TIDMALBA
RNS Number : 1906V
Alba Mineral Resources PLC
29 November 2019
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Alba Mineral Resources plc
("Alba" or the "Company")
Maiden Drilling Programme at Clogau Gold Mine
Successfully Intersects Target Geology
Alba Mineral Resources plc (AIM: ALBA), the diversified mineral
exploration and development company, is pleased to announce that
the Company has completed its maiden exploration drilling campaign
targeting extensions to the Llechfraith mine workings, which are
part of the overall Clogau-St David's Gold Mine ("Clogau" or the
"Mine") in North Wales.
The drilling sequence successfully intersected intrusive
greenstones and shear zones dominated by intermixed Clogau shale
and quartz veining. This is the geological setting for all known
historical gold mining at Clogau.
Highlights
-- Completion of the first ever exploration drilling campaign at
the Clogau-St David's Gold Mine to the Company's knowledge,
targeting extensions to the Llechfraith mine workings.
-- Drill-holes GMOW002 and GMOW003 both intersected shear
zone-hosted quartz veining up to 25 metres below the lowest known
Llechfraith workings. This therefore confirms the continuity of the
mined shear zone structure at least 25 metres down dip of the
historic mine workings.
-- This is significant as it is this geological setting of
shear-zone hosted quartz veining which is the primary setting for
all the historic gold mining in the Clogau-St David's Mine,
including at the Llechfraith mine area.
-- The drill core is being sent to an accredited laboratory for assaying.
George Frangeskides, Executive Chairman, commented:
"I am very pleased to report that our drilling programme into
the Llechfraith mine area has achieved its primary objective, which
was to demonstrate that the shear zone-hosted quartz veins in the
Llechfraith mine area continue down below the lowest level of the
historic workings, being the No. 4 level. This is significant,
because shear zone-hosted quartz veining is the primary setting for
all the historic gold mining at the Clogau-St David's Mine."
"In our short, two-year, period of involvement with the Clogau
Gold Mine, we have already accomplished significant milestones. We
are the first group to have ever systematically explored the
Dolgellau Gold Belt, as a result of which we have been able to
identify no fewer than 10 new gold anomalies there. We have
undertaken the most extensive rehabilitation and safety works
within the Mine carried out over the past few decades, if not
longer, such that large areas of the Mine are now accessible to us
as we seek to identify extensions to the gold-bearing quartz veins.
And we are now the first group in the Mine's history, to our
knowledge, to have ever undertaken exploration drilling at
Clogau."
"This is an exciting and unique project, and we look forward to
hitting further significant milestones in the coming year as we
seek to bring Clogau back into commercial production in the
shortest possible timeframe."
Drilling Programme
The maiden drilling programme at the Clogau Gold Mine targeted
extensions to the Llechfraith mine area, shown in Figure 1 in the
PDF version of this announcement.
Three drill-holes have been completed for a total of 158m. All
holes were drilled on the south side of the Llechfraith mine
workings and from within Alba's freehold land area. Of the three
drill-holes completed, GMOW002 and GMOW003 reached the target
depths with GMOW001 being terminated early to preserve drill metres
and once an initial downhole survey had been completed.
The primary objective of this short programme was to drill for
structure, that is to identify whether the known gold-bearing
geological setting at the Llechfraith mine area continues down dip
of the deepest worked level, being Level No. 4. Alba is very
pleased to confirm that both main drill-holes completed, GMOW002
and GMOW003, intersected a sequence of intrusive greenstones or
microdiorite followed by a shear zone dominated by intermixed
Clogau shale and quartz veining. It is this geological setting
which is the primary setting for all the historic gold mining in
the Clogau-St David's Mine, including at the Llechfraith mine
area.
An examination of the drill core found sulphide mineralisation
to be present within the shear zone hosted quartz vein, with Clogau
shale intersected on the footwall side of the shear zone (see
Figures 2 to 4 in the PDF version of this announcement).
The shear zone-hosted quartz veining, which is the target host
material of the gold-bearing system at Clogau, was intersected
approximately 25m below the lowest known mine level at Llechfraith,
confirming the continuity of the shear zone system into unworked
areas of the deposit. As such, the primary objective of the
drilling programme which, as set out in our announcement of 14
November 2019 was to ascertain whether the known gold-bearing
setting within the Llechfraith Mine area continues down dip of
existing workings, has been achieved and answered in the
affirmative.
