TIDMALBA
RNS Number : 9984K
Alba Mineral Resources PLC
08 January 2021
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Alba Mineral Resources plc
("Alba" or the "Company")
Clogau-St David's Gold Mine Update
Alba Mineral Resources plc (AIM: ALBA) is pleased to provide an
update on the Company's Clogau-St David's Gold Mine ("Mine").
Key Points
-- Surface drilling has recommenced
-- Processing of small bulk sample at a third-party processing
facility has validated the Company's process flowsheet and
confirmed the production of a 20.7 grams per tonne gold
concentrate
-- The Company's dedicated pilot processing plant is expected to
be operational in the week commencing 11 January 2021 and to
continue throughout Q1 2021
George Frangeskides, Alba's Executive Chairman, commented : "We
are very pleased to report that the independent bench-scale testing
has validated our process flow-sheet for Clogau ore, as well as
confirming the production of a gold concentrate with good
recoveries of gold to concentrate. This gives us great
encouragement as we near the commencement of operation of our own
dedicated pilot processing plant."
"Surface drilling has restarted after the Christmas break. While
drill hole LL004 encountered difficult ground, this is part and
parcel of exploration drilling. As announced on 21 December 2020,
we now move onto the planned deeper holes, LL005 and LL006, to test
the depth extent of the new vein system which we believe we have
identified in holes LL001-003, each of which intersected
significant quartz veins some 30 metres below the deepest
previously worked zone at the Llechfraith mine area."
Surface Drilling
The Company's Phase 1 Surface Drilling campaign at the Mine has
recommenced. Drill hole LL004 was drilled to 62.4 metres, but due
to difficult ground conditions encountered, the end of the hole was
called before the hole had intersected the expected quartz zone.
The Company's drilling contractors are currently preparing the
drill collar for LL005. The trajectory of LL005 will be steeper
(-55deg) to obtain a deeper lode intersection around 20 metres
below the intersections obtained in LL001-003.
Pilot Processing Plant
Final minor adjustments and tests are being carried out in
respect of the Company's pilot gold processing plant, and the
Company accordingly expects to be able to commence processing the
36 tonne bulk sample collected in September-October 2020 in the
week commencing 11 January 2021.
A small amount of bulk sample material was sent by the Company
to an independent laboratory for bench-scale testing, in order to
validate the process flowsheet which has been designed by the
Company for ore having the particular characteristics of Clogau
ore. The Company is pleased to report that the bench-scale testing
was successful. In particular:
-- good gold recoveries were achieved, with 78.06% of the total
gold content being captured in the Gravity concentrate plus
Concentrate 1 of the Gravity tailings fractions; and
-- a gold concentrate was produced, grading 20.7 grams per tonne.
The Company is pleased to confirm, therefore, that the
independent bench-scale testwork undertaken has confirmed that a
gold concentrate can be produced from the bulk sample with good
recoveries of gold to concentrate.
Processing of the bulk sample at the Company's pilot processing
plant is expected to be ongoing throughout much of Q1 2021. The
Company does not expect to be in a position to release results
until all processing has been completed and the results have been
verified.
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
Lode: a deposit of metalliferous ore that fills a fissure.
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%
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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%
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Melville Bay (iron ore) Greenland 51%
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TBS (ilmenite) Greenland 100%
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Oil & Gas Investments
Brockham (oil) England 5%
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Horse Hill (oil) England 11.765%
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