ALBA MINERAL RESOURCES PLC The latest results from the ongoing Phase 1 drilling programme have enabled the Company to project the newly identified vein system as extending some 66 metres below the deepest previously worked zone at the Llechfraith mine area.
George Frangeskides, Alba's Executive Chairman, commented: 'This surface drilling campaign is delivering on our objectives in spades. We wanted to identify the existence and extent of the vein system below the historic workings at Llechfraith, and we have now been able to show that it extends at least 66 metres below the deepest previously mined section. This provides us with a significant zone for follow-up channel and bulk sampling once we can get much closer access, which we will be able to do as soon as we have dewatered the Main Shaft at Llechfraith.'
'Ultimately, assuming that sampling programme stacks up well, we would then look to sink an extension to the Main Shaft some 60 metres down from No 4 Level, with several new Levels then being driven across from the extended shaft in order to be able to access the lode structure at a number of intervals. Thanks to modern engineering techniques and equipment, putting this new development in place would not be anything like the endeavour it would have been when the last development was put in place at Clogau some decades ago.'
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 timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events.
Without prejudice to the generality of the foregoing, uncertainties also exist in connection with the ongoing Coronavirus (COVID-19) pandemic which may result in further lockdown measures and restrictions being imposed by Governments and other competent regulatory bodies and agencies from time to time in response to the pandemic, which measures and restrictions may prevent or inhibit the Company from executing its work activities according to the timelines set out in this announcement or indeed from executing its work activities at all. The Coronavirus (COVID-19) pandemic may also affect the Company's ability to execute its work activities due to personnel and contractors testing positive for COVID-19 or otherwise being required to self-isolate from time to time.
Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
Contact:
George Frangeskides
Tel: +44 20 3950 0725
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