RE: RNS27 May 2025 07:02
Operational Update
Alba Mineral Resources Plc (AIM: ALBA) is pleased to provide this operational update in respect of the Company's 100% owned Clogau-St David's Gold Mine in north Wales ("Clogau" or the "Mine") and its high-grade REE and gold farm-in prospect, Finnsbo, in Sweden.
Key Points
Clogau (Gold)
· The Company has finalised the plan for the next phase of blasting at Clogau, including making modifications to the technical blasting specifications to be employed in order to achieve greater frequency and faster progression through the blasting sequences.
Finnsbo (Rare Earths and Gold)
· A specialist geophysics contractor has successfully completed a ground-based geophysical survey at Finnsbo.
· The results of the survey have strengthened the indications that the more unique "POP 2" style of high-grade gold, copper and rare earth element ("REE") mineralisation is of magmatic origin and related to the intrusive tonalite.
· Further exploration should focus on core drilling the contact zone starting at the POP 2 location and stepping out towards the southeast, seeking continuity of high-grade mineralisation.
George Frangeskides, Executive Chairman, commented:
"We are very pleased to have refined and confirmed the technical plan for the next phase of underground blasting at Clogau. We anticipate that the technical modifications made will enable us to achieve greater frequency and progression through the blasting sequences.
"We are also delighted that our first significant field programme at Finnsbo, our high-grade gold and rare earth prospect in southern Sweden, has been successfully completed and appears, from our preliminary assessment, to have generated excellent data. Further technical analysis and interpretation will be undertaken, but this new data set for the licence confirms that the focus of future work should be the drilling of a few short exploratory holes at the contact zone starting at the POP 2 location and stepping out towards the southeast, seeking continuity of the high-grade gold, copper and rare earth mineralisation we have encountered at POP 2."
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