REG - Alba Mineral Resrcs. - Operational Update

Alba Mineral ResourcesAnnouncement

13/11/2023 07:00

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RNS Number : 1593T  Alba Mineral Resources PLC  13 November 2023

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

13 November 2023

Alba Mineral Resources Plc

("Alba" or the "Company") 

 

 

Operational Update

Clogau Mine and Dolgellau Gold Exploration Project

Alba Mineral Resources Plc (AIM: ALBA) provides the following update regarding
the ongoing operations at the Clogau-St David's Gold Mine ("Clogau" or the
"Mine") and the Dolgellau Gold Exploration Project in north Wales.

Key points

Clogau-St David's Gold Mine

·     Grant of extension to European Protected Species Licence.

 

·     Applications progressing for formal variations to the discharge and
abstraction permits, with abstraction permit now in public consultation
period.

 

·     Emergency abstraction ongoing with Lower Llechfraith workings
remaining fully dewatered down to Level 3, thereby protecting the safety and
access works recently installed there.

 

·     Acoustic test blasting and sampling successfully completed with
noise levels all confirmed to be within agreed thresholds.

Dolgellau Gold Exploration Project

·     Sample taken from Caerwych Prospect returns 1.365% copper.

 

·     Contractors for airborne geophysical survey remain on standby to
commence survey once weather conditions allow.

Details

Clogau-St David's Gold Mine

The Company is pleased to report that its application for an extension to the
duration of its European Protected Species Licence ("EPSL") has been formally
granted by Natural Resources Wales ("NRW").  The new permit entitles the
Company to continue its operations to dewater and explore the Lower
Llechfraith workings at Clogau continuously from now until 31 September
2024.  This is significant as it means that once the Company has completed
the dewatering of the workings down to Level 4, it will be able to roll out
its planned exploration programme at Level 4 without interruption, including
throughout the winter hibernation period. This is testament to the robustness
of the exclusion zone which has been constructed by the Company in order to
seal off the Lower Llechfraith workings from protected species, notably bats.

The integrity of the exclusion zone was further tested recently from an
acoustics perspective, with the Company's specialist acoustic consultants
recording the noise levels of various exploration activities (rock loading and
tipping, drilling, jet washing, channel sampling and blasting) to ascertain
whether any of those activities would exceed the noise levels set by agreement
with NRW.  The Company is pleased to report that all noise levels were
confirmed to be well within the permitted levels.

Indeed, the original plan was to carry out this acoustic test work on Level 4,
however, as that remains flooded, the acoustic test work was moved to Level 3.
As Level 3 is appreciably closer (approx. 9-10 metres in vertical extent) to
the boundary of the exclusion zone than Level 4, the fact that the activities
on Level 3 were all completed within acceptable noise levels is very pleasing,
as it can reasonably be concluded that the noise levels from the exploration
activities to be conducted on Level 4 will be appreciably lower still.

Figure 1: Cross-section of Lower Llechfraith workings showing location of test
exploration activities conducted on Levels 1 and 3 (red circles) and location
of noise measurements taken (green circles). All workings to the left of, and
below, the bat exclusion cabin are within the bat exclusion zone.

Regarding the Company's applications for formal variations to its existing
discharge and abstraction permits to enable it to dewater the workings at
higher rates, while these applications have not yet been granted, the Company
is pleased to report that the abstraction permit application entered the
statutory 28-day public consultation on 8 November 2023.  The discharge
permit application is not subject to public consultation.  Upon obtaining the
revised approvals, the Company expects to proceed to a successful completion
of the dewatering process and then to progress to exploration of the Lower
Llechfraith workings pursuant to the permission now granted, as referred to
above, by the newly extended EPSL.

In the meantime, the Company is continuing to implement emergency abstraction
measures within the reflooded Lower Llechfraith workings at Clogau in order to
safeguard the safety and access works installed on Levels 2 and 3. The Company
intends to continue the emergency abstraction until the grant of increased
abstraction and discharge thresholds.

Dolgellau Gold Exploration Project

As reported on 16 October 2023, Alba has recently conducted follow-up field
reconnaissance at the historic Caerwych mine site. Five samples were sent to
an independent assay laboratory, with one notable spoil tip sample returning
1.365% copper.  Further work is planned for this highly prospective site.

Regarding the planned geophysical survey by unmanned aerial vehicle (or "UAV")
over some of the Company's key regional gold targets, since the grant of
formal approval by the Civil Aviation Authority ("CAA"), the Company's
contractors have been on standby to mobilise to site and commence the first
survey flight. However, to date wind speeds have been above operational
limits. The Company's contractors continue to monitor weather conditions on a
daily basis.

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 (0) 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  42.97%
 Horse Hill (oil)                   England    11.765%

 

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