Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Stellar Resources shares soar on high grade Welsh gold results

Stellar Resources shares soar on high grade Welsh gold results

Stellar Resources (LON:STG) shares soared as much as 50% this morning after it revealed very high grade exploration results from an old gold mine in North Wales.

The company’s 49.9% owned Gold Mines of Wales (GMOW) is exploring the Dolgellau gold belt, in north west Wales, and it has carried out underground mapping and sampling in the historic Clogau Gold mine.

Samples, taken from a 200 metre long area, returned gold grades of 30.2 to 263 grams per tonne (g/t).

"These high grade gold samples from Colau highlight that significant amounts of gold remains within the old mine,” said chairman David Lenigas.

“The mine has the potential to contain other high grade pockets of gold in areas that have yet to be tested. Further samples will be taken from the surrounding area and a planned drill programme is very much the focus for 2013".

"The reported high grade results, of up to 263 g/t, albeit over a relatively limited sampling length of 200m, are very promising. GMOW and its technical consultants believe the Clogau Formation could still contain significant quantities of gold. 

“Additional sampling over the remainder of the level and the longer Llfechfraith adit level is planned to access the potential for near-term production."

Having begun the trading day strongly by 9:25 Stellar shares were up 0.58p, or 34%, changing hands at 2.25p each.

 

View full PRIM profile View Profile

Primorus Investments Timeline

Related Articles

Email
February 13 2018
The shares are up 50% over the last year as the company's international expansion gains momentum
Bricklive
December 28 2017
Apparently, at some point in their lives every person in the UK will hold or touch a Lego brick - Parallel is building a business around the famous plastic bricks
Cello
April 16 2018
Global pharmaceutical R&D is forecast to reach $182bn by 2022 having grown at near 4% annually since 2006

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use