Alba begins second phase of surface drilling at Clogau-St David's

Alba Mineral Resources announced on Monday that the second phase of its surface drilling programme at the Clogau-St David's Gold Mine had started.

The AIM-traded firm said this phase of drilling would target what it believed to be the westerly, 550-metre extension to the Clogau Main Lode, the source of most of the historic gold production at the mine.

It said the underground drilling programme completed in October intersected that extension.

The second phase surface drilling programme was designed to confirm continuity of the Main Lode extension, and if confirmed, it added that it would become a primary zone for underground development and extraction.

Second phase drilling would also seek to intersect projected depth extensions of certain historically-worked lodes, namely Grandfathers Lode and the 7-10 Lode.

“The Main Lode has provided most of the historic gold production at the Clogau-St David's Gold Mine, so finding a continuation of the Main Lode which has never previously been exploited would constitute the most important discovery at the mine in many decades,” said executive chairman George Frangeskides.

“With that major objective in mind, we are excited to get this next phase of our surface drilling programme underway.”

At 0852 BST, shares in Alba Mineral Resources were down 6.25% at 0.3p.