TIDMALBA
RNS Number : 3593G
Alba Mineral Resources PLC
24 November 2020
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Alba Mineral Resources plc
("Alba" or the "Company")
Commencement of Surface Trenching
Dolgellau Gold Exploration Project, North Wales
Alba Mineral Resources plc (AIM: ALBA) is pleased to report that
surface trenching activities are set to commence this week over the
first of the Company's 10 regional gold targets over the Dolgellau
Gold Field.
Key Points
-- The conditions to the planning permission for this first
phase of surface trenching have been satisfied and the key
contractors have been engaged
-- The surface trenching over this the first of 10 gold targets
over the Dolgellau Gold Field is now scheduled to commence this
week
Alba's Executive Chairman, George Frangeskides, commented:
"As we continue our exploration and development activities at
Clogau on many different fronts, we will shortly commence the first
phase of our regional surface trenching programme over the
Dolgellau Gold Field, targeting the first of 10 separate new gold
targets over the Gold Field which have been identified by Alba in
the extensive regional soil sampling programme we carried out last
year."
"This work is particularly exciting as it involves the
excavation and sampling of virgin areas of bedrock which have never
previously been subjected to examination for their gold
content."
Details
As regards the Company's regional exploration of the Dolgellau
Gold Field ("DGF"), as previously reported Alba's 2019 regional
geochemical soil sampling programme resulted in 10 significant
anomalies being identified away from all known major mines and gold
mineralisation being confirmed over about a six-mile section of the
DGF.
As reported on 7 September 2020, planning permission having been
granted for this trenching programme, the Company has been working
to satisfy the conditions to planning. These conditions having now
been satisfied and the availability of all contractors confirmed,
the Company will be proceeding with the start of the programme this
week.
As previously announced, up to eight trenches have been planned
in this first phase, each varying in length from 40-90m for a total
of 575m, with each trench being 1m wide and up to 2m deep. Once
exposed, the quartz veining and other structures will be sampled,
and those samples sent to a laboratory for assaying. See Figures 1,
2 and 3 in the PDF version of this RNS for the location of the
trenches and the inferred ENE-WSW trend of the gold anomalism
indicated by the results obtained in the 2019 regional soil
sampling programme.
Dependent on the results achieved in this first phase of
trenching, further applications will be submitted to the local
planning authority to approve additional phases of trenching over
the other gold targets which Alba has identified in the DGF.
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.
Glossary
Geochemical: Relates to the chemical composition of the Earth
and its rocks and minerals.
Mineralisation: Economically important metals that can occur at
a variety of scales from small disseminations through to large
zones or ore bodies.
Pathfinder Elements: Pathfinder elements or pathfinder minerals
are used in mineral exploration to narrow down the search area for
many different types of ore deposits. When found within sediments
or rocks, these minerals indicate the possible presence and
location of specific types of mineralisation and are commonly used
in the search for gold.
Quartz Veins: A distinct sheet-like body dominantly composed of
quartz hosted within a rock formation.
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%
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Gwynfynydd (gold) Wales 100%
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Inglefield (copper, cobalt,
gold) Greenland 100%
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Limerick (zinc-lead) Ireland 100%
----------- ----------
Melville Bay (iron ore) Greenland 51%
----------- ----------
TBS (ilmenite) Greenland 100%
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Oil & Gas Investments
Brockham (oil) England 5%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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END
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