990.
DRILLING
The drilling programme was completed on 29th August with 37 holes
drilled totalling 8,142m. This year's exploration has concentrated on
probing the extensions of the South Lakes Glacier (SLG) zone drilled
last year. Five further holes were drilled in the ARK area, one in
the Wedge area and three in the Lakeshore area (never drilled
before). The results of the first two batches of samples were
published by the Company on 28th August 2007 and the results of Batch
3 are published below. Assays from Batches 4, 5, and 6 are awaited.
The 2006 drilling programme resulted in an independently estimated
JORC-compliant resource of nearly 2 million tonnes of zinc-lead
mineralisation (see PR of 6/12/06)., Therefore the main objective of
the 2007 programme was to build on this success and test the
expectation that the SLG discovery could be extended both 'down dip'
and 'along strike'. Results so far from the 2007 programme have
supported this assumption. Indeed in terms of continuous massive
sulphide mineralisation the SLG zone is now the third largest ever
found in the Black Angel area and is becoming larger still especially
along strike to the west.
The structural re-interpretation of another mineralised zone, named
'Lakeshore', which had never been drilled in earlier programmes,
indicates that it lies in a similar structural and stratigraphic
setting to the main SLG discovery. However, the three holes drilled
this year were inconclusive. Assays are awaited and further drilling
will take place next year.
RESULTS
Hole No.70 reported in this batch is described as "the best hole
since the original Black Angel discovery". At about 250 metres down
the hole, it intersected10.99m of 4.5% Pb and 12.2% Zn, which
includes a shorter interval of 5.38m of 8.0% Pb and 21.4% Zn (see
Table below for the breakdown of these composite values). The style
of mineralisation is similar to the original Black Angel deposit.
With this intercept, the extension of the Glacier Zone towards the
west (and further downdip along section lines 550 E and 500 E)
remains open.
The latest drill intercepts indicate a high potential for continued
massive sulphide mineralisation in an extensive and poorly explored
area north of the two lakes, between the Glacier in the east and the
Black Angel mine in the west. The new resource is likely to be
accessible from adits lower down the mountain side.
Our consultants Wardell Armstrong International (WAI) are being
requested to assess the economic viability of the SLG zone, for
mining initially as an open pit and subsequently from underground.
New resource estimates will be prepared later this year once all
assays have been received.
ASSAYS AND INTERCEPTS
The assays of the best intersections from the third batch of samples
covering 14 holes of the 37 drilled this year are shown in the table
below. Results from the remaining 11 holes are awaited. Assaying is
done by the ALS Chemex laboratory in Pitea in Sweden (preparation)
and in Vancouver.
Selected assays from the 2007 drilling programme
at the Black Angel Glacier Zone Zn/Pb
(Batch 3)
+----------------------------------------------------------------------------+
| Hole| Eastings| Northings| From| Intercept| Pb| Zn| Ag|
| | UTM 22| UTM W| | | | | |
|----------+----------+-----------+--------+-----------+------+------+-------|
| | (m)| (m)| (m)| (m)| (%)| (%)| (g/t)|
|----------------------------------------------------------------------------|
| |
|Glacier Prospect |
| |
|----------------------------------------------------------------------------|
| 07GLA059| 500949| 7889858| 133.38| 0.32| 8.4| 20.5| 52|
|----------+----------+-----------+--------+-----------+------+------+-------|
| 07GLA060| 500850| 7889872| 25.65| 0.58| 5.9| 5.8| 65|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 140.31| 0.46| 7.6| 16.8| 48|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 140.77| 1.01| 0.2| 1.3| 3|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 141.78| 0.37| 11.4| 27.3| 58|
|----------+----------+-----------+--------+-----------+------+------+-------|
| 07GLA062| 500752| 7889897| 5.47| 0.59| 0.0| 29.2| 4|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 183.33| 1.52| 9.0| 21.9| 53|
|----------+----------+-----------+--------+-----------+------+------+-------|
| 07GLA063| 500752| 7889897| 25.85| 0.36| 0.1| 28.0| 16|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 26.21| 1.24| 0.1| 2.3| 4|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 27.45| 0.34| 0.1| 13.5| 4|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 29.50| 1.08| 0.3| 15.5| 5|
|----------+----------+-----------+--------+-----------+------+------+-------|
| 07GLA065| 500650| 7889828| 251.42| 1.40| 7.7| 23.6| 38|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 252.82| 1.30| 3.7| 20.7| 25|
|----------+----------+-----------+--------+-----------+------+------+-------|
| 07GLA068| 500901| 7889870| 140.65| 0.56| 9.5| 23.1| 49|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 141.21| 0.47| 1.8| 6.2| 21|
|----------+----------+-----------+--------+-----------+------+------+-------|
| 07GLA070| 500553| 7889862| 250.26| 0.56| 4.2| 12.3| 13|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 250.82| 0.86| 0.2| 1.9| 1|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 251.68| 1.70| 0.1| 0.3| 8|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 253.38| 0.82| 1.0| 2.6| 5|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 254.20| 1.40| 10.0| 30.2| 39|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 255.60| 1.40| 9.2| 22.8| 45|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 257.00| 1.40| 6.3| 15.9| 28|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 258.40| 1.18| 6.4| 15.9| 29|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 259.58| 0.70| 0.0| 0.1| 1|
|----------+----------+-----------+--------+-----------+------+------+-------|
| | | and| 260.28| 0.97| 3.2| 8.4| 16|
+----------------------------------------------------------------------------+
MINE RE-OPENING PROGRESS
Re-installation of a cable car to the entrance of the mine is
proceeding. Blasting in the upper terminal continues to widen the
portals to accept the larger cable car and concrete modifications are
about to commence at the lower terminal. The cable car, motors,
drives etc., are now scheduled to be shipped to Maarmorilik in
November this year and should be operational in mid 2008 giving
access to the mine and a means of producing ore.
WAI are making good progress with the Bankable Feasibility Study for
the pillar extraction phase which is due in early November 2007.
Recently they, together with A&R personnel visited the Doe Run mine
in the USA where pillar extraction on a similar scale to that
proposed at the Black Angel is practiced.
In July WAI personnel spent seven days in the mine, (including the
Swedish Mine Superintendent who worked for Boliden in
1986-1990) mapping and checking all the pillars. As a result of this
visit they were able to confirm that conditions have not changed at
all since the mine was closed in 1990. In addition the electrical
system and rail transport system in the 4 kms of tunnels were all
found to be useable.
Robin Andrews, Chairman of Angus & Ross, commented:
"The spectacular intercept in hole 70 has reinforced our belief that
there are significant mineralised zones and reserves close to the old
Black Angel mine. When added to the reserves in the mine itself a
significantly larger mining plan can now be contemplated. In the
meantime good progress is being made towards the objective of
re-opening the mine and achieving production or ore in 2008."
For further information contact:
Angus & Ross PLC
Robin Andrews, Chairman 01751 430 988
Andrew Zemek, Chief Executive, Black Angel Mining Ltd 07850 755 450
Bishopsgate Communicatons
Nick Rome 0207 562 3366
Landsbanki Securities(UK) Limited
Fred Walsh 0207 426 9000
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 outlines standards of disclosure
for mineral projects.
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