LONDON (ShareCast) - (Sharecast News) - Diversified mineral exploration and development company Alba Mineral Resources updated the market on the progress of exploration activities at the Clogau Gold Project in North Wales on Thursday.
The AIM-traded firm had announced on 24 August that it now held a 90% interest in the project.

It said a geochemical survey had completed over the Clogau-St David's mine area and near-mine extensions, with geochemistry samples collected and being sent for analysis to an accredited laboratory.

A geophysical survey had commenced over the Clogau-St David's mine area and near-mine extensions, the board added, explaining that the objective there was to define new gold targets and to determine suitable exploration techniques for the highest priority regional gold targets.

"Having completed a geochemical survey over the Clogau-St David's mine area, our exploration team have now mobilised to site to conduct electromagnetic and magnetic geophysical surveys over the mine area, with the objective being to define new gold targets there," said Alba executive chairman George Frangeskides.

"This field programme is, to our knowledge, the first ever concerted modern exploration campaign conducted on the Dolgellau Gold Belt since the first gold discovery there in 1853."

Frangeskides said that once the company has completed the current mine and near mine exploration programme, the intention was then to embark on a second phase exploration campaign later in the year, which would cover the highest priority regional gold targets identified within the entire 107 square kilometre licence area.

"All the while, we are continuing to progress baseline environmental studies at the mine, which are a key step in the permitting process for restarting production at the historic Clogau-St David's gold mine."

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