REG - Alba Mineral Resrcs. - Clogau Gold Mine Update

Alba Mineral ResourcesAnnouncement

18/01/2024 13:00

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RNS Number : 1893A  Alba Mineral Resources PLC  18 January 2024

Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining

18 January 2024

Alba Mineral Resources Plc

("Alba" or the "Company") 

 

Clogau Gold Mine Update

Lower Llechfraith Workings Dewatered to No. 4 Level

Alba Mineral Resources Plc (AIM: ALBA) is very pleased to announce that the
Company has succeeded in dewatering the Lower Llechfraith workings, its
principal gold target at the Company's 100% owned Clogau-St David's Gold Mine
in north Wales ("Clogau" or the "Mine"), down to No.4 Level.

Key Points

·     Following the grant of revised discharge and abstraction permits
granted to Alba in late December, allowing the Company to dewater the Lower
Llechfraith workings at a rate of up to 250 cubic metres per day, the Company
has now succeeded in dewatering the Lower Llechfraith workings down to No.4
Level (Figure 1).

 

·     Simultaneously with the dewatering exercise, the Company's
specialist geotechnical contractors have completed the installation of new
platforms and ladderways to allow access to No.4 Level as soon as it was
confirmed to be clear of water. Only shallow water now remains on No.4 Level,
which is expected to clear within 1-2 days, but the Level is now accessible on
foot.

 

·     Alba will now proceed to:

 

o  carry out a risk assessment on No.4 Level in respect of any further safety
works which may be required there;

o  commence preparatory works including the washing down of walls; and

o  plan and execute initial exploration work (mapping, sampling, 3D scanning)
on No.4 Level.

 

·     The dewatering exercise will continue in order to clear the target
area sufficiently below No.4 Level in preparation for the planned bulk
sampling of the Lower Llechfraith workings (Figure 1).

 

·     In respect of the airborne geophysical survey being undertaken over
Alba's key regional gold targets, Alba's contractors have advised that they
have completed the survey flights over the Castle Carndochan target area and
are now proceeding directly to the undertaking of the flights over the two
remaining survey areas, Hafod Owen and Gwynfynydd, weather permitting.

George Frangeskides, Executive Chairman, commented:

"We are delighted to have dewatered the Lower Llechfraith workings down to
No.4 Level.  Alba's COO Mark Austin and I were able to venture out onto No.4
Level this morning, the first time anyone has walked this key section of the
Clogau Gold Mine for decades.

"The news that the airborne surveys over some of our principal regional gold
targets have recommenced and are progressing well is also extremely
pleasing.  Our specialist consultants are on standby to commence the
compilation and interpretation of the geophysical data generated by the survey
as soon as it has been completed."

Figure 1: Approximate current water level shown, as well as further extent of
desired dewatering to be completed below Level 4 in preparation for planned
bulk sampling of the Llechfraith payshoot.

Figure 2: Chairman George Frangeskides descending the ladderway to Level 4 and
COO Mark Austin standing on Level 4 of the Lower Llechfraith Workings on 18
January 2024

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.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
timing and granting of regulatory and other third party consents and
approvals, uncertainties regarding the Company's or any third party's ability
to execute and implement future plans, and the occurrence of unexpected
events. Actual results achieved may vary from the information provided herein
as a result of numerous known and unknown risks and uncertainties and other
factors.

**ENDS**

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

 Alba Mineral Resources plc                 +44 20 3950 0725

 George Frangeskides, Executive Chairman
 SPARK Advisory Partners Limited (Nomad)    +44 20 3368 3555

 Andrew Emmott
 CMC Markets plc (Broker)                   +44 20 3003 8632

 Thomas Smith / Douglas Crippen

 

 

 Alba's Projects & Investments
 Projects Operated by Alba          Location   Ownership
 Clogau (gold)                      Wales      100%
 Dolgellau Gold Exploration (gold)  Wales      100%
 Gwynfynydd (gold)                  Wales      100%
 Investments Held by Alba           Location   Ownership
 GreenRoc Mining Plc (mining)       Greenland  37.49%
 Horse Hill (oil)                   England    11.765%

 

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