Alba Mineral Resources plc said it had identified a new high-grade regional gold target within its exploration licence area of the Dolgellau gold belt, Wales.
The target, close to Gwynfynydd gold mine, showed with grab samples grading up to 24g/t.
Stream sediment samples are being taken as part of an ongoing study in collaboration with Camborne School of Mines.
ASSAY
From a review of historical data, Alba identified five to six north-south structures all of which are associated with historical mine workings.
During field exploration, one boulder clearly showed a multi-stage banded vein reminiscent of epithermal mineralisation.
Once broken open, a pod of massive sulphide mineralisation was revealed within the central part of the vein.
The boulder was sampled and sent for assay, which returned elevated grades of 6.5 g/t and 24.1 g/t Au.
Another sample taken during the initial reconnaissance visit was a float sample of breccia mineralisation which returned a grade of 3.8 g/t Au.
FIELD CAMPAIGN
“The fact that our team have unearthed this new high-grade gold target on our licence area, grading up to 24 g/t, is a timely reminder of the great potential of the Dolgellau gold field,” said the executive chairman George Frangeskides.
“There are some 300 historical workings in the Dolgellau gold field, not to mention no fewer than 11 past producing gold mines.”
Alba plans to undertake a follow-up field campaign of mapping and bedrock sampling in the area during August 2021 to identify further examples of mineralisation.