Alba Mineral Resources PLC Operational Update (2327U)
March 27 2023 - 2:00AM
UK Regulatory
TIDMALBA
RNS Number : 2327U
Alba Mineral Resources PLC
27 March 2023
Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector:
Mining
27 March 2023
Alba Mineral Resources Plc
("Alba" or the "Company")
Operational Update
Alba Mineral Resources Plc (AIM: ALBA) provides the following
operational update in relation to its 100% owned Clogau-St David's
Gold Project ("Clogau" or the "Project") and Dolgellau Gold
Exploration Project ("DGEP") in north Wales.
Permitting of Lower Llechfraith Activities
In relation to the Company's applications for water transfer and
discharge permits and a European Protected Species licence ("EPSL")
in respect of the proposed dewatering exercise and subsequent
safety and exploratory works at the Company's primary target within
the Lower Llechfraith workings at Clogau, the Company has recently
received comments from Natural Resources Wales ("NRW") covering a
relatively narrow set of points relating to the EPSL including
noise mitigation measures, biosecurity and the duration of the
proposed exclusion measures for bats. The Company is in the process
of compiling responses to these EPSL queries, including generating
some further limited baseline data, with the aim of reverting to
NRW with full responses within the next two weeks or so. Once it
has confirmed that it has no outstanding queries, the Company is
hopeful that NRW will proceed to a decision soon thereafter on the
grant of the permits so that the Company's dewatering activities
may proceed.
Until such time as the permitting of these activities is
secured, the Company advises that other significant ground-based
activities in or adjacent to the Clogau-St David's Mine which
involve permitting will likely be deferred, notably including the
permitting of the waste tip for commercial exploitation. However,
as soon as the permitting of these key activities has been secured,
including the completion of the Habitat Regulations Assessment
("HRA") which is at the same time being carried out by NRW in
relation to the whole Project, the Company intends to push forward
with its permitting and technical activities in relation to the
waste tip. Generally, the Company is hopeful that the HRA will
provide the framework for a more streamlined permitting process
moving forward.
Airborne Geophysical Survey
Regarding the Company's plans to conduct a high-resolution
aeromagnetic geophysical survey over certain of its high-grade
regional gold targets within the DGEP, the Company understands from
its contractor, UAVE Limited ("UAVE"), that the latest estimated
timetable from the Civil Aviation Authority ("CAA") to approve the
proposed Airspace Change is by the end of April. Thereafter, UAVE
will submit a variation to the CAA Operational Authorisation to
allow it to operate UAV flights within the newly created Temporary
Danger Area, which is expected to take around 30 days. This would
provide a window for the survey operations over the DGEP between
June and August.
Further material updates will be provided as and when they
become available.
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)
Neil Baldwin / Andrew Emmott +44 20 3368 3555
OvalX (Broker)
Thomas Smith +44 20 7392 1494
St Brides Partners (Financial PR)
Isabel de Salis / Catherine Leftley alba@stbridespartners.co.uk
Alba's Projects and Investments
Mining Projects Operated Location Ownership
by Alba
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 44.7%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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