TIDMALBA
RNS Number : 0794E
Alba Mineral Resources PLC
05 July 2021
Alba Mineral Resources plc
("Alba" or the "Company")
Clogau-St David's Gold Mine Update
Preliminary Bulk Sample Assay Results
Alba Mineral Resources plc (AIM: ALBA) is pleased to announce
that all remaining assay results on bulk sample concentrates
produced at the Company's pilot processing plant at the Clogau-St
David's Gold Mine (the "Mine") have been received by the Company
from an accredited independent laboratory. Results received in this
final batch of results significantly exceed results from the
previous results announced on 26 May 2021.
Key Points
-- Concentrates produced returned grades up to 461 g/t
-- Concentrates produced from the Grandfathers Stope ranged from
86.8 g/t Au to 461 g/t Au with an average of 187 g/t Au
-- Results significantly exceed assay results of bulk sample
concentrates announced previously which had returned grades of 20.4
to 165.5 g/t
-- Planning is progressing for the identification of new,
unworked veins for bulk sampling later in 2021
Alba's Executive Chairman, George Frangeskides, commented:
"These represent by far the best results obtained from the
assaying of the preliminary bulk sample concentrates collected from
the Clogau-St David's Gold Mine. The pilot plant continues to
operate very well, with negligible values returned from the
tailings."
"We plan to continue with the bulk sampling later this year once
the current phase of drilling has been completed . An update on the
progress of drilling and other work activities at the Mine will
follow separately."
Details
The Company has completed the assaying of the concentrates which
were produced from the preliminary bulk sample collected from the
Clogau-St David's Gold Mine. All assays were produced at an
independent accredited laboratory.
As previously advised, this first bulk sample was taken from
previously worked areas of the Mine, and as such the Company was
not anticipating high-grade results from this initial processing
exercise. However, Alba is very pleased to report that the results
for this latest set of concentrates include some very notable
grades, as set out in Table 1 below.
These results returned grades up to 461 g/t, with concentrates
produced from the Grandfathers Stope ranging from 86.8 g/t Au to
461 g/t Au with an average of 187 g/t Au.
The results significantly exceed assay results of bulk sample
concentrates announced on 26 May 2021 which had returned grades of
20.4 to 165.5 g/t Au.
Table 1: Assay results based on geographic locations within the
Mine
Location Conc. Mass High Value g/t
Kgs Weighted Average Grades Au
Centrifuge Sluicemat
g/t Au g/t Au
Jack Williams
Stope 23.463 40.99 27.41 138
---------------
Grandfathers
Stope 0.768 100.34 298.17 461
--------------- ------------- ----------- ---------------
S Cornel 710
Lode 4.937 2.9 1.24 5.26
--------------- ------------- ----------- ---------------
Llechfraith
Level 15.119 9.77 1.63 8.54
--------------- ------------- ----------- ---------------
2019 Floor
Samples 8.777 33.26 1.19 165.5
--------------- ------------- ----------- ---------------
As before, the variability of grades is to be expected and is
indicative of two principal factors: firstly, the fact that these
initial bulk samples have been taken from previously worked areas
of the Mine, meaning that those areas - unlike the new areas which
the Company is targeting - are much more likely to host lower
remnant grades; and secondly, that gold distribution at Clogau is
known to be irregularly disseminated.
The irregular distribution and grade of gold is a function of
the high nuggety-effect of the Clogau vein system, which is why
Alba's exploration strategy has always been based on a combination
of drilling, to identify gold-bearing structures, and bulk
sampling, to obtain a representative idea of gold grade. Thus far,
the Company has yet to combine these strategies in a particular
zone, as all the bulk sampling last year was carried out in
previously mined areas, not areas which have been identified
through Alba's own drilling. This will change in the course of the
current underground programme, as Alba expects to take bulk samples
from new and unworked veins which have been identified through the
Company's own exploration activities, and where the prospects for
higher-grade mineralisation are therefore expected to be
greater.
The primary goal of this initial test processing phase has been
to confirm that the pilot processing plant built by the Company
performs well in terms of its ability to extract and concentrate
coarse gold. This has been confirmed by these results. The pilot
plant has performed with a high degree of efficiency and has
demonstrated that it can extract and concentrate the coarse gold
efficiently. This is validated by the fact that the tailings values
returned negligible gold grades.
A separate announcement will be released in the near term to
provide an update on the progress of underground and surface
drilling activities and other related work activities at the
Mine.
All activities and timelines in this announcement are subject to
the timely receipt of regulatory and other third-party consents and
to the timely availability of contractors, plant and equipment.
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.
Glossary
Jack Williams: The Jack Williams Stope is the most westerly mined portion of the Main Lode.
Main Lode: The main quartz vein structure along which the
majority of historic mining took place at Clogau-St David's. The
Main Lode was mined from the Jack Williams Stope for approximately
300m eastwards to the Bryntirion Fault, on the other side of which
it was mined over a strike of at least 150m at the St David's
Mine.
Mineralisation: Any single mineral or combination of minerals
occurring in a mass, or deposit, of economic interest. The term is
intended to cover all forms in which mineralisation might occur,
whether by class of deposit, mode of occurrence, genesis or
composition.
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.
Without prejudice to the generality of the foregoing,
uncertainties also exist in connection with the ongoing Coronavirus
(COVID-19) pandemic which may result in further lockdown measures
and restrictions being imposed by Governments and other competent
regulatory bodies and agencies from time to time in response to the
pandemic, which measures and restrictions may prevent or inhibit
the Company from executing its work activities according to the
timelines set out in this announcement or indeed from executing its
work activities at all. The Coronavirus (COVID-19) pandemic may
also affect the Company's ability to execute its work activities
due to personnel and contractors testing positive for COVID-19 or
otherwise being required to self-isolate from time to time.
Actual results achieved may vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors.
Competent Person Declaration
The information in this release that relates to Exploration
Results has been reviewed by Mr Mark Austin. Mr Austin is a member
of SACNASP (Reg. No. 400235/06), Fellow of The Geological Society
and Fellow of the Geological Society of South Africa. He has a
B.Sc. Honours in Geology with 38 years' experience.
Mark Austin has sufficient experience that is relevant to the
style of mineralisation and type of deposit under consideration and
to the activity being undertaken to qualify as a Competent Person
as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration targets, Exploration Results, Mineral
Resources and Ore Reserves', also known as the JORC Code. The JORC
code is a national reporting organisation that is aligned with
CRIRSCO. Mr Austin consents to the inclusion in the announcement of
the matters based on his information in the form and context in
which they appear.
For further information, please contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
Cairn Financial Advisers LLP (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
Alba's Project and Investment Portfolio
Project (commodity) Location Ownership
Mining Projects
Amitsoq (graphite) Greenland 90%
----------- ----------
Clogau (gold) Wales 90%
----------- ----------
Gwynfynydd (gold) Wales 100%
----------- ----------
Inglefield (copper, cobalt,
gold) Greenland 100%
----------- ----------
Limerick (zinc-lead) Ireland 100%
----------- ----------
Melville Bay (iron ore) Greenland 51%
----------- ----------
TBS (ilmenite) Greenland 100%
----------- ----------
Oil & Gas Investments
Horse Hill (oil) England 11.765%
----------- ----------
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END
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