The objective of the drilling was to identify possible gold-bearing extensions to one particular target area at Clogau, being the Llechfraith mine workings.
The drilling successfully intersected a quartz vein sequence up to some 25 metres below the known historical mine workings. In addition to this confirmation of the continuity of the mined shear zone-hosted quartz vein structure at depth, the assay results have now also confirmed the presence within the drillcore of gold mineralisation above the analytical detection limit. These results therefore indicate that a gold-bearing system may exist within that quartz vein sequence at depth.
These results give the Company confidence to embark upon follow-up work at the Llechfraith mine area to locate continuations of the previously mined historic gold shoots.
The Company is in the process of refining its overall 2020 work programme, which is expected to include a trenching programme across some of the 10 new regional gold targets which Alba has identified across the Dolgellau Gold Belt.
George Frangeskides, Executive Chairman, commented: 'As we have previously reported, limited mining was most recently undertaken at the Llechfraith mine area in the 1980s, with visible gold being reported along the lowest worked (No.4) level. This led us to embark on a short maiden drilling programme late last year, focused on this single target zone.'
'The primary objective of the drilling was to confirm the presence of gold-bearing structures in areas that have never been previously mined, and this has undoubtedly been achieved. While the assays themselves have not returned high-grade results, this was to be expected due to the nuggety effect of the Clogau gold system, where gold is known to occur in discreet, high-grade pods, as well as due to the limited amount of drilling undertaken.'
'Given the drilling has firmly established that we are in the right structure, our team is now focused on refining our exploration activities within the Llechfraith mine area, at the same time as finalising our work programme across the large number of other gold targets within our project area. One route now being considered for Llechfraith is the dewatering of the No.4 Level so that our technical team can directly access those zones where visible gold was reported in the 1980s.'
Drilling Programme
The maiden drilling programme at the
The primary objective of this short programme was to drill for structure, that is to identify whether the known gold-bearing geological setting at the Llechfraith mine area continues down dip of the deepest worked level, being No.4 Level. Alba confirmed that both main drill holes completed, GMOW002 and GMOW003, intersected a sequence of intrusive greenstones or microdiorite followed by a shear zone dominated by intermixed Clogau shale and quartz veining.
Assay results from the shear zone intersection have confirmed the presence of low-level gold values which may be an indication that higher-grade zones exist at depth below the known workings. This can however only be confirmed through further exploration to determine if the reported gold shoots extend beyond the lowest level in the mine.
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
Competent Person Declaration
The information in this release that relates to Exploration Results has been reviewed by Mr
Contact:
George Frangeskides
Tel: +44 20 3907 4297
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