Update re Black Angel
October 12 2006 - 3:01AM
UK Regulatory
RNS Number:3066K
Angus & Ross PLC
12 October 2006
12th October 2006
Angus & Ross PLC
Further Assay Results from Black Angel Drilling Programme
* 632 samples from 2006 drilling programme assayed, 71 results pending
* Mineralized intersections encountered in 42 out of 44 Glacier Zone
drill holes and 11 out of 15 Ark Zone drill holes
* High grade sulphide intersections of considerable thickness
encountered, e.g. hole 06GLA037 grading 2.7% lead and 7.9% zinc over
13.62 metres
* Geological modelling work commencing and civil engineering tenders in
course of preparation
Angus & Ross PLC (AGU) ("Angus & Ross" or the "Company") is pleased to announce
the third set of assay results from this summer's drilling programme at its
Black Angel zinc/lead property in West Greenland. The half-core testing
programme run by ALS Chemex in Vancouver has been completed, with 632 samples
having been tested. A further 71 samples, including bulk samples, channel
samples and whole core samples will be assayed at the laboratory of Wardell
Armstrong International ("WAI") in Cornwall as part of the metallurgical testing
programme. Of particular interest will be the results from dense media
separation test work, as it is believed that the new deposits may be amenable to
low cost upgrading prior to concentrate flotation.
A revised resource estimate incorporating the results of the new discoveries
will be prepared by WAI and is expected in November; geological modelling work
has already commenced.
From a preliminary assessment of the results, it appears that resources amenable
to open pit mining are being defined at both the Glacier and ARK deposits, part
of which could possibly produce early cash flow. However, most of the Glacier
Zone would have to be mined by underground methods.
Experienced civil engineering contractors visited the property in September and
the Company awaits specific quotes 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. These quotations will form part of the feasibility
study planned to commence later this year.
Drilling Results from the Black Angel zinc/lead project in Greenland
(Batch 5 and 6 - best intersections)
Hole Eastings Northings From Intercept Pb Zn Ag
UTM 22 UTM W
(m) (m) (m) (m) (%) (%) (g/t)
ARK Prospect (15 holes drilled, results pending from 1 hole)
06ARK012 501 478 7 887 486 63.00 7.53 0.2 6.2 2.4
06ARK013 501 478 7 887 486 58.68 1.04 0.3 5.6 3.0
Glacier Prospect (44 holes drilled, no results pending)
06GLA019 500 587 7 889 873 241.32 6.54 2.6 6.1 48.9
Including 0.86m at > 25% Zn
06GLA023 500 605 7 889 940 164.64 3.83 0.8 4.1 5.1
06GLA033 500 650 7 889 902 126.40 0.35 1.5 7.8 11.0
06GLA033 500 650 7 889 902 165.24 0.41 1.7 10.5 21.0
06GLA034 500 650 7 889 902 174.80 1.77 3.5 4.2 17.6
06GLA035 500 650 7 889 902 186.80 2.27 6.7 17.5 27.3
Including 1.41m at > 22% Zn
06GLA036 500 744 7 889 948 63.90 0.32 0.0 25.3 2.0
06GLA036 500 744 7 889 948 91.39 0.29 11.6 18.4 100.0
06GLA037 500 852 7 889 936 28.08 4.45 4.0 11.0 17.3
Including 1.36m at > 27% Zn
06GLA037 500 852 7 889 936 35.43 6.27 3.0 8.8 29.2
Including 0.92m at 32.1% Zn
06GLA038 500 900 7 889 991 38.97 2.71 2.5 6.8 17.0
Including 0.21m at > 30% Zn
06GLA040 501 100 7 889 884 62.60 1.28 2.6 6.5 14.0
06GLA042 501 151 7 889 884 36.65 1.25 2.2 7.3 18.6
Robin Andrews, Chairman of Angus & Ross, commented: "I am pleased that this
third and final set of assay results, mainly from the Glacier discovery,
continues to return the high grades shown in the previously announced results.
We now look forward to the results of the current metallurgical testing
programme and a preliminary resource statement presently being compiled by the
company's consultants."
Angus & Ross PLC
Robin Andrews, Chairman Tel: +44-1751 430 988
Andrew Zemek, Chief Executive, Black Angel Mining Ltd Tel: +44-7850 755 450
NB: This release has been approved by the Company's technical staff who include
Dr Bob Dowdell, Director of Black Angel Mining Ltd, who holds a BSc and
Doctorate in Mining Engineering from Newcastle University, is a Chartered
Engineer, and Member of The Institution of Mining and Metallurgy, 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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