24th August 2007
���
�
Angus & Ross PLC
(AIM:AGU)
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% 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
UTM 22
|
Northings
UTM W
|
From
|
Intercept
|
Pb
|
Zn
|
Ag
|
|
(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
Andrew Zemek, Chief Executive, Black Angel Mining Ltd
Bishopsgate Communications
Nick Rome
Landsbanki Securities(UK) Limited
Fred Walsh
|
01751 430 988
07850 755 450
0207 562 3366
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.
?