Operational Update
Alba Mineral Resources Plc has provided an operational update detailing progress across its projects. At the Clogau Gold Mine, underground works including mine surveys, hoist cable enclosures, and shaft modifications are complete, with drilling and blasting expected to commence shortly. For the Motzfeldt Critical Metals Project, a 5kg subsample from the Aries Deposit has been prepared for assay, with results anticipated in early January, and mineralogical test work reporting expected in late January. The company has also completed its maiden drilling programme at the Finnsbo project in Sweden, with geochemical assay results pending to assess the mineralised core.
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Alba Mineral Resources plc (AIM: ALBA), the gold and critical raw materials focused exploration and development company, is pleased to provide this operational update across its project portfolio.
Clogau Gold Mine (Wales, UK)
As previously announced, recent work at Clogau has focused on implementation of the recommendations of HM Inspectorate of Mines following a periodic visit.
Following the completion of the latest stage of underground works, including:
- Independent mine survey of lower levels;
- Enclosure for Shaft 1 hoist cable and interlock system;
- Work on Shaft 1 doors and Shaft 1 remediation;
- Shaft skip modifications; and
- Shaft 2 head sheave support modifications and testing,
the Company is in the process of clearing out the blast material from the previous test blast and making other final preparations in readiness to commence drilling and blasting in the coming days. Further updates will be released as the programme progresses.
Motzfeldt Critical Metals (Greenland)
As previously announced, Alba has agreed to acquire a 51% interest in the Motzfeldt Critical Metals Project in south Greenland.
Regarding the ongoing mineralogical and metallurgical test work programme on a 300kg mini-bulk sample from the Aries Deposit, a 5kg subsample has been crushed to <1mm at a third-party facility in South Africa and is now being submitted for:
- screening and submission of the screened fractions for assay - preparation of the samples for chemical analysis will be completed by mid-December, followed by chemical analysis, with results expected in the first half of January; and
- mineralogical test work, with completion and reporting of results expected in the second half of January.
Finnsbo (Sweden)
As previously announced, the Company is earning an interest in the Finnsbo copper-gold-rare earths project in Sweden.
Alba has completed the maiden drilling programme at Finnsbo, drilling three holes. Most of the drilled metres returned mineralised core. An assessment of the drilling will only be possible once geochemical assays have been completed and reported.
| Alba Mineral Resources plc George Frangeskides, Executive Chairman | +44 20 3950 0725 | |
|---|---|---|
| SPARK Advisory Partners Limited (Nomad) Andrew Emmott | +44 20 3368 3555 | |
| CMC Markets plc (Broker) Thomas Smith / Douglas Crippen | +44 20 3003 8632 | |
| Alba's Projects & Investments | ||
| Projects Operated by Alba | Location | Ownership |
| Clogau (gold) | Wales | 100% |
| Dolgellau Gold Exploration (gold) | Wales | 100% |
| Gwynfynydd (gold) | Wales | 100% |
| Investments Held by Alba | Location | Ownership |
| GreenRoc S trategic Materials Plc (graphite - anode) | Greenland | 25.3 4 % |
| Horse Hill (oil) | England | 11.765% |
| Earn-in Projects | Location | Earn-in Rights |
| Finnsbo (rare earths, copper, gold) | Sweden | Up to 100% |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.