EXPLORERS have struck gold hidden in the mountains of Wales. The high-grade haul was found in analysis of 1,200 soil samples by exploration company Alba Mineral Resources in Gwynned.
The gold was found in a mountain in a part of Wales known as the Dolgellau Gold Belt
The high-grade haul was found in analysis of 1,200 soil samples by exploration company Alba Mineral Resources in Gwynned.
The quality of the gold is higher than any retrieved from land owned by Alba before, in an area known as the Dolgellau Gold Belt.
The Royal Family has used Welsh gold to make their wedding rings since 1923.
Alba is planning to reopen the nearby Clogau St David’s gold mine, which shut 20 years ago.
Executive chairman George Frangeskides said: “Our regional exploration of the Dolgellau Gold Belt continues to bear fruit.
The fact that the average grades for those zones exceeds the equivalent grades obtained over the Clogau-St David’s mine itself is genuinely exciting
Executive Chairman, George Frangeskides
“The fact that the average grades for those zones exceed the equivalent grades obtained over the Clogau-St David’s mine itself is genuinely exciting.”
Alba is planning to reopen the Clogau Mine in the Dolgellau Gold-belt in Gwynned. Alba unearthed the new batch using new technology to analyse the soil samples.
Nearly three-quarters of the soil samples surpassed Alba’s expectations. Plans to reopen the Clogau Mine will see a network of maintenance work launched to make it safe.
A review of the land by Alba indicated there may be unworked veins in the area containing a higher quality of gold than previously.
Gold mining in the area dates back to Roman times, and a gold rush was launched more than 150 years ago. There are more than 300 old mines in the gold belt area.
Rings for the Queen Mother, The Queen, Princess Margaret, Princess Diana were made from the same nugget.
The wedding ring for Kate Middleton, the Duchess of Cambridge, was also made from Welsh gold given to Prince William by the Queen.
Mines closed when the price of gold plummeted and the cost of extracting it rose. But the price has been boosted 20 years since Gordon Brown drew criticism for selling tonnes of Britain’s gold reserves.
The price rocketed from an average of around $275 an ounce in 1998 to around $1,282 in 2019.
Alba is planning to reopen the historic Clogau mine in Bontddu, close to where the new batch of gold was found
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