LONDON (Alliance News) - Alba Mineral Resources PLC on Wednesday said soil sampling at its Clogau project in Wales has confirmed gold anomalies across the full strike length of the existing mine.
The mineral exploration company said geochemical soil sampling at 20 metre intervals, on lines 200 metres apart, showed that gold lies primarily to the north-western side of the historic workings of the mine and across the full strike length.
The soil sample with the highest grade, 0.279 parts per million of gold, was found away from the mine workings, indicating follow-up targets for exploration.
"We have already found potential extensions of mineralisation close to the existing mine workings, specifically in the western portion of the mine area but also away from the mine workings, at the contact between the different geological formations," said Alba Mineral Executive Chairman George Frangeskides.
"We are excited about the work that lies ahead and the potential that exists in this known high-grade gold system," Frangeskides added.
Shares in Alba Mineral Resources were down 1.1% at 0.45 pence on Wednesday.
Alba Mineral Resources (ALBA)