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Pin to quick picksPrimorus Inv. Regulatory News (PRIM)

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Gold Mines of Wales - Update

1 May 2014 07:00

RNS Number : 9490F
Stellar Resources PLC
01 May 2014
 



 

Stellar Resources plc

("Stellar Resources" or "the Company")

 

Gold Mines of Wales - Update

Gold treatment plant expected end of May.

Stellar Resources (AIM: STG) is pleased to announce that the fully integrated 2 tonne per hour gold processing plant, recently purchased for the Clogau Gold Mine in North Wales, has now been shipped from South Africa and is expected to be delivered to Dolgellau in North Wales on or around the 23rd of May.

Bulk samples from the underground operations are currently being stockpiled at the Clogau Gold Mine in preparaion for the arrival of the new treatment plant. The manufacturer of the treatment plant is sending one of its technical team to assist with the set up and initial trial runs.

This treatment plant will enable the Joint Venture partners, GMOW (Operations) Ltd, to commence small scale pilot processing of gold ore previously exposed from the recently rehabilitated underground workings and to more accurately assess and correlate the past year's underground sampling programmes with actual gold recoveries.

Stellar Resources through its 49% investment in GMOW (Operations) Ltd, has the exclusive Option Agreement with the Crown Mineral Agents, acting for the Crown Estates, over the exploration license that covers an area of 120km² containing the entire Dolgellau Gold Belt. The licence contains the historic Clogau St David's Gold mine, renowned as being a source of royal gold.

Ed McDermott, the Company's director in charge of the Wales Operations, commented:

"The Company is aiming to produce the first new gold from the famous Clogau St David's Mine in Wales, for over a decade, over the coming months.

"Although gold production will be limited in the early stages, it will enable the Company to verify the exceptional gold grades achieved in the rehabilitation of the underground workings over the past few years."

 

-END-

Enquiries:

Stellar Resources plc

David Lenigas, Executive Chairman

Donald Strang, Finance Director

Ed McDermott, Operations Director

 

 

+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

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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