TIDMALBA
RNS Number : 7843Q
Alba Mineral Resources PLC
02 March 2021
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Alba Mineral Resources plc
("Alba" or the "Company")
Clogau-St David's Gold Mine Update
Llechfraith Gold Target Strike Extent Projected at 58 Metres
Alba Mineral Resources plc (AIM: ALBA) is pleased to provide an
update on the Company's work activities at the Clogau-St David's
Gold Mine (the "Mine") where the latest results of the ongoing
Phase 1 surface drilling programme have now enabled the Company to
project the newly identified vein system at the Llechfraith mine
area as having a strike extent of 58 metres.
Key Points
-- Surface Drilling Update
o Since last update (2 February 2021), holes LL007 - LL009 have
been drilled to bring the Phase 1 running total up to 981.6 m over
nine holes
o LL008 intercepted the target structure, including one
intercept 1.49 metres thick (one of the thickest vein intercepts in
the entire programme)
o LL009 intersected the projected pay shoot at the deepest and westernmost point so far
o Alba now projects the newly identified vein system as having a
strike extent of up to 58 metres, as well as extending 66 metres
below the deepest previously worked zone at the Llechfraith mine
area
o While it had originally been planned to drill only three holes
from this collar location, the success of the drilling has resulted
in the Company drilling a total of ten holes from this same
location, allowing the significant dimensions of this lode system
to be more clearly defined
o Final hole LL010 in this Phase will test the depth extent of
the structure, aiming to intercept the lode at around 100 m below
the existing workings
-- Alba is in the process of drawing up plans to directly access
this newly identified lode structure at depth in order to assess
and collect ore for future processing and mining
Mark Austin, Alba's Chief Operating Officer, commented:
"All of our drilling to date has been aimed at providing us with
critical geological and structural information on the lode systems
previously mined at Clogau, so that we can assess if those same
structures continue beyond the limits of the previously mined
areas. To this end, the drilling at Llechfraith has been more
successful than we could reasonably have anticipated: the physical
attributes of the veins that we have intersected in our drill holes
reflect the characteristics of the veins that were successfully
mined in the past."
"While we should await the results of the drill core assays
before reaching any preliminary conclusions, the significant
dimensions of the Llechfraith Lode, as defined by the drilling so
far completed, indicate that this could well be a significant
contributor to future production at Clogau-St David's."
Details
Due to the ongoing success of the Phase 1 surface drilling
campaign, the programme has now been extended to its tenth drill
hole. To date, nine holes (LL001-LL009) have been completed for
981.6 metres. The tenth (and expected final hole), LL010, has now
commenced and is expected to be approximately 130 m in length (see
Table 1).
As announced on 5 October 2020, while the Phase 1 programme
initially envisaged three drill holes in total being drilled from
the first drill collar, the continued success of the drilling in
intersecting the Llechfraith lode structure (the "Llechfraith
Lode") has led the Company to greatly expand its planned drilling
from the same collar to a total of ten holes, in order to more
accurately define the total depth and width extent of the lode
structure.
This Phase 1 surface drilling programme is targeting
mineralisation below the existing mine workings at the Llechfraith
mine area, thus testing the continuation of mineralisation at depth
(see Figures 1 and 2 in the PDF version of this RNS). By stepping
out the drilling so that the drill collar was set further away from
the mine area, the current phase of drilling has been designed to
intersect the quartz vein at a higher, and therefore more
favourable, angle to dip. This has so far proved successful, given
the significant widths of quartz vein which have been intersected
(see Figure 1 in the PDF version of this RNS).
Although LL007 was stopped after 17.5 m due to deviation from
the planned azimuth, LL008 was successfully drilled through to
intersect the target lode structure at 103.99 m, with the lode
structure being 1.49 m thick here, one of the thickest vein
intercepts drilled in the current programme (see Figure 2 in the
PDF version of this RNS). The hole showed a shift to a more
sulphide-rich vein mineralogy from previous holes in most of its
intercepts.
Hole LL009 also showed an increased sulphide abundance in the
lode intercepts at 85.8 m (1 m thick), 104.65 m (0.15 m thick) and
106.8 m (0.6 m thick) (see Figure 3 in the PDF version of this
RNS). Sample assays of these vein intercepts will help determine if
this mineralogical change has implications for gold mineralisation.
While the target structure is relatively thin, overall, in LL009,
the structure remains unconstrained to the west of this intercept,
presenting targets for future drilling phases. Preliminary logging
suggests that LL009 encounters the target structure at 106.8 m,
some 58.6 m away from the vein intercept in LL006 which represents
the likely eastern margin of the pay-shoot. For the first time,
then, the Company is able to project the strike length of the
projected Llechfraith Lode as being 58 metres wide by 66 metres
deep.
The extended Phase 1 surface drilling programme has enabled the
Company to more clearly define the target lode structure and helped
to identify the precise location of the additional quartz veins in
the immediate vicinity of the Llechfraith workings.
The Company is in discussion with contractors to assess the
opening up of the Llechfraith Lode, both to allow for preliminary
bulk sampling and testwork via the Company's existing pilot
processing plant but also to allow for possible commercial-scale
mining in the future. Opening up the lode will also provide fresh
exposure for the Company's technical team to further assess the
geology of the pay shoot.
Table 1: Summary of completed drill holes including notable
structural intercepts.
