REG - Alba Mineral Resrcs. - Operational Update

Alba Mineral ResourcesAnnouncement

27/03/2023 07:00

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RNS Number : 2327U  Alba Mineral Resources PLC  27 March 2023

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

 

27 March 2023

Alba Mineral Resources Plc

("Alba" or the "Company") 

 

Operational Update

 

Alba Mineral Resources Plc (AIM: ALBA) provides the following operational
update in relation to its 100% owned Clogau-St David's Gold Project ("Clogau"
or the "Project") and Dolgellau Gold Exploration Project ("DGEP") in north
Wales.

 

Permitting of Lower Llechfraith Activities

 

In relation to the Company's applications for water transfer and discharge
permits and a European Protected Species licence ("EPSL") in respect of the
proposed dewatering exercise and subsequent safety and exploratory works at
the Company's primary target within the Lower Llechfraith workings at Clogau,
the Company has recently received comments from Natural Resources Wales
("NRW") covering a relatively narrow set of points relating to the EPSL
including noise mitigation measures, biosecurity and the duration of the
proposed exclusion measures for bats.  The Company is in the process of
compiling responses to these EPSL queries, including generating some further
limited baseline data, with the aim of reverting to NRW with full responses
within the next two weeks or so.  Once it has confirmed that it has no
outstanding queries, the Company is hopeful that NRW will proceed to a
decision soon thereafter on the grant of the permits so that the Company's
dewatering activities may proceed.

 

Until such time as the permitting of these activities is secured, the Company
advises that other significant ground-based activities in or adjacent to the
Clogau-St David's Mine which involve permitting will likely be deferred,
notably including the permitting of the waste tip for commercial exploitation.
However, as soon as the permitting of these key activities has been secured,
including the completion of the Habitat Regulations Assessment ("HRA") which
is at the same time being carried out by NRW in relation to the whole Project,
the Company intends to push forward with its permitting and technical
activities in relation to the waste tip.  Generally, the Company is hopeful
that the HRA will provide the framework for a more streamlined permitting
process moving forward.

 

Airborne Geophysical Survey

Regarding the Company's plans to conduct a high-resolution aeromagnetic
geophysical survey over certain of its high-grade regional gold targets within
the DGEP, the Company understands from its contractor, UAVE Limited ("UAVE"),
that the latest estimated timetable from the Civil Aviation Authority ("CAA")
to approve the proposed Airspace Change is by the end of April. Thereafter,
UAVE will submit a variation to the CAA Operational Authorisation to allow it
to operate UAV flights within the newly created Temporary Danger Area, which
is expected to take around 30 days. This would provide a window for the survey
operations over the DGEP between June and August.

Further material updates will be provided as and when they become available.

 

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  

George Frangeskides, Executive Chairman
+44 20 3950 0725 

 SPARK Advisory Partners Limited (Nomad)   

Neil Baldwin / 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%
 Investments Held by Alba           Location   Ownership
 GreenRoc Mining Plc (mining)       Greenland  44.7%
 Horse Hill (oil)                   England    11.765%

 

 

 

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