Gold Mines of Wales - Update

RNS Number : 9490F

Stellar Resources PLC

01 May 2014

 



Stellar Resources plc

("Stellar Resources" or "the Company")

Gold Mines of Wales - Update

Gold treatment plant expected end of May.

Stellar Resources (AIM: STG) is pleased to announce that the fully integrated 2 tonne per hour gold processing plant, recently purchased for the Clogau Gold Mine in North Wales, has now been shipped from South Africa and is expected to be delivered to Dolgellau in North Wales on or around the 23^rd of May.

Bulk samples from the underground operations are currently being stockpiled at the Clogau Gold Mine in preparaion for the arrival of the new treatment plant. The manufacturer of the treatment plant is sending one of its technical team to assist with the set up and initial trial runs.

This treatment plant will enable the Joint Venture partners, GMOW (Operations) Ltd, to commence small scale pilot processing of gold ore previously exposed from the recently rehabilitated underground workings and to more accurately assess and correlate the past year's underground sampling programmes with actual gold recoveries.

Stellar Resources through its 49% investment in GMOW (Operations) Ltd, has the exclusive Option Agreement with the Crown Mineral Agents, acting for the Crown Estates, over the exploration license that covers an area of 120km² containing the entire Dolgellau Gold Belt. The licence contains the historic Clogau St David's Gold mine, renowned as being a source of royal gold.

Ed McDermott, the Company's director in charge of the Wales Operations, commented:

"The Company is aiming to produce the first new gold from the famous Clogau St David's Mine in Wales, for over a decade, over the coming months.

"Although gold production will be limited in the early stages, it will enable the Company to verify the exceptional gold grades achieved in the rehabilitation of the underground workings over the past few years."

-END-

Enquiries:

Stellar Resources plc David Lenigas, Executive Chairman Donald Strang, Finance Director Ed McDermott, Operations Director	[phone]
Cairn Financial Advisers LLP James Caithie / Paul Trendell Public Relations: Square 1 Consulting Ltd David Bick/Mark Longson	[phone] [phone]

 

END

 

 

MSCXBLFXZZFXBBE