Hole Azimuth Dip Length Structural Intercepts
(m)
Structure Depth Thickness
(m)
-------- ----- ------- ----------------
GMOW_LL001 351 43 183.5 Quartz Vein 56.77 0.3
-------- ----- ------- ---------------- ------- ----------
Quartz Vein 60.23 0.61
-------- ----- ------- ---------------- ------- ----------
Quartz Vein 63.29 0.33
---------------- ------- ----------
Quartz Vein 63.87 0.24
---------------- ------- ----------
Llechfraith
Lode System 83.43 2.38
---------------- ------- ----------
Llechfraith
Lode System 95.22 2.3
-------- ----- ------- ---------------- ------- ----------
GMOW_LL002 353 44 103.3 Quartz Vein 48.17 0.25
-------- ----- ------- ---------------- ------- ----------
Quartz Vein 56.5 0.26
-------- ----- ------- ---------------- ------- ----------
Quartz Vein 59.1 0.4
---------------- ------- ----------
Llechfraith
Lode System 96.53 1.85
-------- ----- ------- ---------------- ------- ----------
GMOW_LL003 344 44 112.8 Quartz Vein 64 0.42
-------- ----- ------- ---------------- ------- ----------
Llechfraith
Lode System 84.92 1.22
-------- ----- ------- ---------------- ------- ----------
Llechfraith
Lode System 88.12 0.63
---------------- ------- ----------
Llechfraith
Lode System 89.09 0.56
---------------- ------- ----------
Llechfraith
Lode System 91.64 0.33
---------------- ------- ----------
Llechfraith
Lode System 96.22 2.23
---------------- ------- ----------
Llechfraith
Lode System 101.8 0.28
-------- ----- ------- ---------------- ------- ----------
GMOW_LL004 327 43 62.4 Quartz Vein 10.11 0.44
-------- ----- ------- ---------------- ------- ----------
Quartz Vein 61.92 0.38
-------- ----- ------- ---------------- ------- ----------
GMOW_LL005 340 52.2 125.6 Quartz Vein 10.53 0.23
-------- ----- ------- ---------------- ------- ----------
Quartz Vein 21.8 0.21
-------- ----- ------- ---------------- ------- ----------
Quartz Vein 64.25 0.85
---------------- ------- ----------
Llechfraith
Lode System 90.01 0.69
---------------- ------- ----------
Llechfraith
Lode System 101.83 2.5
---------------- ------- ----------
Llechfraith
Lode System 107.31 0.32
-------- ----- ------- ---------------- ------- ----------
GMOW_LL006 007 43 136.5 Quartz Vein 8.7 0.6
-------- ----- ------- ---------------- ------- ----------
Quartz Vein 46.4 0.5
-------- ----- ------- ---------------- ------- ----------
Quartz Vein 75.2 0.3
---------------- ------- ----------
Llechfraith
Lode Stringer
Zone 101.03 0.26
---------------- ------- ----------
Llechfraith
Lode Stringer
Zone 101.82 0.32
-------- ----- ------- ---------------- ------- ----------
Hole stopped early due to
GMOW_LL007 335 56 17.5 deviation from planned azimuth
-------- ----- ------- -------------------------------------
Quartz Stringer
GMOW_LL008 327 55 121.1 Network 55.22 0.51
-------- ----- ------- ---------------- ------- ----------
Quartz Stringer
Network 79.75 0.55
-------- ----- ------- ---------------- ------- ----------
Llechfraith
Lode System 91.78 0.48
---------------- ------- ----------
Llechfraith
Lode System 103.99 1.49
---------------- ------- ----------
Llechfraith
Lode System 109.38 0.43
-------- ----- ------- ---------------- ------- ----------
GMOW_LL009 320 -56 118.9 Quartz Vein 59.4 0.52
-------- ----- ------- ---------------- ------- ----------
Llechfraith
Lode System 85.8 1.05
-------- ----- ------- ---------------- ------- ----------
Llechfraith
Lode System 106.8 0.63
-------- ----- ------- ---------------- ------- ----------
Table 1 refers to certain of the quartz veins as forming part of
the "Llechfraith Lode System", to indicate veins which have been
intersected in the same zone as one another within the Llechfraith
mine area.
LL010 is expected to be the final hole in the Phase 1 programme,
and the hole is projected to intercept the target structure an
additional 30 m below the deepest target intercept in LL009. This
could have significant implications for the scale of mineralisation
at Llechfraith.
Once this Phase has been completed, as announced on 2 December
2020 the next phase of surface drilling (Phase 2) will consist of
an 8-10 hole programme for around 2,000 metres. This phase of
drilling will target the 550 m Main Lode extension indicated by the
recently completed underground drilling and will also seek to
intersect the projected depth extensions of certain historically
worked lodes, namely Grandfathers Lode and the 7-10 Lode.
The Company hopes to start Phase 2 as soon as Phase 1 completes,
subject to timely receipt of regulatory approvals which are in
progress.
All activities and timelines in this announcement are subject to
the timely receipt of regulatory and other third-party consents and
to the timely availability of contractors, plant and equipment.
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
Azimuth: the compass direction of a drill hole, usually
specified in degrees with respect to the geographic or magnetic
north pole.
Lode: a deposit of metalliferous ore that fills a fissure.
Pay shoot: a n area within a quartz vein where gold has been
concentrated into a high-grade zone.
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%
----------- ----------
Dolgellau Gold Exploration
(gold) Wales 90-100%
----------- ----------
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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