The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Pushed back to 29th April due to Covid.
And we now have £2.3m in the bank to fund litigation.
The Company is pleased to confirm, therefore, that the independent bench-scale testwork undertaken has confirmed that a gold concentrate can be produced from the bulk sample with good recoveries of gold to concentrate.
Processing of the bulk sample at the Company's pilot processing plant is expected to be ongoing throughout much of Q1 2021. The Company does not expect to be in a position to release results until all processing has been completed and the results have been verified.
Alba Mineral Resources plc (AIM: ALBA) is pleased to provide an update on the Company's Clogau-St David's Gold Mine ("Mine").
Key Points
· Surface drilling has recommenced
· Processing of small bulk sample at a third-party processing facility has validated the Company's process flowsheet and confirmed the production of a 20.7 grams per tonne gold concentrate
· The Company's dedicated pilot processing plant is expected to be operational in the week commencing 11 January 2021 and to continue throughout Q1 2021
George Frangeskides, Alba's Executive Chairman, commented: "We are very pleased to report that the independent bench-scale testing has validated our process flow-sheet for Clogau ore, as well as confirming the production of a gold concentrate with good recoveries of gold to concentrate. This gives us great encouragement as we near the commencement of operation of our own dedicated pilot processing plant."
"Surface drilling has restarted after the Christmas break. While drill hole LL004 encountered difficult ground, this is part and parcel of exploration drilling. As announced on 21 December 2020, we now move onto the planned deeper holes, LL005 and LL006, to test the depth extent of the new vein system which we believe we have identified in holes LL001-003, each of which intersected significant quartz veins some 30 metres below the deepest previously worked zone at the Llechfraith mine area."
Surface Drilling
The Company's Phase 1 Surface Drilling campaign at the Mine has recommenced. Drill hole LL004 was drilled to 62.4 metres, but due to difficult ground conditions encountered, the end of the hole was called before the hole had intersected the expected quartz zone. The Company's drilling contractors are currently preparing the drill collar for LL005. The trajectory of LL005 will be steeper (-55°) to obtain a deeper lode intersection around 20 metres below the intersections obtained in LL001-003.
Pilot Processing Plant
Final minor adjustments and tests are being carried out in respect of the Company's pilot gold processing plant, and the Company accordingly expects to be able to commence processing the ~36 tonne bulk sample collected in September-October 2020 in the week commencing 11 January 2021.
A small amount of bulk sample material was sent by the Company to an independent laboratory for bench-scale testing, in order to validate the process flowsheet which has been designed by the Company for ore having the particular characteristics of Clogau ore. The Company is pleased to report that the bench-scale testing was successful. In particular:
· good gold recoveries were achieved, with 78.06% of the total gold content being captured in the Gravity concentrate plus Concentrate 1 of the Gravity tailings fractions; and
· a gold concentrate was produced, grading 20.7 grams per tonne.
Proactive investors did an article last Friday that gives a good overview of what Mark Bolton talks about in today's interview:
https://www.proactiveinvestors.co.uk/companies/news/936312/panthera-says-associated-company-secures-all-previous-drilling-geological-geochemical-and-geophysical-data-on-the-labola-project-936312.html
Its uncomfortable seeing the share price slide on good news, but the fundamentals of our projects have only improved - Bluejay's license being approved, the exploration license for Gwynfynydd and identifying the main lode extension! Those of us who have done our due diligence have invested based on the potential of those projects. Switch off from the day to day share price and look ahead to the long term!
@ejt7777 saw there was a new RNS and my heart stopped - turns out it was only a price monitoring extension RNS!
Mini heart attack