Alba Mineral Resources PLC has released its half-year report for the six months ended 31 May 2023. The report includes the results of its subsidiary companies, Aurum Mineral Resources Limited, Mauritania Ventures Limited, Dragonfire Mining Limited, the Gold Mines of Wales group of companies, and GMOW (Gwynfynydd) Limited. The report also consolidates the results of the GreenRoc Mining Plc group of companies for the period up to 9 March 2023.
The report highlights the company's focus on securing ecological permits for the Clogau-St David's Gold Mine in north Wales. The Lower Llechfraith workings within the mine have the potential for high-grade gold mineralization. The company has obtained the necessary permits and has started a dewatering program to remove water from the flooded workings. Once the dewatering is complete, the company will be able to access the lower workings and conduct exploration activities.
However, heavy rainfall during the dewatering period has caused the workings to reflood, and the company has requested an extension to the abstraction rate from the regulator, Natural Resources Wales. The company is also applying for formal variations to the discharge and abstraction permits to increase the applicable thresholds.
The report states that an initial dewatering to a depth of at least 15 meters would allow the company to begin safety, clean-up, and exploration works on Level 4. A second phase of dewatering to a depth of around 30 meters would enable the sinking of winzes for bulk sampling and further development. The company is committed to ensuring compliance with discharge permits criteria and has implemented mitigation measures to remove excess solids from the water.
Overall, the company remains focused on advancing its Welsh gold projects and is optimistic about the potential for high-grade gold mineralization at the Clogau-St David's Gold Mine.