TIDMALBA
RNS Number : 5713O
Alba Mineral Resources PLC
11 October 2021
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Alba Mineral Resources plc
("Alba" or the "Company")
Clogau-St David's Gold Mine, North Wales
Near-Mine Exploration Update
Alba Mineral Resources plc (AIM: ALBA) is pleased to provide an
update on its ongoing work activities at the Clogau-St David's Gold
Mine ("Clogau" or the "Mine") in North Wales in relation to the
identification of new near-mine gold resources, as well as an
update on the permitting process in relation to the proposed
dewatering of the Llechfraith Shaft.
Key Points
-- Additional potential for gold mineralisation at and around Clogau revealed by multi-element Prospectivity Modelling of Alba's 2019 Soil Sampling Programme ("SSP").
-- Six high-confidence targets refined from the 10 targets
previously defined by the SSP for follow-up investigation,
including:
o a 1.8 km long structure to the east of the Brintirion Fault
which cuts through and displaces the lodes between the Clogau and
St. David's workings.
o a 2 km long target in the NE of the project area, previously
tested by trenching in late 2020.
-- High-resolution UAV-Aeromagnetic Geophysical survey being
commissioned to pinpoint the bedrock sources of geochemical
anomalies.
-- Alba's detailed report has now been submitted to NRW in
respect of the latter's Habitat Regulations Assessment of the
proposed dewatering of the Llechfraith Shaft.
Alba's Executive Chairman, George Frangeskides, commented:
"We continue to make excellent progress at the Clogau-St.
David's Gold Mine in Wales as we build our understanding of the
potential extent of near-mine gold mineralisation. Our recent work
has distilled the 10 regional and near-mine gold targets we
previously identified into six high-priority targets, including two
which are 1.8 km and 2 km long. We look forward to advancing our
knowledge of these virgin gold targets by further in-depth
exploration, including applying the latest technological advances
in drone geophysical surveys."
Prospectivity Modelling
Following geochemical analysis of 1,997 soil samples collected
in 2018-19, 10 targets were defined around clusters of gold ('Au')
anomalies in a large area centred over the Clogau-St. David's Mine
(see RNS dated 6 August 2019).
Gold is known to be prone to the "nugget effect" during sampling
programmes and this is especially prevalent in the style of
mineralisation seen at Clogau. Therefore, incorporating additional
elements into targeting workflows is important to pick up the
traces of mineralisation in the absence of Au itself or in the case
of low-level gold anomalism.
Multi-element analysis of mineralised drill core at Clogau has
confirmed several key pathfinder trace elements in the mineralising
system, showing that silver ('Ag'), Arsenic ('As'), bismuth ('Bi'),
admium ('Cd'), antimony ('Sb'), selenium ('Se') and tellurium
('Te') are enriched within the quartz veins. In addition, the more
common elements cobalt ('Co'), copper ('Cu'), lead ('Pb') and zinc
('Zn') are all known to be found in mineral phases closely
associated with Au in the Dolgellau Gold Field and at Clogau.
These elements were all reported as part of the geochemical
analysis of the soil samples from the 2019 Soil Sampling Programme
and anomalies incorporated into a Weighted Overlay Model.
Mineralisation at Clogau and in the Dolgellau Gold Field is in
general hosted by ENE-WSW / NE-SW trending quartz veins, so
geological structures in these orientations are considered highly
prospective.
The model highlights several key areas where geochemically
prospective ground appears to conform to this structural trend.
Both the "North Vigra" and "Fryngaer" targets conform to a NE-SW
trend, and to structures mapped by the British Geological Survey
('BGS') in this general orientation. Additionally, highly
prospective ground has been identified immediately to the south of
the Mine workings, showing the potential for extensions
along-strike of the Old Clogau lode and other lodes.
Importantly, the model picks out a 1.8 km long ENE-WSW striking
zone of prospective ground to the east of the Brintirion Fault, a
structure which cuts through and displaces the lodes between the
Clogau and St. David's workings. This represents the possible
continuation of mineralisation related to the lodes worked at
Clogau itself. Further work will be done to establish the bedrock
source of these anomalies.
In addition, the 2 km long anomalies previously defined in the
NE as Targets "9" and "10" have been consolidated into a single
target, and strong pathfinder element anomalies here confirm the
prospectivity of this region. When this NE-SW trending zone of
prospectivity is extrapolated to the north-east, it lines up
directly with the workings of the Union and Cefn Coch Gold Mines,
which are 0.5 km and 1.6 km away respectively along strike.
