ALBA MINERAL RESOURCES PLC

Business and Financial Review • Aug 21, 2024

National Storage Mechanism | Additional information

RNS Number : 1709B

Alba Mineral Resources PLC

21 August 2024

Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining

21 August 2024

Alba Mineral Resources Plc

("Alba" or the "Company") 

Clogau Operational Update

First Blast of Llechfraith Target Approaches

Alba Mineral Resources Plc (AIM: ALBA) is pleased to report on the progress of ongoing preparatory works in readiness for blasting at the Company's 100% owned Clogau-St David's Gold Mine in north Wales ("Clogau" or the "Mine").  

Key Points

-    The remaining preparations for blasting of the Llechfraith Target have now been completed involving the installation of a ventilation system, compressed air and water to service the planned operations on No. 4 and 5 Levels.

-    The installation of a large tonnage winch system to lift blasted ore to surface and electrical connection of the newly installed compressor is due to be completed this week.

-    The first blast of the Llechfraith Target, Alba's primary gold target at Clogau, is anticipated to take place within the next seven days or so.

-    The mucking out of residual ore and tailings from No. 4 and 5 Levels in the Lower Llechfraith workings has so far resulted in around 12 tonnes of material being removed to surface. Of this, around 1.5 tonnes have so far been processed at the Company's pilot processing plant. The concentrate produced will be sent to a third-party refiner for the extraction of the gold content.

George Frangeskides, Executive Chairman, commented:

"Since our last update, work has continued round the clock to prepare the Llechfraith Target, our primary gold target at Clogau, for blasting. We are pleased to be entering the home straight now in those preparations and anticipate the first blast in the coming days."

Image Gallery - Preparations for Blasting

Above: Inspecting quartz vein in Lower Llechfraith workings	Above: Sheave wheel rehabilitated and turning again after 30 years of inactivity
Above: Ore left behind in Lower Llechfraith workings; removed to surface for processing
Above: New compressor unit installed	Above: Historic rail tracks and ore tubs rehabilitated for transport of blasted ore

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, financial and business conditions, competition for and availability of qualified staff and contractors, regulatory processes 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 timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to finance, execute and implement future plans and programmes, 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.

**ENDS**

For further information, please visit   www.albamineralresources.com   or contact:

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 Strategic Materials Plc (graphite - anode)	Greenland	34.72%
Horse Hill (oil)	England	11.765%

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