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Alba Minerals making "really good progress" at Clogau gold project

Alba's technical team is evaluating the use of shrinkage stoping as a mining method, where the majority of the waste remains in-stope and the balance is used to fill old stope blocks where possible

Clogau mine diagram
Clogau offers excellent potential to find unworked veins using modern techniques

The first two months of the year has seen “really good progress” at the Clogau gold project in Wales, Alba Mineral Resources PLC (LON:ALBA) said.

The company, which has a stake in the mine through its 49% interest in the project’s owner, Gold Mines of Wales (GMOW), said detailed underground surveying by means of three-dimensional (3D) scanning of immediately accessible areas within the upper adit has been completed.

READ: Alba Mineral Resources adds to exploration acreage in Greenland

A 3D geological model is being constructed for the entire licence area and the existing mine workings.

Alba said a preliminary mine plan is being generated and the primary targets for regional gold exploration are being refined for the spring 2018 field programme.

“The underground scanning of the extensive mine workings, and the 3D geological model that we are developing, will be invaluable assets in leading us to the principal targets for unworked gold mineralisation within the mine,” said George Frangeskides, the executive chairman of Alba.

“Having identified over 300 known gold occurrences within the wider project area, we are certainly spoilt for choice," he added.

"This is a known and vastly under-explored gold belt - the great majority of it under licence to GMOW - and we are excited by the prospect of exploring the highest priority gold occurrences in the coming weeks,” Frangeskides said.

Shares in Alba were up 1.1% at 0.359p following the announcement.

 

Quick facts: Alba Mineral Resources PLC

Price: 0.06 GBX

AIM:ALBA
Market: AIM
Market Cap: £2.28 m
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