(Alliance News) - Alba Mineral Resources PLC on Thursday said it intends to continue exploration at its 90%-owned Clogau project in Wales, UK, in 2020.
The AIM-listed mineral exploration & development company said exploration work at Clogau project aims to assess the near-term opportunity to reopen the historic Clogau-St David's gold mine.
In 2019, Alba carried out a sampling campaign, collecting 1,996 soil samples over a strike length of 9 kilometres in the area known as the Dolgellau gold belt. This work resulted in the identification of 10 new gold anomalies.
In 2020, Alba intends to undertake a trenching programme across a selection of the gold-in-soil anomalies identified from the soil sampling programme. The company said the purpose of this programme will be to remove the topsoil and thereby expose the underlying bedrock, enabling Alba's field team to collect in-situ rock chip samples.
Alba said it is required to obtain planning permission to carry out this work.
The results of the trenching programme will be used to assess the merits of a surface drilling campaign over the most prospective of the regional targets, Alba said.
The stock was trading 1.7% lower in London on Thursday at 0.15 pence a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Alba Mineral Resources (ALBA)