TIDMALBA
RNS Number : 7094C
Alba Mineral Resources PLC
21 October 2020
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Alba Mineral Resources plc
("Alba" or the "Company")
Update on Underground Programme at
Clogau-St David's Gold Mine
Alba Mineral Resources plc (AIM: ALBA) is pleased to provide the
following update on the Company's underground exploration programme
at the Clogau-St David's Gold Mine (the "Mine").
Key Points
- Company's underground campaign at Clogau not expected to be
affected by Welsh Government coronavirus restrictions announced for
the period 23 October to 9 November 2020
- Underground drilling in October progressing well, with L002
drilled to 121.5m and L003 currently being prepared for
drilling
- Bulk sampling progressing well, with Jack Williams stope floor
stripped back and stockpiled as a large, 8 tonne bulk sample, from
material built up during previous periods of mining
- 280m length of pipeline running through Llechfraith level has
been rehabilitated and tested and will now be used to provide
pressurised air to drill next drill hole at previously inaccessible
target
George Frangeskides, Alba Executive Chairman, commented:
"We have made excellent progress in our underground campaign
following its resumption earlier this month, with a 121 metre drill
hole completed and a large bulk sample collected at the Jack
Williams stope, taken from material left behind during previous
periods of mining. The programme is scheduled to continue until the
end of October, following which we will move into the formal
assaying of all the drilled and sampled material, the start of the
first phase of our regional surface trenching programme as well as
preparations for the surface drilling campaign which we also hope
to kick off next month."
Details
The Company notes the announcement by the First Minister of
Wales on 19 October 2020 regarding the introduction of a two-week
"firebreak" which is to be introduced across Wales from 6pm on
Friday 23 October 2020 until Monday 9 November 2020 to help combat
the coronavirus pandemic. On current advice, these measures do not
affect Alba's underground drilling and bulk sampling programme
which will therefore continue until the end of October 2020. Should
this advice change, the Company will issue a further update.
Significant progress has been made in the underground programme
since its resumption earlier this month, as follows:
Underground Drilling
- Drill hole L002 has been drilled to 121.5m, heading north from
the current workings on the Llechfraith Level.
- The next (and expected to be the final) drill hole in this
programme will be L003, located at the Grandfathers stope on the
Llechfraith level. See Figure 1 in the PDF version of this
announcement for the completed and next planned drill holes.
Bulk Sampling
- The Jack Williams stope floor has been stripped back and
stockpiled as a large bulk sample (estimated to weigh about eight
tonnes). This material would have built up on the stope floor
during previous periods of mining.
- Holes will be drilled into the Jack Williams stope by airleg
drill to facilitate the in-situ bulk sampling of the lode (or vein)
system, expected to be the final bulk samples collected during the
current programme.
See Figure 2 (in the PDF version of this announcement) for the
location of the remaining bulk samples to be collected (JWBS002
being located at the end face of the stope and JWBS003 on the roof
of the drive). See Figure 3 (in the PDF version of this
announcement) for the location of the completed and next planned
bulk samples.
Rehabilitation of Llechfraith Pipeline
- A 280m section of pipeline which provided air to the Mine
during previous periods of production has now been rehabilitated
and tested. Accordingly, this pipeline will now be used to provide
pressurised air to enable the drilling of the next drill hole,
which would otherwise have been inaccessible to the Company's
drilling team. The Company will look to complete the rehabilitation
of the remaining pipework (circa 300m) next year.
Next Steps
Samples of the drill core from the underground drilling
programme will only be sent to an accredited laboratory for
assaying once the entire drilling programme has been completed,
following which, sections of the core will be sampled and prepared
for dispatch.
In respect of the bulk samples, the first bulk sample is being
prepared for processing at a third-party processing facility in
Cornwall. The remaining bulk samples collected in the programme
will either be processed at the same facility or will be processed
by the Company once the Company's bespoke pilot gold processing
plant has been fully built (and subject to timely receipt of all
necessary approvals). The Company's previous advice - that, subject
to timely receipt of regulatory approvals and no delays in
shipment, the Company expects the pilot plant to be fully
operational in Q4 2020 - still holds.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 .
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 3907 4297
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%
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Inglefield (copper, cobalt,
gold) Greenland 100%
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Limerick (zinc-lead) Ireland 100%
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Melville Bay (iron ore) Greenland 51%
----------- ----------
TBS (ilmenite) Greenland 100%
----------- ----------
Oil & Gas Investments
Brockham (oil) England 5%
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Horse Hill (oil) England 11.765%
----------- ----------
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