Last checked at 25 Feb 2014 07:00
Stellar Resources plc
("Stellar Resources" or "the Company")
Gold Mines of Wales Update
Purchase of gold processing plant
Stellar Resources (AiM: STG) is pleased to announce that the Company has purchased a fully integrated gold processing plant capable of processing up to 2 tonnes of ore per hour for the Clogau Gold Mine in North Wales. The plant will be used to process previously identified high grade areas that have been re-opened as part of the underground clean-up operations which have been ongoing over the past 18 months.
The new processing plant is currently being manufactured in South Africa and is expected to be delivered to Dolgellau in approximately 8 weeks.
Stellar Resources through its 49% investment in GMOW (Operations) Ltd, has the exclusive Option Agreement with the Crown Estates over the exploration licence that covers an area of 120km² which contains the entire Dolgellau Gold Belt, including the historic Clogau Gold mine.
David Lenigas, the Company's Chairman commented;
"The purchase of this gold processing plant will allow the joint venture parties to more accurately assess the gold grades of some of the unmined areas of the Clogau Gold Mine and also assist in providing valuable information regarding metallurgical recovery of the gold from the Clogau ore."
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Enquiries:
Stellar Resources plc David Lenigas, Executive Chairman Donald Strang, Finance Director Ed McDermott, Operations Director
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+44 (0) 20 7440 0640 |
Cairn Financial Advisers LLP James Caithie / Paul Trendell
Public Relations: Square 1 Consulting Ltd David Bick/Mark Longson |
+44 (0) 20 7148 7900
+44 (0) 20 7929 5599
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