Alba Mineral Resources confirms multiple mineralised gold zones at Llechfraith Lode
(ALBA ) said assay results received from the Phase 1 drilling programme at the Llechfraith mine area has confirmed multiple mineralised gold zones.
The drilling programme, which forms part of Alba’s wider work activities at the Clogau-St David’s Gold Mine, encompassed a total of 10 drill holes with a final drilled total of 1158 m.
Gold mineralisation was shown to be present in the veins identified from the drilling across several individual zones up to one metre thick, with individual values up to 4.25 g/t.
Alba said the intersection of values has strongly reinforced its view that the newly modelled zone, the Llechfraith Lode, is a key target for future development and production at Clogau.
Two other identified vein systems, the Canol and Sill Vein Systems, which are also targets for further exploration, were intersected and confirmed as hosting gold mineralisation.
Figure 1: An N-S cross section through the Llechfraith Shaft showing the geometry of the lodes, vein systems and bounding stratigraphy.
The Company noted that the results add weight to its objective to dewater the Llechfraith Shaft as soon as possible which will grant it direct access to the on-reef development.
The dewatering of the Llechfraith workings is planned as the next step in the Company’s exploration of the Llechfraith Lode. Alba highlighted to investors that access to this level will also afford it an improved understanding of gold distribution within the lode structure.
Figure 2: Geological cross-section of the Llechfraith vein systems, as defined by Alba’s drilling.Chart
(Source: Alba Mineral Resources)
The Company added that, as previously announced earlier this month, the Phase 2 drilling programme, which comprises an 8-10 hole project for up to 2000 metres, has commenced.
The first hole has made ‘great progress’, reaching a depth of 177.9 metres on 21 April 2021.
Drilling is predominantly targeting the ~550 metre lode extension structure identified by last year’s underground drilling programme and depth extensions of the Grandfathers and 7-10 lode structures.
“We have always stressed that the primary objective of our drilling programmes is to prove structure and to identify existing lode extensions and new lodes. The drilling at Llechfraith has proved that the main lode in fact comprises two discrete lodes, separated by about 10m. In addition, the drilling has also identified two other vein systems further to the south.
The assay values received are highly significant in that we now have proof that the lodes are mineralised,” commented Mark Austin, Alba Mineral Resources’ Chief Operating Officer.
He added, “Indeed, although we are drilling for structure not for grade, nonetheless the grades returned of up to 4.25 g/t are really pleasing, not least when considered against the highly nuggety nature of the lodes.”
These results have added impetus and urgency to the dewatering of the Llechfraith Shaft and the subsequent underground development – we believe that this on-reef development will reveal the true nature of the orebody ultimately leading to a mining operation.”
Vox Markets View
Today’s news confirming multiple mineralised gold zones at Llechfraith has reinforced Alba’s view that the mine area is a key target for future development and production at Clogau.
Earlier this month, Alba unveiled that it had started the second phase of its surface drilling programme at Clogau, an 8-10-hole programme designed to target the source of most of the historic gold production at the mine and to confirm continuity of Main Lode extension.
Confirming continuity here represents a ‘potentially very significant new discovery’ for the Company. Identifying a continuation of the Main Lode, which has never previously been exploited, and would constitute ‘the most important discovery at the Mine in many decades’.
Last week, Alba announced that it was planning to shortly commence an evaluation pitting of the historic waste rock dump at the Clogau as part of its objective to unlock early revenue streams at Clogau while it continues ongoing drilling work at the site. Alba expects to have a definitive answer on the gold-bearing potential of the dump by the middle of next month.
Reasons to ALBA
Alba Mineral Resources is a well-diversified exploration and development company which owns and operates mining projects in Greenland, Wales and Ireland. Its strategy is to identify and secure undervalued assets with a diversified commodity mix where there is potential for discovering further unexploited resources alongside the existing mine site.
Limerick Base Metals Project
Historically, only eight drillholes have been completed within Alba’s Project area of the Limerick Base Metals Project, the most recent being the three holes drilled in Q2 of 2019.
Alba said these low levels of drilling are unusual in the Irish context and, for this reason, the area is considered under-explored. Alba has previously identified a number of attractive targets that have never been drilled before.
Alba’s current technical team, led by Mark Austin, Alba’s COO and Senior Geologist, will undertake a comprehensive review of the licence area before determining the next phase of planned exploration activities.
The expenditure conditions attaching to the renewal of PL 3824 require Alba to incur expenditure of €15,732 by 26 May 2021 with a further €50,000 to be spent by 26 May 2022.
JORC Resources expected
Despite losing field time to the COVID-19 pandemic, Alba said it is in a position to execute one of the most significant underground work programmes seen for several decades at its Clogau gold mine in Wales, just as the commodity is reaching all-time highs in value.
Alba said its mining projects remain on ‘a sound footing’, with JORC resources at both Thule Black Sands and Melville Bay, and plans to drill a maiden JORC resource at Amitsoq in 2021.
Amitsoq
In recent weeks, Alba said an independent testwork programme at the Group’s Amitsoq graphite project in southern Greenland has confirmed ‘very high carbon content.’ Due to the high carbon content, the product would offer ‘a significant advantage, as no purification would be needed to achieve that level,’ the Company explained to investors.
Accordingly, subject to certain follow-up testwork which the Group said is recommended, the testwork successfully indicates the suitability of Amitsoq graphite as feed material for Lithium-Ion Batteries ("LIBs"), the fastest growing market for flake graphite globally.
‘This finding that the concentrate appears to be suitable for LIBs is significant, as the market for LIBs is the fastest growing market for flake graphite, with massive growth rates forecast for the next decade due to the expected demand for LIBs in electric vehicles,’ Alba outlined.
Transition from Exploration to Production in Greenland and Wales
Other ‘significant’ progress has also been made in recent years towards Alba’s ultimate goal of achieving commercial production at one or more of its sites, including at the Thule Black Sands in Greenland, the Amitsoq project in Greenland and the Horse Hill well in Surrey.
In 2020, Alba has announced that surface trenching activities would kick-start over the first of the group’s 10 regional gold targets over the Dolgellau Gold Field.
The trenching will target the first of 10 separate new gold targets over the Dolgellau Gold Field which have previously been identified by Alba.
Alba said up to eight trenches have been planned in this first phase, each varying in length from 40-90m for a total of 575m, with each trench being 1m wide and up to 2m deep.
Once exposed, the quartz veining and other structures from the trenches, those of which are pictured below, will be sampled, and those samples sent to a laboratory for assaying.
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