Alba Mineral Resources Plc has provided an update on its work at the Clogau-St David's Gold Mine in north Wales, particularly focusing on the Lower Llechfraith workings, its principal gold target. The company has completed the statutory notification requirements for planned bulk sampling of the Llechfraith Target and trenching of the Clogau Waste Tip, and will proceed with both exercises. The processing of samples from the Llechfraith Target and interpretation of the airborne geophysical survey are key areas of focus.
The company has processed more than 40 samples from No.4 Level at the Llechfraith Target to produce heavy mineral concentrates, which have been sent to a third-party refining facility for determining their gold content. Results are expected shortly. Additionally, the processing and interpretation of the airborne geophysical survey undertaken over Alba's key regional gold targets continues, with results expected from the first survey site, Clogau, in the week commencing 25 March.
George Frangeskides, Executive Chairman, expressed the company's excitement about passing the final regulatory step for the planned bulk sampling and trenching exercises. He highlighted the significance of commencing work at the primary underground gold target, which will allow the assessment of the overall gold grade in previously unmined workings and confirm the economic feasibility of recommencing commercial mining operations at the UK's largest gold mine.
The indicative timelines for the bulk sampling exercises are outlined, with the Waste Tip exercise expected to proceed in April, and the Underground Bulk Sampling exercise set to commence in April/May. The company is mobilizing for site preparation, blasting, ore removal, sorting, processing, and refining, with the aim of processing ore to gold concentrate and refining & smelting by July/August.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation, and it includes forward-looking statements relating to expected or anticipated future events and results. The Directors of the Company are responsible for the release of this announcement.