17th
October 2007
ANGUS
& ROSS plc
( AIM:AGU.L )
BLACK ANGEL UPDATE
Final
batch of results from Glacier drilling and further progress towards Black Angel
mine re-opening
- More high grade Zinc/Lead
intersections from the Glacier discovery including 2.13 metres
@ 20.1% Zinc and 10.2% Lead;
- Updated Resource Statement
currently being prepared by Wardell Armstrong;
- Expanded drilling programme planned for 2008; and
- Cable car en route for Greenland and construction of terminals continuing.
Angus & Ross
plc ( ?Angus & Ross ? or the ?Company? ) is
pleased to provide the latest drilling update from its Black Angel mine in Greenland. The final batch of assays from the last
five holes of the drilling programme carried out this
year on the Glacier discovery near the Black Angel mine have been received from
ALS Chemex Laboratories in Vancouver. The important drill
intersections are tabulated below.
Hole No.
|
From
|
To
|
Metres
|
% Pb
|
% Zn
|
% Fe
|
g/t Ag
|
72
|
265.05
|
267.18
|
2.13
|
10.2
|
20.1
|
4.7
|
34
|
72
|
271.06
|
272.26
|
1.20
|
1.6
|
6.8
|
2.0
|
7
|
73
|
289.76
|
290.60
|
0.84
|
6.0
|
15.9
|
18.2
|
36
|
74
|
283.52
|
284.90
|
1.38
|
3.6
|
9.3
|
3.2
|
20
|
75
|
130.06
|
132.94
|
2.88
|
0.0
|
16.2
|
5.4
|
10
|
75
|
306.76
|
307.34
|
0.58
|
3.5
|
8.7
|
7.9
|
20
|
75
|
319.55
|
321.77
|
2.22
|
3.1
|
7.9
|
6.6
|
21
|
Overall
these are very good results which have followed the trend of the high grade
Glacier ore body, discovered last year, and which is still open to the west and
at depth. Previously announced results have indicated that the ore body
pinches and swells with mining widths varying between half a metre and ten metres; many assays
contained more than 15% combined zinc and lead.
The Glacier zone is
the third largest body of mineralisation ever
found at the Black Angel property, after the Angel and Cover zones.
It is now known to extend 650
metres along its east-west
strike, this year?s drilling
having extended the zone of mineralisation roughly 150 metres
to the west where it remains open. A major fault structure is known
to cross the strike at some point but interestingly, there are
several surface showings, all to the west of the Glacier zone and
further diamond drilling is therefore planned for 2008.
New structural
interpretations suggest the Glacier zone could be connected to the ARK zone. In fact
many of the numerous surface showings could be linked and further drilling will
be undertaken next year to investigate this.
The
thirty one holes completed this year and comprising 7,353 metres
of diamond drilling should increase resources considerably. The Company?s consultants Wardell
Armstrong International are presently preparing an up to date Resource
Statement for the Glacier zone as well as a Bankable Feasibility Study
pertaining to early pillar extraction from the old Black Angel mine itself.
Pictures have just
been received of the various components of the cable car leaving Switzerland en
route by land for Aalborg in Denmark and then by ship to Greenland. The
ship is expected to arrive in Greenland by the
end of October. The mine adit, 600 metres
above the fjord, will be connected to the base camp about 1.5 km away by the cable
car. Stringing of the cable will start later this winter and full
installation is planned for May/June next year. In the meantime the civil
engineering work on the terminals is proceeding.
Robin Andrews, Chairman of Angus & Ross, commented:
?The
2007 exploration season in Greenland has been
very successful as can be seen from the recent news releases detailing the
drilling results. In addition, considerable progress has been made in the
interpretation of the structural geology of the region so that planning is already
underway for a much enhanced exploration programme in
2008. In the meantime work continues towards the installation of a cable
car which will provide access for the production of high grade ore from the
existing pillars and will also enable exploration drilling to be undertaken
within the mine?.
For further information contact:
Angus & Ross plc
Robin Andrews, Chairman
Nick Hall, Chief Executive
Andrew Zemek, Chief Executive, Black Angel Mining Ltd
Bishopsgate Communications Limited
Nick Rome
Landsbanki Securities (UK) Limited
Fred Walsh
Martin Potts
|
01751 430 988
07931 709 053
07850 755 450
0207 562 3366
0207 426 9000
0207 426 9000
|
NB: This release
has been approved by the Company's technical staff 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.
These 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; and Dr Robert Dowdell formerly a mine
superintendent of the Black Angel Mine who obtained his Doctorate in Rock
Mechanics from University of Newcastle upon Tyne .