RE: RNS2 Mar 2021 07:13
"Alba" or the "Company")
Clogau-St David's Gold Mine Update
Llechfraith Gold Target Strike Extent Projected at 58 Metres
Alba Mineral Resources plc (AIM: ALBA) is pleased to provide an update on the Company's work activities at the Clogau-St David's Gold Mine (the "Mine") where the latest results of the ongoing Phase 1 surface drilling programme have now enabled the Company to project the newly identified vein system at the Llechfraith mine area as having a strike extent of 58 metres.
Key Points
· Surface Drilling Update
o Since last update (2 February 2021), holes LL007 - LL009 have been drilled to bring the Phase 1 running total up to 981.6 m over nine holes
o LL008 intercepted the target structure, including one intercept 1.49 metres thick (one of the thickest vein intercepts in the entire programme)
o LL009 intersected the projected pay shoot at the deepest and westernmost point so far
o Alba now projects the newly identified vein system as having a strike extent of up to 58 metres, as well as extending 66 metres below the deepest previously worked zone at the Llechfraith mine area
o While it had originally been planned to drill only three holes from this collar location, the success of the drilling has resulted in the Company drilling a total of ten holes from this same location, allowing the significant dimensions of this lode system to be more clearly defined
o Final hole LL010 in this Phase will test the depth extent of the structure, aiming to intercept the lode at around 100 m below the existing workings
· Alba is in the process of drawing up plans to directly access this newly identified lode structure at depth in order to assess and collect ore for future processing and mining
Mark Austin, Alba's Chief Operating Officer, commented:
"All of our drilling to date has been aimed at providing us with critical geological and structural information on the lode systems previously mined at Clogau, so that we can assess if those same structures continue beyond the limits of the previously mined areas. To this end, the drilling at Llechfraith has been more successful than we could reasonably have anticipated: the physical attributes of the veins that we have intersected in our drill holes reflect the characteristics of the veins that were successfully mined in the past."
"While we should await the results of the drill core assays before reaching any preliminary conclusions, the significant dimensions of the Llechfraith Lode, as defined by the drilling so far completed, indicate that this could well be a significant contributor to future production at Clogau-St David's."
Details
Due to the ongoing success of the Phase 1 surface drilling campaign, the programme has now been extended to its tenth drill hole. To date, nine holes (LL001-LL009) have been completed for 981.6 metres. The tenth (and expected final hole), LL010, has now commenced and is expected to be appro