First results of Black Angel 2007 exploration
August 24 2007 - 11:51AM
UK Regulatory
First results of Black Angel 2007 exploration
28th August 2007
Angus & Ross PLC
First results of Black Angel 2007 exploration
* Excellent results obtained from the first 12 holes drilled
this year.
* 7,350 metres of diamond drilling in 32 holes completed.
Drilling continuing.
* "Glacier Zone" resource growing along strike and at depth.
Now third largest found in Black Angel area.
* Results include mineralised sections up to 66m thick (hole
48) with varying grades of Zinc (Zn) and Lead (Pb) (See Table
below).
* Also many other high-grade intercepts over shorter lengths
- 3.12m @ 16.5% Zn and 6.8% Pb in hole 54, 3.02m @ 14.8% Zn and
4.7% Pb in hole 50.
* Exploration of newly acquired and nearby Appat and
Ukkusissat licence areas suggest large potential resource.
Angus & Ross PLC (AGU) ("Angus & Ross" or the "Company") is pleased
to update its shareholders with the excellent results, so far, of the
exploration at its Black Angel Zinc / Lead Project in West Greenland.
THE DRILLING
To date 7,350 metres of diamond drilling in 32 holes have been
completed at the South Lakes Glacier (SLG) zone. So far the first
two batches of assays from the first 12 holes have been received.
High grade intersections have been found in 6 of the 12 holes
reported, which should add significant tonnage to the 1.8 million
tonne resource from last year already reported.
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). Building on this success, the
main objective of the 2007 programme was to 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 especially along strike
to the west.
The structural re-interpretation of another mineralised zone, named
'Lakeshore', which has never been drilled in earlier programmes,
indicates that it lies in a similar structural and stratigraphic
setting to the main SLG discovery. This mineralised zone, located 1.2
km south of the SLG, is currently being tested by drilling.
RESULTS
Very high grade and potentially economic intersections have been
found in 6 of the 12 holes reported, which are adding significant
tonnage to the resource reported last year. The best intercepts
include mineralisation spread over an interval of approximately 66
metres in hole 48, 3.12 metres of 16.5% Zn and 6.8% Pb in hole 54 and
3.02 metres of 14.8% Zn and 4.7% Pb in hole 50 (see table below).
This mineralisation occurs in the form of massive sulphides with
buckshot texture, semi- massive sulphides, disseminations and
"veinlets", i.e. similar in style to the original Angel Zone
mineralisation.
The latest drill intercepts indicate a high potential for continued
massive sulphide mineralisation at depth, 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.
OTHER AREAS
Recent structural re-interpretation and exploration of the newly
acquired licence areas near Ukkusissat and on Appat Island have also
commenced. The licence (totalling 72 sq km) is located 20km South
West from Black Angel and was granted to Angus & Ross plc in January
2007. Based on previous drilling results (from 1979), the Ukkusissat
area alone contains of the order of 500kt of Zn/Pb mineralisation.
Further geological mapping and structural re-interpretation indicate
that the mineralised zone is open along strike, suggesting a very
large potential resource. Mineralisation is high grade, very similar
to the Black Angel mine, and in the same geological settings. These
prospects are likely to be drilled next year. The total landholding
of the Company in the Black Angel area is now 259 sq km.
New resource estimates will be prepared by Wardell Armstrong
International, once all the assays from this year's drilling have
been received.
THE PEOPLE
The 20-strong team is lead by Frank van der Stijl, the former Chief
Geologist of the Black Angel mine and a geologist with over 20 years
of experience in Greenland. Ukkusissat and Appat Island exploration
is headed by Dr. Guy Della Valle, a Swiss geologist, who has explored
the area since the 1970s and conducted drilling there in year 1979.
Both have been working with Angus & Ross for the past 3 years.
Significant contribution to the understanding of the structural
geology has been made by Dr Dave Coller, who is supporting the team
for the second year.
THE ASSAYS AND INTERCEPTS
The assays of the best intersections from the first two batches of
samples are shown in a table on page 3 (12 holes out of 32 drilled so
far). 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
+---------------------------------------------------------------------------+
| Hole| Eastings| Northings| From| Intercept| Pb| Zn| Ag|
| | UTM 22| UTM W| | | | | |
|----------+----------+-----------+--------+-----------+-----+------+-------|
| | (m)| (m)| (m)| (m)| (%)| (%)| (g/t)|
|---------------------------------------------------------------------------|
| |
|Glacier Prospect (32 holes drilled so far, results pending from 20 holes) |
| |
|---------------------------------------------------------------------------|
| 07GLA045| 500698| 7889904| 217.65| 1.35| 1.8| 5.5| 10|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| 07GLA046| 500650| 7889902| 192.95| 0.40| 5.1| 9.7| 12|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| | | and| 196.66| 4.71| 3.2| 9.3| 16|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| 07GLA047| 500546| 7889942| 236.20| 0.36| 2.1| 7.0| 14|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| | | and| 238.17| 0.23| 2.1| 5.7| 16|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| 07GLA048| 500546| 7889942| 151.85| 0.95| 4.3| 18.3| 32|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| | | and| 169.25| 2.30| 3.6| 6.6| 18|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| | | and| 174.76| 2.58| 3.9| 7.0| 19|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| | | and| 190.45| 2.42| 3.1| 8.8| 15|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| | | and| 200.95| 0.91| 3.2| 13.8| 10|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| | | and| 211.65| 2.13| 2.7| 5.4| 16|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| 07GLA050| 500502| 7889978| 213.03| 4.07| 2.6| 4.6| 11|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| | | and| 220.59| 0.59| 7.0| 20.7| 34|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| | | and| 228.40| 3.02| 4.7| 14.8| 25|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| 07GLA052| 500505| 7889868| 249.07| 0.73| 2.7| 20.5| 29|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| 07GLA054| 500800| 7889867| 162.70| 3.12| 6.8| 16.5| 38|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| 07GLA055| 500800| 7889867| 184.75| 0.53| 1.3| 4.6| 12|
|----------+----------+-----------+--------+-----------+-----+------+-------|
| 07GLA056| 500800| 7889815| 188.49| 0.34| 1.4| 4.5| 31|
+---------------------------------------------------------------------------+
Robin Andrews, Chairman of Angus & Ross, commented: " These first
results of the 2007 drilling programme are particularly exciting. We
are continuing to delineate an increasingly important resource in the
South Lakes Glacier zone, one which may eventually prove to be a
major deposit. The "Lakeshore" mineralised zone, currently being
drilled, is also promising - lying as it does in the same
stratigraphic setting as the South Lakes Glacier. Furthermore, with
a new structural model in mind, the re-assessment of the Ukkusissat
and Appat Island showings confirms their high potential to host Black
Angel type deposits."
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.
- ---END OF MESSAGE---
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