TIDMALBA
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 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
----------------------
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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