Business
Clogau Update and Change of Adviser (Broker)
Clogau Update and Change of Adviser (Broker).
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0996I Alba Mineral Resources PLC 06 August 2019 \n\nhttp://www.rns-pdf.londonstockexchange.com/rns/0996I_1-2019-8-6.pdf\n \nAlba Mineral Resources plc\n(\"Alba\" or the \"Company\")\n \nTwo Kilometre Gold Anomaly Discovered at Clogau \n \nChange of Adviser\n \nAlba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, reports that final results have now been received from the infill and extension soil sampling campaign undertaken within the Company's 107 km2 Clogau Gold licence area in North Wales. \n \nThe largest new anomaly now identified has a strike extent of approximately two kilometres, being four times larger than the anomaly associated with the main Clogau-St David's Mine which has produced the largest quantity of gold from any region in the United Kingdom. According to records, Clogau-St David's produced 81koz of gold with an estimated head grade of 24 g/t Au. \n \nAdditionally, the Company notes the news story published on the Financial Conduct Authority (\"FCA\") website on 5 August 2019, stating that SVS Securities plc (\"SVS\") has been placed into Special Administration. SVS acts as joint broker to Alba, however as a result of these developments SVS will no longer be able to provide broking services to Alba. As a consequence, First Equity Limited is now the Company's sole broker with immediate effect.\n \nHighlights\n \n· Largest new anomaly identified has strike extent of ~2km (~4 times longer than strike extent of Clogau-St David's Mine)\n \n· In total, the completed sampling programme has identified ten significant anomalies away from known major mines, with gold mineralisation now confirmed across ~9 km strike extent of Dolgellau Gold Belt\n \n· Potential extensions to existing mines have also been identified, with infill sampling confirming continuity of an anomaly (the \"Lowri Target\") lying parallel to the Llechfraith adit and a major anomaly (the \"Eryn Target\") lying above historic Llechfraith workings\n \n· Weighted average grades for all new anomalies exceed average gold-in-soil grades for the historic mine anomalies\n \n· Sampling is con...