REG - Alba Mineral Resrcs. - Clogau Gold Mine Operational Update

Alba Mineral ResourcesAnnouncement

31/10/2022 07:00

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RNS Number : 5766E  Alba Mineral Resources PLC  31 October 2022

Alba Mineral Resources plc

("Alba" or the "Company")

 

Clogau Gold Mine Operational Update

 

Alba Mineral Resources plc (AIM: ALBA) is pleased to confirm, in respect of
its 100 per cent owned Clogau-St David's Gold Project ("Clogau" or the
"Project"), the submission of renewed permit applications to dewater the
Llechfraith Shaft and associated workings.

Situated within the Dolgellau Gold Field in north Wales, United Kingdom, the
Project comprises the Clogau Gold Mine (the "Mine"), where Alba has identified
a number of high priority gold targets through extensive exploratory drilling
in 2020-21, as well as a large number of gold targets and former gold workings
outside of the footprint of the Mine, within a total licence area of 106.94
km².

Details

The Company's primary target within the Mine is the projected Llechfraith
Shaft lode extension in the Lower Llechfraith workings, situated below the
Llechfraith Adit level. This target was identified through Alba's surface
drilling campaigns in 2020 and 2021, by which Alba was able to confirm vein
(or lode) continuity up to ~122 m below the existing Lower Llechfraith
workings (Fig. 1).  In order to gain access to that target, the Company must
first dewater the flooded Llechfraith Shaft (Fig. 2).

Following the refusal by the competent regulator, Natural Resources Wales
("NRW"), in November 2021 to grant the Company's application to dewater the
Llechfraith Shaft, in March 2022 Alba submitted additional data and analysis
to the regulator and, following the receipt of further feedback, proceeded to
implement an extension to the Company's programme of ecological and species
surveys in order to expand the ecological dataset generated during the past
3-4 years.

Following the completion of those surveys, analysis of the survey results and
their integration into the Company's overall dataset, Alba is pleased to
report that it has now submitted to NRW an updated version of its previous,
extensive "Report to Inform a Habitat Regulations Assessment", together with
renewed applications for a water discharge permit and a European Protected
Species licence in respect of the proposed dewatering exercise and subsequent
safety and exploratory works.

The Company was also pleased to host recently a site visit at Clogau for
senior NRW personnel.

Further material updates in respect of the permitting process will be provided
as and when they become available.

 

 

 

 

 

 

 

Figure 1: Llechfraith 3D geological model, integrating all surface drilling
programmes completed by Alba to date, showing the projected Llechfraith Shaft
lode extension some 122m below the flooded workings.

Figure 2: Cross-section of Lower Llechfraith area showing flooded Llechfraith
Shaft ("Main Shaft") and its associated workings.

Also shown is the location of proposed pumps and pipelines to draw water up to
Mine Yard for treatment   via sediment settlement tanks prior to discharge.

 

 

This announcement contains inside information for the purposes of
the UK Market Abuse Regulation and the Directors of the Company are
responsible for the release of this announcement.

**ENDS**

 

For further information, please visit www.albamineralresources.com
(http://www.albamineralresources.com) or contact:

 

Alba Mineral Resources plc

George Frangeskides, Executive Chairman                   +44 20 3950
0725

 

SPARK Advisory Partners Limited (Nomad)

Andrew
Emmott
 +44 20 3368 3555

 

OvalX (Broker)

Thomas
Smith
+44 20 7392 1494

 

St Brides Partners (Financial PR)

Isabel de Salis / Catherine Leftley
 alba@stbridespartners.co.uk

 

 

Alba's Projects and Investments

 Mining Projects Operated by Alba   Location   Ownership
 Clogau (gold)                      Wales      100%
 Dolgellau Gold Exploration (gold)  Wales      100%
 Gwynfynydd (gold)                  Wales      100%
 Limerick (zinc-lead)               Ireland    100%
 Investments Held by Alba           Location   Ownership
 GreenRoc Mining Plc (mining)       Greenland  54%
 Horse Hill (oil)                   England    11.765%

 

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