Further Successful Gold Pour at Nalunaq Mine
Angel Mining plc (the "Company" or "Angel Mining")
AIM: ANGM
The Board of Angel Mining is pleased to announce that a further 11.73 kilograms (377 ounces) of gold doré was successfully poured at Nalunaq on Thursday, 15 September 2011. This will be shipped to Switzerland for refining and subsequent sale over the coming weeks following a further production pour.
|
Month |
Kilograms |
Troy ounces |
|
May |
0.93 |
29.90 |
|
June |
1.26 |
40.51 |
|
July |
5.97 |
191.94 |
|
August |
9.89 |
317.96 |
|
September |
11.73 |
377.12 |
|
Total |
29.78 |
957.43 |
This recent pour was the largest to date and the Directors believe this is indicative of both improved recovery by the plant and the increased grade of the feed ore . The Company has been improving the efficiency of the process plant and is pleased to see the results of these efforts evidenced by the latest gold pour. There is still scope for further improvements and the replacement atomic absorption machine, referred to in previous announcements, is due to arrive within the next few weeks. This machine will help the team to achieve the highest practical level of gold recovery.
Nicholas Hall, CEO, commented: "The latest pour marks yet another important advance in our strategy of maximizing the cash generation from Nalunaq and using the proceeds to develop a successful operation at the Black Angel zinc/lead mine. We are pleased with the progress at Nalunaq but the Black Angel mine remains the Company's primary longer term asset with a JORC resource of 4.425mt of high grade zinc and lead (as announced on 9 June 2011)."
| Enquiries: | |
|---|---|
| Angel Mining plc Nicholas Hall, Chief Executive Officer |
07931 709 053 |
| Angel Mining plc Kevin McNair, Chief Financial Officer |
07900 690 908 |
| Fox-Davies Capital (Broker) Philip Davies |
0203 463 5014 |
| WH Ireland Limited (Nominated Advisor) Daniel Bate |
0161 832 2174 |
| Bishopsgate Communications Limited Michael Kinirons |
0207 562 3350 |