RE: RNS12 Mar 2021 07:03
Mark Austin, Alba's Chief Operating Officer, commented:
"Hole LL010 was designed to assess whether the newly identified lode system beneath the Llechfraith mine area extends to 100 metres below those previous workings. In the event, the hole has greatly exceeded our expectations, intersecting the lower lode at a depth of 122 metres below the lowest workings."
"Now that this phase of drilling has been completed, we have been able to refine our 3D model for this significant, unexploited lode system, which we are calling the Llechfraith Lode, and to calculate for the first time a tonnage estimation of 24,000 to 27,000 tonnes for the Lower Lode alone. This should give a good indication of the sheer size of the Llechfraith Lode and its potential significance for our future development and production plans at Clogau-St David's."
"Perhaps even more significant is the fact that we have intersected the Llechfraith Lode structure at such depth. This has implications for the entire Clogau St. David's Gold Mine, as it indicates that gold-bearing structures mined in and around the Mine could extend significantly to depths which historical mining never reached. This will be further tested very soon, as we embark on Phase 2 of our surface drilling programme targeting the depth extensions of the 7-10 and Grandfathers Lodes, which were significant sites of past production on the Llechfraith Adit Level."