Alba Mineral Resources plc reported “exceptionally high-grade sampling results” from No.4 level at the lower Llechfraith workings in Clogau-St David’s gold mine, north Wales.
OPPORTUNITY
The company said it was encouraged by the findings from refined composites of heavy mineral concentrates produced from processing more than 40 samples.
From composite 1, recovery of gold weighed 3.1 grams of gold from 49.2kg of sample (dry weight) equating to a back-calculated head grade of 89.15 g/t or 2.87 troy oz/t.
The second composite had a recovery of 3.2 grams of gold from 34.4kg of sample (111.63 g/t or 3.59 oz/t).
From the third composite sample four grams of gold were recovered from 36.9kg of sample (133.73 g/t or 4.30 oz/t).
Alba added that the high grades were from ore without visible gold and is “interpreted as being part of the background gold population”.
Given that today’s published results are from shallow chip sampling on a previously mined level, the company will take more extensive sampling from level 4.
Alba is also planning bulk sampling within the extension to the Llechfraith payshoot below No.4 level, targeting “bonanza” grades of the kind found in previous mining at Clogau.
If there are further and extensive gold grades on No.4 level, the combined findings could “significantly” strengthen the economic case for reopening the mine for commercial production.
The company additionally found “historic piles of broken ore” abandoned on No.4 level, representing a “potential gold processing opportunity,” before any planned new development.
“These are extraordinarily good results from No.4 level,” added executive chairman George Frangeskides.
“Whereas most gold projects measure results in grams per tonne, these grades can be measured in ounces per tonne.
“We always knew there was serious potential for finding high-grade gold at Clogau.
“But after all the challenges we have faced over the past few years in gaining access to our No.1 target within the mine, to now have that high-grade potential finally confirmed by actual results is extremely heartening.
“We now look forward to the forthcoming bulk sampling on and below No.4 level with a great deal of confidence and no little excitement.”