Western Metals Releases Parys Mountain Resources Data

by James Rogers
(UK)

Western Metals Limited, the Australian uranium miner, has released to the Australian Securities Exchange the Historical Mineral Resources information on the Parys Mountain Copper-Zinc-Lead Project near Amlwch on the island of Anglesey.

The Perth based company is carrying out a 120 day due diligence under an option agreement for outright purchase of the project site from Anglesey Mining plc.

Latest figures suggest a total resource of 7.76 million tonnes at 2.0% Copper, 2.4% Lead, 4.9% Zinc, 39 g/t Silver and 0.33 g/t Gold. These totals include inferred and indicative amounts.

WMT has taken historic estimates carried out by Robertson Research Limited in 1990 on the Engine and Carreg-y-Dol zones (though not under the JORC (2004) guidelines) and which involved over 60,000 metres of drilling.

They have also included more recent resource estimates at the White Rock zone in 2007.

The project area consists of Ordovician shales, Nebo Inlier (micaceous gneiss), Coedana granite, Lower Silurian shales, Lower Silurian Rhyolites and White Rock (a quartz-rich rock with sulphides).

Mineralisation mostly originates from volcanic rock and there are significant sulphie deposits of zinc, copper, lead, and some silver and gold.

Western Metals shows that there is potentially huge sulphide mineralisation of copper, zince and lead in the Central Zone directly below the Great Open cast, at a depth roughly between 275m and 450m.

At the White Rock and Carreg-y-Dol there are potential semi-massive deposits of copper, zinc and lead sulphides, just slightly north of the historic underground workings roughly between 150m and 300m.

Moving slightly further north from White Rock is the Northern Copper Zone. At between 375m and 650m, the data projects this zone to be rich in copper sulphides.

Finally, the Engine and Garth Daniel zone may yield significant copper, zinc and lead sulphides, below the Northern Copper Zone at roughly 525m to 700m.

Western Metals say that the project has strong local and government support.

So based on these findings and the continuation of strong global commodity demand, metal prices should remain high and so the viability of the project more likely.