Aim-listed Anglesey Mining has started a preliminary economic assessment (PEA) for its Parys Mountain base and precious metals project, in north Wales, targeting a longer mine life beyond those indicated previously.
The PEA follows from the optimisation studies recently completed by QME Mining Technical Services (QME), which highlighted up to ten-million tonnes of potentially mineable material available at Parys Mountain, which is significantly larger than the 2.1-million tonnes of indicated resource that was used in the 2017 scoping study.
As a result of the QME work, the planned production rate of 1 000 t/d used in 2017 will be expanded, and the projected mine life of just eight years will be significantly extended.
"The QME optimisation work has given us a sound basis from which to complete the PEA. We are confident that the results from the PEA will confirm our expectation in the extent of the mineral resources at Parys Mountain, and will demonstrate improved outcomes and a longer mine life beyond those indicated previously,” said CEO Bill Hooley.
Mincon International, which prepared the 2012 resource estimate and the 2017 scoping study, was appointed to carry out the PEA for the copper/zinc/lead/gold/silver project, on the island of Anglesey.
The PEA will be finalised by the end of November, after which Anglesey plans to complete a preliminary feasibility study to support financing for development of the mine at Parys Mountain.