TIDMALBA
RNS Number : 7446M
Alba Mineral Resources PLC
18 September 2023
Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector:
Mining
18 September 2023
Alba Mineral Resources Plc
("Alba" or the "Company")
Clogau Operational Update
Alba Mineral Resources Plc (AIM: ALBA) provides the following
update regarding the dewatering and associated safety and access
works at its primary target within the Clogau-St David's Gold Mine
in north Wales ("Clogau" or the "Mine"), the Lower Llechfraith
workings.
Key points
-- Applications progressing for formal variations to the discharge and abstraction permits.
-- Company refused its request for temporary extension to higher
rate abstraction to take account of exceptionally heavy rains in
July and August.
-- Company has commenced emergency abstraction to protect safety
and access works completed on Levels 2 and 3 prior to workings
reflooding.
-- Final bat exclusion and noise mitigation measure required to
be put in place prior to the Company commencing exploration
activities at Level 4, post dewatering, namely installation of
cabin structure on Llechfraith Adit level, has been completed.
-- Due to ongoing delays in CAA approval, Company now advised
that proposed airborne geophysical survey over some of Company's
key regional gold targets likely to be pushed back to October
2023.
Dewatering of Lower Llechfraith Workings
As announced on 16 August 2023, the Company has applied to the
environmental regulator, Natural Resources Wales ("NRW"), for
formal variations to the Company's water discharge and water
abstraction (or transfer) permits for the dewatering of the Lower
Llechfraith workings, in order to increase the applicable
thresholds under both permits. While the Company is not yet able to
advise of the likely timeline for the determination of its
applications, the Company has responded fully to all requests
received to date from the appointed case officers for both
applications. Upon obtaining the revised approvals, the Company
expects to proceed to a successful completion of the dewatering
process.
NRW has refused the Company's request for a temporary extension
to the higher rate (100m3/day) abstraction rate to take account of
the exceptionally heavy and unseasonal rainfall experienced in
north Wales during July and August, which was some three times
higher than the average rainfall for the time of year and which
resulted in the reflooding of the workings.
As a consequence, the Company has commenced an emergency
abstraction of water pursuant to the Water Resources Act 1991, in
order to safeguard the safety and access works which were completed
by Alba at Levels 2 and 3 of the Lower Llechfraith Workings prior
to those levels reflooding (Figure 1). Notice of the emergency
abstraction has been given to the regulator.
Alba's contractors have completed installing a cabin structure
on the Llechfraith Adit level, this being the final bat exclusion
and noise mitigation measure in advance of the carrying out of
exploration activities at Level 4, following completion of the
dewatering (Figure 2).
Regional Exploration
Regarding the planned geophysical survey by unmanned aerial
vehicle (or "UAV") over some of the Company's key regional gold
targets, further to the announcement on 16 August 2023 that the
Civil Aviation Authority (CAA) Operational Authorisation, which
sets out the agreed safety case for operating the UAV in the target
area, had been approved, the Company now advises that the CAA has
yet to complete the final step in the permitting process by
formally approving and notifying the proposed survey area. The
Company is advised, however, that this approval is expected in the
coming days. Given this further delay and the revised availability
of the Company's contractors, UAVE Limited, the current advice is
that the survey is now expected to be undertaken in October
2023.
Figure 1: Completed safety, access and bat exclusion measures on
Levels 2 and 3.
Figure 2: Completion of cabin construction at Llechfraith Adit
Level.
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 (0) 20 3003 8632
-----------------------------
St Brides Partners (Financial PR) alba@stbridespartners.co.uk
Isabel de Salis / Catherine Leftley
-----------------------------
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%
------------ -----------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDGLGDCSSBDGXI
(END) Dow Jones Newswires
September 18, 2023 02:54 ET (06:54 GMT)
Alba Min (AQSE:ALBA.GB)
Historical Stock Chart
From Nov 2024 to Dec 2024
Alba Min (AQSE:ALBA.GB)
Historical Stock Chart
From Dec 2023 to Dec 2024
