Firm sees good prospects in re-starting gold mine
A MINERAL firm wants to re-start gold mining in North Wales after taking a major stake in the owner of the Clogau Gold Project.
Alba Mineral Resources plc announced it now has a 49% interest in Gold Mines of Wales Limited (GMOW), which owns the Clogau project situated within the Dolgellau gold belt.
The project comprises the Clogau Gold Mine, where mining ended in 1998, and includes a large number of “highly prospective gold targets” and former gold workings within an area of 65 square miles. Alba’s review of the project concluded there is a “high potential” to find “unworked veins” containing gold mineralisation of similar grade to that known in historic mines in the area. The focus will be on bringing the Clogau Gold Mine in Bontddu back into production and making a push into the regional exploration of the wider project area.
Bodelwyddan-based jewellery THIS teenager has been fined after she admitted tattooing children.
Ashleigh Jordan EvansBundy, 18, of Ciltrefnus, Gerlan, near Bethesda, pleaded guilty to four charges of tattooing a minor.
Prosecutor Diane Williams said the incidents all took place in Bethesda on June 8 this year, with all four of those tattooed aged under 18 at the time.
Under UK law, it is illegal for anyone to receive a tattoo under the age of 18, even if parental consent is granted.
Evans-Bundy (left) must pay £355 in fines and costs, including £50 compensation for each of her victims. firm Clogau has previously purchased the Gwynfynydd mine in the Dolgellau gold belt with the hope of re-starting the historic industry in Wales. This latest development is not related to the jewellery brand.
Alba’s Executive chairman, George Frangeskides, said: “The opportunity presented by this project is pretty unique – high grade gold in the heart of the UK, the fact that Welsh gold attracts a significant premium, the historic connections of Welsh gold with the heritage of the UK, the potential for finding more gold in the vastly under-explored exploration ground.
“All these are factors which together make a strong case for investment.”
London-based Alba has oil and gas interests in the UK and uranium, graphite, and iron ore mining interests in Greenland and Africa. The Dolgellau gold belt has produced about 131,000 oz of gold, by far the most of any region within the UK, with most of this (81,000 oz) exploited from the historic Clogau-St David’s mine.
The British Royal Family has been using Welsh gold to create their wedding rings since 1923.
Welsh Gold bullion is potentially worth between three and five times the spot gold price.