REG - Alba Mineral Resrcs. - Gold Coin Sales and Processing Results

Alba Mineral ResourcesAnnouncement

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RNS Number : 5137G  Alba Mineral Resources PLC  29 April 2025

Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining

29 April 2025

Alba Mineral Resources Plc

("Alba" or the "Company") 

Clogau Update

Gold Coin Sales and Processing Results

Alba Mineral Resources plc (AIM: ALBA), the gold and critical minerals
exploration and development company, is pleased to provide this update on the
Clogau Gold Project.

Highlights

-    Private sale of second and third 1oz, 24-carat gold coins for £21,000
each.

-   Further processing and refining of Waste Tip fines through the Company's
modified gravity recovery plant has resulted in average head grades being
returned of 9.2 g/t.

Gold Coin Sales

The second and third 1-ounce, 24-carat coins in the Company's limited edition
"Tyn-y-Cornel" series, struck from Welsh gold mined at the Company's historic
Clogau-St David's Gold Mine in North Wales ("Clogau" or the "Mine"), have been
sold in a private sale for £21,000 each. The Company put the second coin up
for public auction recently, with the highest bid of £18,000 failing to reach
the reserve price the Company had set. Since the auction, a private collector
has agreed to purchase the second and third coins for £21,000 each.

With the gold price currently standing at almost £2500 per ounce, the price
fetched by these latest sales represents a premium of almost 8.5 times the
spot price of gold, which is in line with the sale price achieved at auction
for the first coin (see Alba RNS of 4 April 2025), which sold for £20,000.

Gold Processing and Refining

As a continuation of the evaluation of the Waste Tip, further sampling of the
-20mm screened ore has been undertaken. The sampling focused on material
derived from Trenches 2 and 4, with samples processed through the recently
modified gravity recovery plant. Initial sampling of Trenches 2 and 4 in May
2024 returned average head grades of 0 g/t and 5.33 g/t respectively (see the
Alba RNS of 15 May 2024). This resampling was as much a test of the
reconfigured plant layout as verification of the original trench sampling.
Concentrate samples were submitted to an independent laboratory for assay,
with the balance of the concentrates submitted to the Company's usual refiners
to recover the total gold content.

All concentrate samples assayed by ALS returned gold grades for both trenches
with a low of 0.6 g/t, a maximum of 23.9 g/t and an average of 7.9 g/t. The
back-calculated head grade of the assays averaged 0.22 g/t. However, as
before, the gold grades from the laboratory assays significantly understated
the actual gold content in the samples. The results from the refinery showed
an average concentrate grade of 450.6 g/t across both trenches, equating to an
average head grade of 9.2 g/t (2.0 g/t for Trench 2 and 19.9 g/t for Trench
4).

 

The grade variability is a reflection of the irregularity of the gold
distribution on the Waste Tip. However, the increased grades in general when
compared to the May 2024 results in respect of material from the same trenches
is also considered to be a consequence of the recent pilot plant process flow
modifications made by Alba.

George Frangeskides, Alba Executive Chairman, commented:

"These latest results from the processing of Trenches 2 and 4 at the Waste Tip
are very positive for the economics of future Waste Tip processing.  The
recent pilot processing plant modifications appear to have significantly
improved gold recoveries when compared to the exercise that was undertaken in
May 2024.

"We are delighted to have achieved such a high price for the sale of our
limited edition Tyn-y-Cornel series gold coins. This underlines the serious
commercial potential of the Clogau-St David's Gold Mine."

Figure 1: The Company has minted three limited edition, "Tyn-y-Cornel" series,
1oz, 24-carat Welsh gold coins, made solely from gold mined from the Clogau-St
David's Gold Mine, with the first coin selling at auction for £20,000 and the
second and third coins for £21,000 each.

 

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, financial and business conditions, competition
for and availability of qualified staff and contractors, regulatory processes
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 finance, execute and implement
future plans and programmes, and the occurrence of unexpected events. Actual
results achieved may vary from the information provided herein as a result of
numerous known and unknown risks and uncertainties and other factors.

Competent Person Declaration

The information in this release that relates to Exploration Results has been
reviewed by Mr Mark Austin. Mr Austin is a member of SACNASP (Reg. No.
400235/06), Fellow of The Geological Society and Fellow of the Geological
Society of South Africa. He has a B.Sc. Honours in Geology with 40 years'
experience.

Mark Austin has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the 2012
Edition of the 'Australasian Code for Reporting of Exploration targets,
Exploration Results, Mineral Resources and Ore Reserves', also known as the
JORC Code. The JORC code is a national reporting organisation that is aligned
with CRIRSCO. Mr Austin consents to the inclusion in the announcement of the
matters based on his information in the form and context in which they appear.

 

**ENDS**

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 Contact Details
 Alba Mineral Resources plc                 +44 20 3950 0725

 George Frangeskides, Executive Chairman
 SPARK Advisory Partners Limited (Nomad)    +44 20 3368 3555

 Andrew Emmott
 CMC Markets plc (Broker)                   +44 20 3003 8632

 Thomas Smith / Douglas Crippen
                                            Gaby@gingerbreadagency.com (mailto:Gaby@gingerbreadagency.com)  / Tel: +44

                                          7808 472 139
 The GingerBread Agency, press enquiries

                                            Madelaine@gingerbreadagency.com (mailto:Madelaine@gingerbreadagency.com)

 

 

 Alba's Projects & Investments

 Projects Operated by Alba                            Location   Ownership
 Clogau (gold)                                        Wales      100%
 Dolgellau Gold Exploration (gold)                    Wales      100%
 Gwynfynydd (gold)                                    Wales      100%
 Investments Held by Alba                             Location   Ownership
 GreenRoc Strategic Materials Plc (graphite - anode)  Greenland  28.01%
 Horse Hill (oil)                                     England    11.765%
 Earn-in Projects                                     Location   Earn-in Rights
   Finnsbo (rare earths, copper, gold)                Sweden     Up to 100%
 Optioned Projects                                    Location   Further details
   Norrby (gold, other metals)                        Sweden     RNS 6/11/24
   Glava (copper, gold)                               Sweden     RNS 6/11/24

 

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