TIDMALBA
RNS Number : 3651Z
Alba Mineral Resources PLC
21 May 2021
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Alba Mineral Resources plc
("Alba" or the "Company")
Clogau-St David's Gold Mine Update
Phase 2 Underground Drilling Commences
Alba Mineral Resources plc (AIM: ALBA) is pleased to announce
that the second phase of the Company's underground drilling
programme at the Clogau-St David's Gold Mine ("Clogau" or the
"Mine") has commenced.
Key Points
-- The start of Phase 2 underground diamond drilling at Clogau-St David's.
-- This follows the successful 559m Phase 1 underground drilling
programme completed in October 2020.
-- Phase 1 intersected what Alba believes to be the westerly,
550-metre extension of the Clogau Main Lode, source of most
historic production at Clogau-St David's Gold Mine.
-- The main focus of Phase 2 is to continue with the exploration
and delineation of the Main Lode to the north.
-- Phase 2 surface drilling is also progressing well, with two holes completed to date.
Alba's Executive Chairman, George Frangeskides, commented:
"We are delighted to be drilling underground again, following
our successful Phase 1 underground drilling campaign which
concluded last October. Meanwhile, Phase 2 of our surface drilling
continues to progress very well, with the first two completed holes
intersecting the projected lodes as predicted by our internal
geological model. The continuity of the lodes at depth is very
encouraging news indeed."
"This is the first time we have drilled simultaneously both from
the surface and underground at Clogau-St David's. That is a measure
of our determination to maximise the progress we make during this
spring/summer field season towards proving up zones for future gold
production."
Phase 2 Underground Drilling
Alba is pleased to announce the start of Phase 2 underground
diamond drilling at the Clogau-St David's Gold Mine in north Wales.
This second phase follows the successful 559m drilling programme
which was completed at the end of October 2020. In that programme,
drill hole L002 intersected a quartz lode which returned a
significant gold value of 1.79 g/t over a width of 0.25 metres.
Alba has interpreted this intersection as belonging to the Jack
Williams Lode, thus representing a projected 550-metre extension to
the Main Lode.
This Phase 2 programme is scheduled to comprise 12 holes drilled
from 3 platforms for a total of 1460m. The main focus of the
programme is to continue with the exploration and delineation of
the Main Lode to the north - see Figure 1 in the PDF version of
this RNS. However, three holes will also be drilled to the south to
test for a southern lode structure the surface expression of which
is marked by soil sample anomalies. Figure 2 (in the PDF version of
this RNS) is a 3D rendition of the drill programme with the
expected intercepts marked in yellow. Details of the drillholes are
set out in Table 1.
Alba will undertake the programme employing its Kempe U3-9BQ
Pneumatic drill machine.
Table 1 : Details of azimuth/dip and planned length/depth for
each of the 12 planned drillholes. Depending on results and
progress, these details may be adjusted in the field.
Hole Drill Pad Azimuth Dip Depth
GMOW_UG001 1 130 5 180
---------- --------- ---- ------
GMOW_UG002 1 350 -10 100
---------- --------- ---- ------
GMOW_UG003 1 20 10 140
---------- --------- ---- ------
GMOW_UG004 1 0 5 120
---------- --------- ---- ------
GMOW_UG005 1 10 -10 100
---------- --------- ---- ------
GMOW_UG006 2 350 10 100
---------- --------- ---- ------
GMOW_UG007 2 310 10 120
---------- --------- ---- ------
GMOW_UG008 2 330 -10 100
---------- --------- ---- ------
GMOW_UG009 2 160 5 140
---------- --------- ---- ------
GMOW_UG010 3 0 -5 100
---------- --------- ---- ------
GMOW_UG011 3 0 -25 100
---------- --------- ---- ------
GMOW_UG012 3 130 -10 160
---------- --------- ---- ------
Total Metres 1460
---------- --------------- ------
Update on Phase 2 Surface Drilling
The commencement of the second phase of the surface drilling
programme at the Clogau-St David's Gold Mine commenced on 12 April
2021 (see the Company's RNS of the same date) and will consist of
an 8-10 hole programme for around 2,000 metres in total. This phase
of drilling is targeting the 550m Main Lode extension indicated by
the underground drilling last year.
Initial intersections from the first two completed holes have
been positive. Both holes (JW 001, final depth 240.3m, and JW 002,
final depth 204.3m) intersected the projected lodes as predicted.
JW001 intersected the Main Lode extension at 34m and the
Grandfathers Lode extension at 190m. The Grandfathers intersection
indicates that this lode extends for at least 60m downdip. See
Figures 4 and 5 in the PDF version of this RNS.
JW002 intersected the Main Lode extension at 95m and the 710
Lode extension at 190m at about 40m below the Llechfraith Level.
The continuity of the lodes at depth is very encouraging from the
perspective of increasing possible resources in the future. Both
lodes indicate a plunge toward the SW which is identical to the
Llechfraith Lode drilled in Phase 1. The third Phase 2 hole, JW003,
has now started drilling.
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.
Glossary
7-10 Lode: The 7-10 Lode is a parallel vein structure to the
Main Lode, lying some 30-40m to the south of the Main Lode. The
whole of the Llechfraith Level is developed on the 7-10 Lode.
Borehole or
drillhole: A hole drilled into bedrock using a diamond-coated bit to return core samples.
Grandfathers: Grandfathers or Grandfathers Lode is a pay-shoot
within the 7-10 Lode.
Jack Williams: The Jack Williams Stope is the most westerly
mined portion of the Main Lode on the Ty'n-y-Cornel Level.
Intercept: A section of core in which a target lithology,
structure or significant assay result has been identified.
Main Lode: The main quartz vein structure along which the
majority of historic mining took place at Clogau-St David's. The
Main Lode was mined from the Jack Williams Stope for approximately
300m eastwards to the Bryntirion Fault, on the other side of which
it was mined over a strike of at least 150m at the St David's
Mine.
Mineralisation: Any single mineral or combination of minerals
occurring in a mass, or deposit, of economic interest. The term is
intended to cover all forms in which mineralisation might occur,
whether by class of deposit, mode of occurrence, genesis or
composition.
Quartz vein: A sheet-like body consisting predominantly of the
mineral quartz, which is known to host gold mineralisation in the
Dolgellau Gold Belt.
Stope: A mined-out area along a lode structure from which ore has been extracted.
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 3950 0725
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%
----------- ----------
Gwynfynydd (gold) Wales 100%
----------- ----------
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%
----------- ----------
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