Welsh gold: 'High possibility' of finding more in the hills

Drilling and bulk sampling for gold in new areas of Wales have begun, according to an exploration firm.

Alba Mineral Resources plans to restart mining at Clogau St David's gold mine at Bontddu in Dolgellau, Gwynedd, which closed 30 years ago.

It said analysis of 1,200 soil samples from known mines showed potential to find new gold sources in the county.

Executive chairman George Frangeskides said the firm believed there was a "high possibility" of finding gold.

He added: "It's work that has never been done, which is very exciting.

"No-one has drilled from underground in the historic mine, and what we are hoping is to find a gold vein that hasn't been touched before."

Mr Frangeskides said it was a challenge as not all the quartz veins it is probing will bear gold but the soil samples the company took last year show "potential to find new sources of gold".

Alba Mineral Resources previously acquired a 90% stake in Gold Mines of Wales, which has permission from the Crown to prospect and mine in the area, as it launched its search for new sites.

Gold prices hit record levels in August, as traders sought a safe haven for investments due to uncertainty created by the coronavirus pandemic.

Alba said alongside the samples it took from the so-called Dolgellau gold belt, maintenance work was also carried out by the exploration company in order for the drilling and sampling to take place.

Senior geologist Mark Austin said: "The hope is that we find extensions that have never been found before and that will lead us to gold."

Alba has said the drilling and sampling programme is expected to run until the end of the month and testing on the results will take place after that.

If the results come back with gold in decent quantities and grade then the company is hopeful of doing further exploration and reopening the mine.