TIDMALBA
RNS Number : 8030Z
Alba Mineral Resources PLC
26 May 2021
Alba Mineral Resources plc
("Alba" or the "Company")
Clogau-St David's Gold Mine Update
Preliminary Bulk Sample Assay Results
Alba Mineral Resources plc (AIM: ALBA) is pleased to announce
that the first set of assay results on bulk sample concentrates
produced at the Company's pilot processing plant at the Clogau-St
David's Gold Mine (the "Mine") have been received by the Company
from an accredited independent laboratory.
Key Points
-- Concentrates produced from Jack Williams Lode and floor
material from Tyn-Y-Cornel area returned notable grades of 20.4 to
165.5 g/t
-- Concentrates produced from two other bulk sample locations
returned lower-grade results - grade variability expected due to
bulk sample locations (in previously worked-out areas) and inherent
nature of Clogau vein system (irregular gold dissemination)
-- The further bulk samples due to be taken this year will be
from new, unworked veins, with prospects for higher-grade
mineralisation
-- Pilot processing plant performing well in terms of ability to
extract and concentrate coarse gold.
-- Tailings values returned negligible gold grades indicating
that plant operating with high efficiency
-- Underground and surface drilling progressing well
Alba's Executive Chairman, George Frangeskides, commented:
"These are really pleasing test results and demonstrate how well
our pilot plant is working now in producing gold concentrates with
high recoveries. This bodes well for when we move onto bulk
sampling new and previously unmined areas, in particular those new
zones which we are defining in the course of our ongoing surface
and underground drilling, where we believe the prospects for
high-grade mineralisation are much greater."
Details
Further to the Company's announcement on 12 April 2021, the
processing of the underground bulk sample collected in October 2020
has been completed.
As previously advised, this first bulk sample was taken from
previously worked areas of the Mine, and as such the Company was
not anticipating high-grade results from this initial processing
exercise. However, Alba is very pleased to report that the results
for the first set of concentrates which have been assayed include
some very notable grades, as set out in Table 1 below.
Table 1: Notable Grades from Assaying of Bulk Sample
Concentrates
Sample ID Location Concentrate Concentrate
sample mass Au (g/t)
(g)
JW-2-C JW 158 53.5
---------- ------------- ------------
JW-3-SM JW 158 81.5
---------- ------------- ------------
JW-5-SM JW 157 22.9
---------- ------------- ------------
JW-6-C JW 156 31.3
---------- ------------- ------------
JW-6-SM JW 162 50.6
---------- ------------- ------------
JW001-7-C JW001 151 20.4
---------- ------------- ------------
JW003-16-C JW003 157 52.3
---------- ------------- ------------
JWSP-19-C JW-SP 161 48.6
---------- ------------- ------------
JWSP-20-C JW-SP 151 45.8
---------- ------------- ------------
2019-1-C1 2019 164 33.3
---------- ------------- ------------
2019-15-C 2019 163 165.5
---------- ------------- ------------
Those samples located at "JW" denote bulk samples taken from the
Jack Williams Lode. The samples located at "2019" denotes bulk
samples taken from the broken stock floor material taken from the
mined-out areas at the Tyn-y-Cornel area. Accordingly, the Company
intends to take further bulk samples from these areas during the
current phase of underground work activities which are ongoing.
These results, grading from 20.4 g/t to 165.5 g/t, are a
significant advance on the initial processing of a small bulk
sample at a third-party processing facility, which was announced on
8 January 2021, and which confirmed the production of a 20.7 grams
per tonne gold concentrate.
Assays from concentrate produced from two other bulk samples,
those taken at the Tyn-Y-Cornel South mining area and the
Llechfraith Level 2 Pillar returned lower grade results.
The variability of grades is to be expected and is indicative of
two principal factors: firstly, the fact that these initial bulk
samples have been taken from previously worked areas of the Mine,
meaning that those areas - unlike the new areas which the Company
is targeting - are much more likely to host lower remnant grades;
and secondly, that gold distribution at Clogau is known to be
irregularly disseminated.
The irregular distribution and grade of gold is a function of
the high nuggety-effect of the Clogau vein system, which is why
Alba's exploration strategy has always been based on a combination
of drilling, to identify gold-bearing structures, and bulk
sampling, to obtain a representative idea of gold grade. Thus far,
the Company has yet to combine these strategies in a particular
zone, as all the bulk sampling last year was carried out in
previously mined areas, not areas which have been identified
through Alba's own drilling. This will change in the course of the
current underground programme, as Alba expects to take bulk samples
from new and unworked veins which have been identified through the
Company's own drilling, and where the prospects for higher-grade
mineralisation are therefore expected to be greater.
The primary goal of this initial test processing phase has been
to confirm that the pilot processing plant built by the Company
performs well in terms of its ability to extract and concentrate
coarse gold. This has been confirmed by these results. Moreover,
tailings values returned negligible gold grades indicating that the
pilot is operating with high efficiency.
Further results will be announced as and when they are
available.
Drilling Update
Both the underground and surface drilling programmes at
Clogau-St David's are progressing well. JW003, the third hole in
the current phase of surface drilling, has reached a depth of 115
metres. The first hole in the current phase of underground
drilling, UG001, has been drilled to 50.5 metres. Both figures are
correct as at close of business on 24 May 2021.
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.
Glossary
Jack Williams: The Jack Williams Stope is the most westerly
mined portion of the Main Lode.
Main Lode: The main quartz vein structure along which the
majority of historic mining took place at Clogau-St David's. The
Main Lode was mined from the Jack Williams Stope for approximately
300m eastwards to the Bryntirion Fault, on the other side of which
it was mined over a strike of at least 150m at the St David's
Mine.
Mineralisation: Any single mineral or combination of minerals
occurring in a mass, or deposit, of economic interest. The term is
intended to cover all forms in which mineralisation might occur,
whether by class of deposit, mode of occurrence, genesis or
composition.
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.
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%
----------- ----------
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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END
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