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Competent Person's Report on Dolgellau Gold Belt
Competent Person's Report on Dolgellau Gold Belt.
About this update from Primorus Investments Plc
[{"type":"text","content":"\n \nRNS Number : 8907C Stellar Resources PLC 01 July 2016 \n\nStellar Resources plc\n \n(\"Stellar Resources\" or the \"Company\")\n \nCompetent Person's Report on Dolgellau Gold Belt\n \nStellar Resources (AIM: STG, ISDX: STG) announces that Gold Mines of Wales (Operations) Limited (\"GMOW\") commissioned SRK Exploration Services Ltd (\"SRK ES\") to prepare a Competent Person's Report on their mineral assets comprising an Exclusive Option Agreement (\"Option Agreement\") issued by the Crown Estates which covers part of the Dolgellau Gold Belt and adjacent exploration targets located in Wales. \n \nThe principal objectives of this report were to review the geology, mineralisation, mining history and exploration history of the area encompassed by the Option Agreement and assess the potential for it to host further gold mineralisation of economic significance, and where this was most likely to be found. SRK ES has also undertaken a review of the land use, ownership and other key stakeholders in the area, and how these factors may influence exploration. \n \nA summary of the key findings of the Competent Person's Report is set out below:\n \nThe Dolgellau Gold Belt has a long mining history. From the early 1800s to the late 1990s it has produced about 131,000 ounces of gold, by far the most of any region within the United Kingdom. Gold is principally derived from high grade, narrow veined mesothermal deposits. In turn, most of this gold (81,000 oz) has been exploited from historic Clogau St David's mine that lies within GMOW's Option Agreement. Gold production records are known from 12 mines, but there are over 300 smaller workings and trials in the area. \n \nDespite its high prospectivity, the area is considered to be underexplored and most of it has yet to be subject to sustained modern exploration at a deposit scale. The most recent work outside of individual historic mine sites was a series of Government-funded reconnaissance programmes in the 1970s. Nonetheless, these programmes provided useful data to help identify new exploration targets. Welsh gold bullion is potentially worth a premium to the spot gold price which further enhances the attractiveness of the exploration in this area. This is a key factor in the viability of mining for the type of gold mineralisation found...