Today, Alba Mineral Resources (ALBA ) has released its analysis of the core samples obtained during its drilling at Clogau to date which Alba’s Executive Chairman, George Frangeskides says provides “further validation” of the key development targets that it has already identified.
Frangeskides outlined to shareholders that this “detailed multi-element analysis of the core samples” includes the two clear targets which have been defined for near-term development: the Llechfraith Payshoot, below the Llechfraith Adit and the Main Lode System Extension.
The Company explained that below the Llechfraith Adit, drilling has proven vein continuity up to ~122 m below existing workings, while at the Main Lode System Extension, drilling has defined a previously unknown Lode (termed the New Branch Lode) whilst also intercepting the 7-10 Lode and Grandfathers Payshoot at up to ~60 m below existing workings.
Alba’s Phase 2 surface and underground drilling programme at Clogau was successful in its primary objective of defining a number of target zones for future development within structures which are known to host all of the historic high-grade gold within the mine.
It said assay results have been received from the programme and have validated the potential of all key development target structures identified to host untapped gold mineralisation.
From its analysis of assays from its Phase 2 underground and surface drill core, 2019 drill core and additional in-mine rock samples, Alba has identified four distinct geochemical groupings. It noted that the most important grouping is the auriferous vein (“AV”) group.
The AV group is reported to have ‘a compelling gold-silver-bismuth-lead-tellurium association indicative of the presence of gold-bearing mineralising fluids’ while being ‘directly comparable to the basket of metals for the bonanza-grade gold stage’ as described in previous historical ore mineralogy assessments for Alba Mineral Resources’ Dolgellau Gold Field in Wales.
It added that AV is present in all key development target structures identified to date, which Alba said validates ‘the potential of those targets to host untapped gold mineralisation.’
“The fact that we are seeing the same multi-element signature in these areas as was found in the bonanza-grade gold stage at Clogau, gives us a great deal of confidence as we move forward with the development of these zones,” said Frangeskides in this morning’s statement.
Meanwhile, Alba informed investors that it continues to progress the preparation of detailed submissions seeking a reconsideration of its application to dewater the Llechfraith Shaft.
Following further discussions, Alba is progressing its work on a set of detailed submissions seeking a further consideration by the authorities of the Company’s dewatering application.
Last week, Alba Mineral Resources noted a statement from GreenRoc Mining in which the company confirmed the ‘high-grade nature’ of its Amitsoq Island deposit in Greenland.
Following the release of assay results from a drilling and channel sampling programme undertaken at the deposit between June and August 2021, GreenRoc said the deposit contains graphite layers ‘both thicker, and more consistent, than previously thought.’
GreenRoc’s CEO, Kirk Adams, said the assays taken from the Group’s phase 1 drilling programme on the Amitsoq Island graphite deposit in Greenland between June and August 2021,confirm the deposit to be “one of the highest-grade graphite deposits in the world.”
The drill core and channel sample assays confirm the presence of high-grade graphite mineralisation at the deposit while increasing true widths observed down dip on both the upper and lower graphite layers support the potential for a sizable JORC Resource.
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