Alba Mineral Resources PLC Clogau Gold Mine Update (1893A)
18 January 2024 - 11:45PM
UK Regulatory
TIDMALBA
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 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
------------------
CMC Markets plc (Broker)
Thomas Smith / Douglas Crippen +44 20 3003 8632
------------------
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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