Given the nature of the geological setting at Clogau, where gold
has previously been found within narrow quartz veins at the contact
with greenstones, combined with the modest amount of drilling that
was undertaken to test the structure at Llechfraith, it was not
expected that the drilling would necessarily intersect gold
mineralisation. Nonetheless, the drill core will be assayed at an
accredited laboratory to confirm any gold content and the presence
of any other mineralisation. Irrespective, this drilling campaign
has increased the Company's confidence in the Llechfraith mine area
as a potential economic source of future gold production.
The Company is pleased to confirm also that no mine workings or
voids were intersected during the drilling, which is testimony to
the geological model developed by the Alba technical team, combined
with the accurate survey points which were collected at various
locations prior to the commencement of drilling, including at the
adit entrance and points within the Llechfraith adit. This allowed
the mine workings to be accurately located, assisting in drill-hole
planning and orientation.
Figure 2 (in the PDF version of this announcement) shows the
final drill-hole traces and the location of the shear zone-hosted
quartz veining (shown as yellow segments on the drill trace). The
red plane shown in Figure 2 (in the PDF version of this
announcement) is the shear zone-hosted quartz veining as modelled
from the exploited mine workings and the new drill-hole data.
Figure 2 (in the PDF version of this announcement) also shows the
intersected quartz veining which has an apparent width of up to 5
metres and a true thickness of approximately 1.5 metres. Multiple
quartz veins were intersected outside of the primary target zone
which will also be sampled and assayed for potential
mineralisation.
Figure 3 (in the PDF version of this announcement) shows the
drill core from GMOW003. Dark grey Clogau Shale can be seen in the
upper core tray followed by the shear zone contact and target
quartz vein. Figure 4 (in the PDF version of this announcement)
shows the sulphide assemblage observed within the quartz veining
with Chalcopyrite, Pyrrhotite, Pyrite and Galena being
observed.
The drill-core is currently being prepared for assaying and
mineralogical characterisation.
Llechfraith Mine Area: Background
The maiden drilling programme at Clogau targeted extensions to
the Llechfraith mine area. The Llechfraith mine area is reported to
have first been opened in 1862, ceasing production in 1865. Most
recently, limited mining was undertaken between 1983 and 1987 with
visible gold being reported adjacent to westerly-dipping greenstone
intrusives along the lowest No. 4 Level, which is approximately 30
metres below the main Llechfraith adit entrance.
Note that the Llechfraith mine area is separate from the Clogau
and the St David's mine areas which are accessed via the
Llechfraith and Tyn Y Cornel adits, albeit that all mine areas are
connected via the Llechfraith Level (or adit). See Figure 1 (in the
PDF version of this announcement). The Llechfraith Level (or adit)
is now open following the recent rehabilitation works carried out
earlier this year by Alba.
A total of three gold shoots were recorded at the Llechfraith
mine area in the 1980s (as shown in the long section in Figure 5 in
the PDF version of this announcement). The No. 1 Shoot, which was
mined between 1984 and 1987, is reported to have been traceable
from surface to 40 metres down-dip to the No. 4 Level, being the
deepest level of the Llechfraith mine area. Visible gold, by its
nature being high-grade, was reported within the No. 4 Level.
Mineralisation controls in this area are not certain but No. 1
Shoot is reported to plunge to the south-east at a dip of 65 to
70deg with a pitch to the south-west. No.1 Shoot is thought to
relate to a split in the lode with gold mineralisation reported to
lie within the hinge of the split.
Future Drilling and Development Plans
The completed drilling programme has given the Company great
confidence in the geological model that has been developed for the
Llechfraith mine area. Depending on the results obtained from the
Company's assaying of the drill core, future work at the
Llechfraith mine area could include dewatering the No. 3 and No. 4
level (see Figure 5 in the PDF version of this announcement) to
enable access to be gained there, so that bulk sampling could then
be carried out of the areas of reported visible gold.
Further drilling from Alba's freehold land at Llechfraith is
largely constrained by the limitations of the site, however it is
possible that further drilling of the Llechfraith mine area target
could be conducted from No. 4 level, drilling directly down into
the favourable geology which has now been shown to exist for at
least 25 metres below No. 4 level.
