Alba Mineral Resources To Begin Drill Programme At Dolgellau Gold Belt

LONDON (Alliance News) - Alba Mineral Resources PLC on Monday said it is about to commence an ...

Alliance News 11 February, 2019 | 11:04AM
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LONDON (Alliance News) - Alba Mineral Resources PLC on Monday said it is about to commence an extensive regional programme across its Dolgellau gold belt at its Clogau gold project in Wales.

Alba owns 90% of Clogau and will collect as many as 3,000 samples covering around 50% of the Dolgellau belt, which runs to around 30 kilometres in a straight line. 1,200 soil samples are to be collected in the first phase of the programme, with the remaining samples taken in a second phase later in 2019.

"The objective of this exploration campaign, the scale of which is unprecedented in the Dolgellau gold belt, is to seek to identify one or more significant new gold deposits within Alba's licence area," said Alba.

The company is also working to re-open the Clogau-St Davids gold mine, located within the Clogau project, and its near-term programme includes continuing environmental baseline studies of the mine, a rehabilitation programme, and the finalisation of a detailed exploration work programme.

In Ireland, Alba remains on track to drill at least one zinc-lead target in April or may and in Greenland, its North Inglefield Land gold belt shows distinct copper-gold enrichment.

"Our ongoing work, both out in the field and in the close season, has enabled us to hone our licences to cover the key targets and deposit areas, so that our exploration spend is directed in a way that we feel will add the most value to Alba and to our shareholders. We remain very positive about all of our Greenland projects, and intend to continue to be one of the prime movers and explorers in that vast, minerals-rich country," said Alba Executive Chair George Frangeskides.

Shares in Alba Mineral Resources were up 3.7% at 0.31 pence on Monday.

By Anna Farley; annafarley@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Security Name Price Change (%) Morningstar
Rating
Alba Mineral Resources PLC 0.28 GBX 1.85 -
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