TIDMALBA
RNS Number : 4169W
Alba Mineral Resources PLC
23 April 2021
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Alba Mineral Resources plc
("Alba" or the "Company")
Clogau-St David's Gold Mine Update
Multiple Mineralised Gold Zones Confirmed in Phase 1 Drilling
Results from Llechfraith Lode
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"), comprising assay results from the Company's
Phase 1 drilling programme at the Llechfraith mine area.
Key Points
-- Gold mineralisation has been proven in the veins identified
from the drilling, with individual values up to 4.25 g/t.
-- Gold mineralisation confirmed across several individual zones up to one metre thick.
-- The intersection of values strongly reinforces Alba's view
that the newly modelled zone, which Alba is calling the Llechfraith
Lode, is a key target for future development and production at
Clogau-St David's.
-- Two other identified vein systems intersected in the drilling
- and now confirmed as hosting gold mineralisation - are also
targets for further exploration.
-- Results add weight to the Company's objective to dewater the
Llechfraith Shaft as soon as possible to allow direct access to the
on-reef development.
Mark Austin, Alba's Chief Operating Officer, commented:
"We have always stressed that the primary objective of our
drilling programmes is to prove structure and to identify existing
lode extensions and new lodes. The drilling at Llechfraith has
proved that the main lode in fact comprises two discrete lodes,
separated by about 10m. In addition, the drilling has also
identified two other vein systems further to the south. The best
developed of these new vein systems we are calling the "Canol Vein
System" and the uppermost the "Sill Vein System"'.
"The assay values received are highly significant in that we now
have proof that the lodes are mineralised. Indeed, although we are
drilling for structure not for grade, nonetheless the grades
returned of up to 4.25 g/t are really pleasing, not least when
considered against the highly nuggety nature of the lodes."
"These results have added impetus and urgency to the dewatering
of the Llechfraith Shaft and the subsequent underground development
- we believe that this on-reef development will reveal the true
nature of the orebody ultimately leading to a mining
operation."
Details
As announced on 12 March 2020, the Company's Phase 1 surface
drilling campaign encompassed a total of 10 drill holes with a
final drilled total of 1158 m.
Two lode zones, and two additional vein systems (the Canol and
Sill Vein Systems), have been identified and can be correlated over
the strike of the drilling campaign. The two deeper lodes form part
of the Llechfraith Lode (Upper and Lower Lodes). At this stage it
is unclear which of these two Llechfraith Lodes were historically
mined. Table 1 lists the significant gold grades.
Table 1: Significant gold grades, Phase 1 Surface Drilling
HOLE From To (m) Interval (m) Au Grade Interval Lode
(m) (g/t) System
------- ------- ------- -------------
LL001 57.04 57.18 0.14 0.81 0.14 m Canol
------- ------- ------- ------------- ------- --------------- --------
LL001 63.2 63.46 0.26 2.15 0.78 m Canol
------- ------- ------------- ------- --------
63.46 63.73 0.27 1.7
------- ------- ------------- ------- --------
63.73 63.98 0.25 0.1
------- ------- ------- ------------- ------- --------
LL002 53.23 53.46 0.23 0.3 0.23 m Canol
------- ------- ------- ------------- ------- --------
Lower
LL002 97.66 97.91 0.25 0.2 0.25 m Lode
------- ------- ------- ------------- ------- ---------------
LL003 63.72 63.97 0.25 0.6 0.70 m Canol
------- ------- ------------- ------- --------------- --------
63.97 64.25 0.28 0.03
------- ------- ------------- ------- --------------- --------
64.25 64.42 0.17 0.35
------- ------- ------- ------------- ------- --------------- --------
Upper
LL003 88.22 88.37 0.15 0.11 0.48 m Lode
------- ------- ------------- ------- --------------- --------
88.37 88.54 0.17 0.83
------- ------- ------------- ------- --------------- --------
88.54 88.7 0.16 3.56
------- ------- ------- ------------- ------- --------------- --------
Upper
LL008 96.92 97.09 0.17 4.25 0.52 m Lode
------- ------- ------------- ------- --------------- --------
97.09 97.26 0.17 0.0
------- ------- ------------- ------- --------------- --------
97.26 97.44 0.18 0.26
------- ------- ------- ------------- ------- --------------- --------
Upper
LL008 104.07 104.21 0.14 0.09 1.03 m Lode
------- ------- ------------- ------- --------------- --------
104.21 104.36 0.15 0.13
------- ------- ------------- ------- --------------- --------
104.36 104.52 0.16 0.48
------- ------------- -------
104.52 104.65 0.13 0.28
------- ------------- -------
104.65 104.8 0.15 0.35
------- ------------- -------
104.8 104.95 0.15 0.11
------- ------------- -------
104.95 105.1 0.15 0.53
------- ------- ------- ------------- ------- --------------- --------
Lower
LL009 106.86 107.12 0.26 0.14 0.49 m Lode
------- ------- ------------- ------- --------------- --------
107.12 107.35 0.23 0.28
------- ------- ------------- ------- --------------- --------
Phase 1 drilling has shown that mineralisation remains open
along strike to the west, and as the host stratigraphy is also
dipping to the west the deposit could extend to increasing depths
to the west where historical reports suggest the structure joins up
with the Lode mined at Vigra Mine. Future drilling programmes will
aim to infill between the Vigra Mine workings and Llechfraith, with
a view to extending the Llechfraith Lode to the west and to greater
depths.
Figure 1 in the PDF version of this RNS shows an N-S cross
section through the Llechfraith Shaft showing the geometry of the
lodes, vein systems and bounding stratigraphy.
With dewatering the Llechfraith workings being a near-term
objective for Alba, this will allow access into No. 4 Level, one of
the most recent areas of production in the Mine. This is the next
step planned in exploration of the Llechfraith Lode. Access to this
level will also afford the Company an improved understanding of
gold distribution within the lode structure.
As ever, the Company's primary objective will be to bulk sample
and process the on-reef development at No.4 Level and below, in
order to ascertain quickly the gold grades returned and, therefore,
to assess the profitability of commencing commercial mining
operations from the Llechfraith Lode first.
Figure 2 in the PDF version of this RNS shows the projected
extent of the various orebodies in the Llechfraith vein system, and
Figure 3 a geological cross-section of the different Llechfraith
lode or vein systems, as defined by Alba's drilling.
As announced on 12 April 2021, the Phase 2 drilling programme,
which comprises an 8-10 hole project for up to 2000 metres, has
commenced. The first hole has made great progress, reaching a depth
of 177.9 metres on 21 April 2021. This programme is predominantly
targeting the 550 metre lode extension structure identified by last
year's underground drilling programme, as well as depth extensions
of the Grandfathers and 7-10 lode structures.
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 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.
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.
Reef : A term used to describe an orebody, and synonymous with
lode.
Sill: an igneous intrusion which generally follows the bounding
stratigraphy.
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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