Alba Mineral Resources PLC Clogau Gold Mine: Update on Field Activities (2179W)

TIDMALBA

RNS Number : 2179W

Alba Mineral Resources PLC

14 August 2020

Alba Mineral Resources plc

("Alba" or the "Company")

Clogau Gold Mine: Update on Bulk Sampling and Drilling Programme

Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, is pleased to provide an update on the Company's planned field activities.

Further to our announcement on 22 July 2020, we are very pleased to report that the North Wales Minerals and Waste Planning Service, as the competent planning authority for the Clogau-St David's Gold Mine (the "Mine"), has confirmed that Alba's planned underground bulk sampling and drilling programme may proceed by way of permitted development.

The Company is in the process of mobilising contractors to site for a start date on or around 1 September 2020.

The consents referred to above do not cover Alba's planned surface trenching programme scheduled for Q4 2020, as described in the Company's 22 July 2020 announcement. Planning permission for the surface trenching programme is a separate matter and will be announced as and when a decision is notified to the Company.

Bulk Sampling and Drilling Programme Recap

Bulk Sampling

The upcoming work at the Mine will be focused on extracting several bulk samples from target areas within the existing mine development. As the gold at Clogau is highly nuggety and contained in narrow quartz veins, bulk sampling is typically deployed in order to obtain a representative idea of gold content across a particular vein or zone.

The bulk sampling exercise will be undertaken in conjunction with the underground rock chip sampling, channel sampling and drilling programmes. The Company will look to extract several tonnes of material from each of a number of target zones.

This work is directly aimed at identifying unexploited gold zones and known payshoot extensions within the Mine which will support a decision to reopen the Mine for long-term commercial production.

Underground Drilling

Drilling in a narrow-veined setting such as Clogau is an efficient way to explore for extensions of an existing ore body. Drilling depths will likely be between 50-100m, as drilling from within the existing mine development means that holes can be significantly shorter than they would be from surface.

The programme will likely involve around 5-10 holes for a total of around 500 metres.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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 Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events. 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

Mineralisation: Economically important metals that can occur at a variety of scales from small disseminations through to large zones or ore bodies.

Quartz Veins: A distinct sheet-like body dominantly composed of quartz hosted within a rock formation.

For further information, please contact:

 
 Alba Mineral Resources plc 
  George Frangeskides, Executive Chairman    [phone] 
 
 Cairn Financial Advisers LLP (Nomad) 
  James Caithie / Liam Murray                [phone] 
 
 First Equity Limited (Broker) 
  Jason Robertson                            [phone] 
 
 

Alba's Project and Investment Portfolio

 
 Project (commodity)            Location     Ownership 
 Mining Projects 
 Amitsoq (graphite)             Greenland    90% 
                               -----------  ---------- 
 Clogau (gold)                  Wales        90% 
                               -----------  ---------- 
 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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August 14, 2020 07:57 ET (11:57 GMT)