Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Alba Mineral Resources (LON: ALBA) shares are climbing on Monday after the company reported assay results from its pilot processing plant at the Clogau-St David's Gold Mine, exceeding previous results.
The AIM-quoted firm said concentrates produced returned grades of up to 461 grams per tonne of gold.
Concentrates produced from the Grandfathers Stope ranged from 86.8 grams per tonne of gold to 461 grams per tonne, with an average of 187 grams per tonne.
The results “significantly exceed” assay results of bulk sample concentrates announced previously, which had returned grades of 20.4 to 165.5 grams per tonne.
Alba is now planning for the identification of new unworked veins for bulk sampling later in 2021.
“These represent by far the best results obtained from the assaying of the preliminary bulk sample concentrates collected from the Clogau-St David's Gold Mine. The pilot plant continues to operate very well, with negligible values returned from the tailings,” said Alba's Executive Chairman, George Frangeskides.
“We plan to continue with the bulk sampling later this year once the current phase of drilling has been completed. An update on the progress of drilling and other work activities at the Mine will follow separately,” he added.
Alba Mineral Resources shares are up 5.88% so far in Monday's session, priced at 0.27p.
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