Otherwise, the Company plans to drill in 2020 both from surface
(along strike from Llechfraith, down below the underground workings
at Clogau-St David's) and from underground within the Mine itself,
as set out in the Company's current Corporate Presentation (which
is available at www.albamineralresources.com).
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 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.
Competent Person Declaration
The information in this release that relates to Exploration
Results has been reviewed by Mr Howard Baker, Technical Director of
Alba Mineral Resources Plc. Mr Baker is a Chartered Professional
Fellow of the Australasian Institute of Mining and Metallurgy
(Membership Number 224239) and a Competent Person as defined by the
rules of International Reporting Codes that are aligned with
CRIRSCO.
Howard Baker 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. Howard Baker consents to the inclusion in the announcement
of the matters based on his information in the form and context in
which they appear.
Glossary
Anticline: A fold, closing in any direction, in which the older
rocks occupy the core.
Chalcopyrite: A brass-yellow mineral with a chemical composition
of CuFeS(2) . It occurs in most sulphide mineral deposits
throughout the world and has been the most important ore of copper
for thousands of years.
Clogau Shale: A dark-grey or black-banded carbonaceous mudstone
and silty mudstone.
Geochemical: Relates to the chemical composition of the Earth
and its rocks and minerals.
Footwall: The wall lying beneath a horizontal or inclined fault
or orebody.
Galena: A lead sulphide mineral with a chemical composition of
PbS. It is the world's primary ore of lead.
Geophysics: The application of the methods and techniques of
physics to the study of the earth and the processes affecting
it.
Intrusives: An igneous rock formed from magma forced into older
rocks at depth within the Earth's crust, which then typically
slowly solidifies below the Earth's surface.
Lithological Units: The lithology of a rock unit is a
description of its physical characteristics visible at outcrop, in
hand or core samples or with low magnification microscopy, such as
colour, texture, grain size, and mineral composition.
Lithological Contacts: The contact between two lithologies of
differing characteristics.
Microdiorite: A medium grained igneous rock of volcanic
origin.
Mineralisation: Economically important metals that can occur at
a variety of scales from small disseminations through to large
zones or ore bodies.
Pathfinder Elements: In geochemical exploration, an element that
occurs in close association with an element or commodity being
sought, but one can be more easily identified because it forms a
broader halo or can be detected more readily by analytical
methods.
Pyrite: A brass-yellow mineral with a bright metallic lustre. It
has a chemical composition of iron sulphide (FeS(2) ) and is the
most common sulphide mineral. It forms at high and low temperatures
and occurs, usually in small quantities, in igneous, metamorphic,
and sedimentary rocks worldwide.
Quartz Veins: A distinct sheet-like body dominantly composed of
quartz hosted within a rock formation.
Pitch: The orientation of a line, measured as an angle from the
horizontal, in a specified non-vertical plane.
Plunge: The angle between a linear and a vertical plane.
Pyrrhotite: A bronze-yellow to copper-red iron sulphide of
variable iron content.
Shear Zone: A zone of ductile deformation between two undeformed
blocks that have suffered relative shear displacement.
Strike Length: The direction and length of a geological feature
(for example, a vein or rock formation) measured on a horizontal
surface.
Structural Architecture: The three-dimensional distribution of
bodies of rock, as controlled by geological structures.
Weathering Profile: A vertical assemblage of weathering zones
(subsurface zones of alteration differing physically, chemically or
mineralogically from adjacent zones) from the surface soil to the
unaltered bedrock.
For further information, please contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3907 4297
Cairn Financial Advisers LLP (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
First Equity Limited (Broker)
Jason Robertson +44 20 7374 2212
Yellow Jersey PR (Financial PR/ IR)
Sarah Hollins/Harriet Jackson/Henry
Wilkinson
alba@yellowjerseypr.com +44 20 3004 9512
Alba's Project and Investment Portfolio
Project (commodity) Location Ownership
Mining Projects
Amitsoq (graphite) Greenland 90%
----------- ----------
Clogau (gold) Wales 90%
----------- ----------
Inglefield (copper, cobalt,
gold) Greenland 100%
----------- ----------
Limerick (zinc-lead) Ireland 100%
----------- ----------
Melville Bay (iron ore) Greenland 51%
----------- ----------
TBS (ilmenite) Greenland 100%
----------- ----------
Oil & Gas Investments
Brockham (oil) England 5%
----------- ----------
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.
END
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