(Alliance News) - Alba Mineral Resources PLC on Friday said it has demonstrated that the shear zone-hosted quartz veins in the Llechfraith mine area of its Clogau-St David's gold mine continue below the level of historic workings.
Shares in the mineral exploration and development firm were down 1.8% at 0.162 pence in London in afternoon trading.
This was the primary objective of Alba Mineral's Llechfraith mine area programme at the Welsh gold mine, and is significant as shear zone-hosted quartz veining is the main setting all of the historic gold mining at Colgau-St David's.
Drilling intersected intrusive greenstones and shear zones, which were dominated by intermixed Cloagau shale and quartz veining. This was the first ever exploration drill campaign at the mine to target extensions to the Llechfraith workings.
Drill holds GMOW002 and GMOW003 both intersected shear zone-hosted quartz veining at up to 25 metres below the lowest known workings at Llechfraith, confirming the shear zone structure's continuity for at least 25 metres down dip of the historic workings.
Executive Chair George Frangeskides said: "We have undertaken the most extensive rehabilitation and safety works within the mine carried out over the past few decades, if not longer, such that large areas of the mine are now accessible to us as we seek to identify extensions to the gold-bearing quartz veins. And we are now the first group in the mine's history, to our knowledge, to have ever undertaken exploration drilling at Clogau.
"This is an exciting and unique project, and we look forward to hitting further significant milestones in the coming year as we seek to bring Clogau back into commercial production in the shortest possible timeframe."
By Anna Farley; firstname.lastname@example.org
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