Firm sees good prospects in re-start­ing gold mine

Caernarfon Herald - - NEWS -

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.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.