The Cefn Coch mine was one of the more productive in the
Dolgellau Gold Field, producing 1,392 Oz of Au from 2,704 tons of
ore between 1862 and 1912. 19(th) Century workings are also
recorded at the closer Union (or Wnion) Mine. Alba's soil data
suggests that the lode network exploited at both of these sites may
continue in the subsurface below the prospective ground. Trenching
in this region identified a significant thickness of glacial
overburden, which means that the true bedrock source of these
anomalies is currently unconstrained.
UAV-Aeromagnetic Survey
In order to narrow the possible bedrock sources of the key
targets identified by the 2019 geochemical survey programme, as
refined by the Prospectivity Modelling presented above, Alba is
commissioning Wales-headquartered UAVE Ltd to carry out a UAV-borne
geophysical survey to map the magnetic properties of the subsurface
below these targets.
Using UAVs (or drones) to perform airborne geophysical surveys
confers significant benefits over traditional helicopter or
fixed-wing aircraft surveys. Drones are considerably cheaper to
commission, cause minimal disturbance, collect data at a much
higher resolution and have a significantly lower carbon
footprint.
The survey will use the state-of-the-art Geometrics MFAM (Micro
Fabricated Atomic Magnetometer) system, a recent technological
advance which has allowed a 10-fold reduction in size and power
consumption whilst retaining the high quality of a Cesium-vapour
magnetometer.
The survey objective is to pinpoint the bedrock sources of
geochemical anomalies, which will have significant implications for
both regional exploration and the identification of further
near-mine resource opportunities. The resolution of the survey,
using a 25 m line spacing and with the drone able to operate just
30-50 metres from ground level, will enable Alba to define targets
with enough confidence to undertake intrusive follow-up
investigations such as drilling.
If successful, Alba will look to roll out the same drone-borne
aeromagnetic surveys to a number of the other regional gold
exploration targets within its portfolio, allowing the team to
explore for significant new resource opportunities in the Dolgellau
Gold Field.
The survey will be undertaken once all relevant landowner
consents are in place, which process is well underway. The Company
hopes to be in a position to undertake the first survey in Q1
2022.
Dewatering of Llechfraith Shaft
As reported in the Company's announcement of 8 October 2021,
Alba's environmental and ecological team has been compiling a
detailed report to inform the NRW's Habitat Regulations Assessment
("HRA"), the overall objective of which is to assist NRW in its
assessment of any potential impacts of the proposed dewatering of
the Llechfraith Shaft on the integrity of the Special Areas of
Conservation ("SACs") situated closest to the mine.
Alba is now pleased to confirm that its report, which runs to
more than 70 pages, has been submitted to NRW. The Company will
advise of further material developments in the permitting process
as and when they arise.
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.
S
For further information, please visit
www.albamineralresources.com or contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
SPARK Advisory Partners Limited (Nomad)
Andrew Emmott +44 20 3368 3555
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
St Brides Partners (Financial PR)
Isabel de Salis / Catherine Leftley alba@stbridespartners.co.uk
Glossary
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.
Quartz vein: A sheet-like body consisting predominantly of the
mineral quartz, which is known to host gold mineralisation in the
Dolgellau Gold Belt.
Weighted
Overlay
Model: A method by which maps of geochemical data can be
assigned levels of importance (a 'Weighting') and combined to
produce a prospectivity map that highlights areas of high potential
for mineralisation.
UAV-Borne
Aeromagnetic
Survey: An aeromagnetic survey is a type of geophysical survey
carried out using a magnetometer attached to a Unmanned Aerial
Vehicle (UAV) or drone. The magnetometer records magnetic
variations below the surface and mounting this on a drone allows
large areas of the Earth's surface to be covered quickly for
regional reconnaissance and targeted exploration alike. The
aircraft typically flies in a grid-like pattern with height and
line spacing determining the resolution of the data.
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.
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.
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.
Alba's Projects and Investments
Mining Projects Operated Location Ownership
by Alba
Clogau (gold) Wales 90%
----------- ----------
Dolgellau Gold Exploration
(gold) Wales 90-100%
----------- ----------
Gwynfynydd (gold) Wales 100%
----------- ----------
Limerick (zinc-lead) Ireland 100%
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Investments Held by Alba Location Ownership
----------- ----------
GreenRoc Mining Plc (mining) Greenland 54%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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