An outdated gold mine could possibly be reopened as a brand new research suggests there’s gold in them thar hills.
Consultants assume there’s potential for a gold rush in north Wales as Alba Mineral Assets is finishing up analysis throughout a 20-mile (32km) space often known as the Dolgellau gold belt in Gwynedd.
A survey has been performed across the website of Clogau St David’s gold mine at Bontddu, Dolgellau, which shut in 1989.
Boss George Frangeskides mentioned the plan is to hunt permission to open the mine.
The corporate has acquired a 90% stake in Gold Mines of Wales, which has permission from the Crown to prospect and mine within the space as they seek for new websites.
It isn’t the one agency hoping to restart gold mining in north Wales.
Welsh gold jewelry agency Clogau, whose founders as soon as owned Clogau St David’s, purchased the world’s final gold mine, Gwynfynydd, in 2016, 17 years after it ceased manufacturing.
However managing director Ben Roberts admitted any plans for the previous mine might take years to come back to fruition.
The realm was the main target of a gold rush greater than 150 years in the past, however information recommend gold mining goes again to Roman instances.
There are about 300 outdated mine workings throughout the gold belt, based on Alba’s technical director Howard Baker.
“We’ve got simply accomplished the primary geochemical soil sampling programme over the [Clogau St David’s] mine space,” he mentioned.
“We’ve got recognized the potential of latest areas that warrant additional exploration.
“The work we’re doing is kind of groundbreaking for the Dolgellau gold belt. No modern-day exploration has taken place.”
Sitting on a gold mine
As a boy, Ben Roberts and his siblings would accompany their father, Invoice, into Clogau St David’s, to be taught in regards to the household’s gold mine.
Mr Roberts Sr, chairman of Clogau, purchased the closed mine with a view to turning it right into a vacationer attraction.
However he turned to small scale mining when that fell by means of, producing Welsh gold the jewelry enterprise nonetheless makes use of to today.
“We’re very eager to do the identical with Gwynfynydd [mine],” mentioned his son.
The realm’s gold mines shut when extraction value greater than the gold being produced.
At the moment, the price of gold is buying and selling about 5 instances increased than it was 20 years in the past and, on high of that, Welsh rose gold sells at a premium, based on Mr Frangeskides, making it a pretty prospect.
“It is a two-pronged course of we’re engaged in – one is making an attempt to deliver the Clogau gold mine… again into manufacturing.
“And, on the identical time… we’re wanting on the regional gold exploration of the Dolgellau gold belt.”
The subsequent stage can be to submit an software to the planning authority, he mentioned.